GENERAL INFORMATİON
DemirBank as one of the leading banks in the country offers reliable and paying deposits. Being one of the first banks of country, DemirBank in 20 years of operation became one of largest banks for the amount of deposits.
Recognized international financial institutions, European Bank for Reconstruction and Development and Netherlands Development Finance Company (FMO with total stock of “35% + 1 share” are among the shareholders of DemirBank. The presence of international shareholders became the evidence of reliability of DemirBank and international confidence in the bank.
DemirBank is the first bank in the country which received international rating. In April 2009 international rating agency Fitch reconfirmed its “B-” rating with “stable” forecast. This rating is one of the best in Azerbaijan banking sector and “stable” forecast is an indicator of the bank’s successful development.
DemirBank is the member of Azerbaijan Deposit Insurance Fund that guarantees the insurance of deposits in DemirBank in compliance with “Deposit Insurance Law”.
Currently DemirBank offers 4 types of deposits on “Deposit choice” program – “Göy (Blue)”, “Sarı (Yellow)”, “Yaşıl (Green)” and “Qırmızı (Red)”, providing a wide range of favorable terms.
Main advantages of “Deposit choice”
- Göy/Blue deposit – highest interest rate and possibility to get interest monthly. More info
- Sarı/Yellow deposit – possibility of early withdrawal of deposit w/o penalties (not losing the accrued interest). More info
- Yaşıl/Green deposit – interest accrued and paid to the depositor in advance. More info
- Qırmızı/Red deposit – possibility to continually increase the deposit and capitalize the accrued interest for accumulation of funds. More info
| Terms of deposits | Göy/Blue-Standard | Sarı/Yellow-Free | Yaşıl/Green-Comfortable | Qırmızı/Red-Prudent |
| Main advantage | High interest rates and monthly payment of interest | Early withdrawal of deposit with no penalties | Interest accrued and paid in advance | Increase of deposit and capitalization of interest |
| Currency | AZN USD/EUR/GBP | AZN USD/EUR | AZN USD/EUR | AZN USD/EUR |
| Minimum amount | 100 AZN/USD/EUR | 500 AZN/USD | 1000 AZN/USD | 100 AZN/USD |
| Term | From 3 months to 3 years | 1 year | 1, 2 and 3 years | 1, 2 and 3 years |
| Increasing the amount of deposit | Not possible | Not possible | Not possible | Possible |
| Credit line on credit card (at depositor’s discretion) | Up to 70% of deposit amount | Up to 70% of deposit amount | Up to 50% of deposit amount | Up to 70% of deposit amount |
| Early withdrawal | No penalties for early withdrawal of “Sarı/Yellow” deposit. In case of early withdrawal of “Göy/Blue”, “Yaşıl/Green” and “Qırmızı/Red” deposits, the depositor is paid interest at the rate of 2% annual if the actual term of deposit is 180 days or less; or he/she is paid 50% of accrued interest if the actual term of deposit is more than 180 days. | |||
Details on each type of deposit and interest rates
Göy/Blue-Standard deposit
Sarı/Yellow-Free deposit
Yaşıl/Green-Comfortable deposit
Qırmızı/Red-Prudent deposit
Opening credit line on credit card for depositors
A credit line in the amount of 70% of “Göy/Blue”, “Sarı/Yellow” and “Qırmızı/Red” and 50% of “Yaşıl/Green” deposits can be opened on credit card at the customer’s discretion.
The credit line is effective for the term of deposit agreement. Moreover:
- if the credit is paid off till the 8th of the following month, the interest is not calculated for the use of credit line;
- if the credit is not or partially paid till the 8th of the following month, the interest is calculated by ordinary scheme at annual rate of 25% for the used portion of credit line.
The above conditions are applied every time when the customer uses his/her credit line during the term of agreement. If the interest for the use of credit line is not paid in time, it can be deducted from the annual interest on deposit transferred to the customer’s current account or from the principal amount of his/her deposit.
Deposit insurance
DemirBank is the member of Azerbaijan Deposit Insurance Fund that guarantees the insurance of deposits in DemirBank in compliance with “Deposit Insurance Law”.
Deposit placement
DemirBank has one of the largest branch networks which include 29 branches throughout the country. 13 branches are located in Baku and 16 in other regions of the country, such as Ganja, Sumgayit, Sheki, Zagatala, Evlakh, Barda, Gazakh, Guba, Gusar, Goychay, Agdash, Shamakhi, Lenkoran, Masalli, Sabirabad and Imishli.
For placing a deposit a customer needs to approach one of the branches of DemirBank with identification card. After clarifying the terms of deposit, the amount of deposit is paid in the cash office and necessary documentation prepared. The depositor receives a copy of deposit agreement and deposit book.
Early withdrawal of deposit
At the depositor’s will the Bank shall at any time return the depositor the whole amount of deposit within 5 business days (usually the same day), that is reflected in the agreement between the bank and depositor.
In case of early (pre-term) withdrawal of deposit, the interest on deposits is paid on following terms:
- for early withdrawal of “Sarı/Yellow” no penalties are calculated;
- at early withdrawal of “Göy/Blue”, “Yaşıl/Green” and “Qırmızı/Red” deposits, the depositor is paid interest at the rate of 2% annual if the actual term of deposit is 180 days or less; or he/she is paid 50% of accrued interest if the actual term of deposit is more than 180 days.
Extension of agreement
If at the end of the term of agreement the deposit is not withdrawn, the deposit agreement is automatically extended for the same term at the interest rates available in the Bank on that day.
Deposit calculator
