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CartuBank

CartuBank


By using the Discounted Certificate of Deposit, Caru Bank’s new product you safely invest your savings and get high interest.

The Certificate of Deposit is a bank deposit, which obligates the Bank to pay the certificate holder the sum set out in it on the day specified.  

The Discounted Certificate of Deposit is available for lower than its par value (discount) and at the term-end is covered at its par value (face value). The difference between the par value and the purchase price is the client’s interest payable to the client by the Bank on the expiration date of the certificate.

Par value of the Discounted Certificate of Deposit:

  • 1,000 GEL
  • 1,000 USD
  • 1,000 EUR

The annual interest rates in GEL of the Discounted Certificate of Deposit

Month

Nominal Interest Rate

Effective Interest Rate

3 - 5 months

7.00%

From 7.19%

6 - 8 months

7.65%

From 7.80%

9 - 11 months

8.40%

From 8.49%

12 - 17 months

9.40%

From 9.40%

18 - 23 months

10.00%

From 9.77%

24 - 35 months

10.50%

From 10.00%

36 months

11.10%

From 10.06%

In case of non-resident entities, 0.5% is deducted from the standard interest rates. 

 

The annual interest rates in USD of the Discounted Certificate of Deposit

Month

Nominal Interest Rate

Effective Interest Rate

3 - 5 months

1.70%

From 1.71%

6 - 8 months

2.10%

From 2.11%

9 - 11 months

2.90%

From 2.91%

12 - 17 months

3.50%

From 3.50%

18 - 23 months

4.00%

From 3.96%

24 - 35 months

4.50%

From 4.40%

36 - 47 months

5.30%

From 5.04%

48 - 59 months

5.90%

From 5.44%

60 months

6.30%

From 5.63%

In case of non-resident entities, 0.5% is deducted from the standard interest rates. 

The annual interest rates of the Discounted Certificate of Deposit in EUR

Month

Nominal Interest Rate

Effective Interest Rate

3 - 5 months

0.25%

From 0.25%

6 - 8 months

0.55%

From 0.55%

9 - 11 months

1.10%

From 1.10%

12 - 17 months

1.80%

From 1.80%

18 - 23 months

2.25%

From 2.24%

24 - 35 months

2.55%

From 2.52%

36 - 47 months

2.80%

From 2.73%

48 - 59 months

3.00%

From 2.87%

60 months

3.30%

From 3.10%

In case of non-resident entities, 0.5% is deducted from the standard interest rates. 

If the total sum of certificates of deposit is over 3,000,000 GEL (1.000.000 USD/1.000.000 euro), the interest rates are defined on an individual basis.

 

Additional Terms

  • The standard terms of Certificate of Deposit are based on “The Standard Certificate of Deposit Regulation for the Commercial Banks” approved by order of the Georgian National Bank president.
  • The certificate is free.
  • The certificate holder is identified by the record in the Certificate of Deposit Register of the Bank.
  • The interest charged to the Certificate of Deposit is tax-free.
  • The certificate holder can dispose of it in favor of a third person without the approval of the Bank.
  • The Bank is not obliged to redeem the pre-terms of Certificate of Deposit. If the Bank decides to redeem the Certificate of Deposit pre-term at the client’s request, redemption is subject to the terms of the attached contract.
  • The certificate disposal commission is 0.1% of the par value, min. 20GEL.
  • In case of disposal, the settlement shall take place at Cartu Bank JSC.
  • Partial disposal of the Certificate of Deposit is unacceptable.

                                                                              

As you acquire the Certificate of Deposit, you get a gift of:

  • SMS service until the Certificate expiration date. 
  • Plastic cards (according to the certificate sum):
    • Up to 10,000 – 25,000 GEL (or the equivalent in the relevant currency)– Visa/MasterCard Gold plastic cards
    • 25,001 GEL and more (or the equivalent in the relevant currency) – Visa Platinum plastic card

After the disposal of the certificate of deposit, the certificate holder is obliged to declare the income arising from non-interest spread and pay the tax under the Laws of Georgia. 

 

Since 01 January 2018, the Bank is involved in the “Deposit Insurance System” established under the Law “On the Deposit Insurance System”.

The Deposit Insurance Agency will pay a depositor of a commercial bank the sum up to 5 000 GEL in its deposit/account regardless of the number thereof, while the rest of the sum will be paid according to the applicable laws of Georgia.

For additional information visit the web-site of Deposit Insurance Agency LEPL: www.diagency.ge

 

For more information dial *8080; (032) 200 80 80; 7/24 or approach our nearest service center.