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By using the Interest-bearing Certificate of Deposit, Caru Bank’s new product you safely invest the savings of your company and get a 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.  

Interest-bearing Certificate of Deposit is available for its par value, the charged interest is paid on a monthly basis, and at the term-end, the deposit certificate is also covered at its par value.

Par value of the Deposit Certificate:

  • 10,000 GEL
  • 10,000 USD
  • 10,000 EUR

 

The annual interest rates of the Interest-bearing Certificate of Deposit in GEL

Month

Nominal Interest Rate

Effective Interest Rate

3 - 5 months

8.10%

8.41%

6 - 8 months

8.60%

8.95%

9 - 11 months

9.10%

9.49%

12 - 14 months

9.35%

9.76%

15 - 17 months

9.60%

10.03%

18 - 20 months

9.60%

10.03%

21 -  23 months

9.80%

10.25%

24 - 35 months

10.25%

10.75%

36 months

          10.50%              11.02%

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

 

The annual interest rates of the Interest-bearing Certificate of Deposit in USD

Month

Nominal Interest Rate

Effective Interest Rate

3 - 5 months

0.45%

0.45%

6 - 8 months

0.95%

0.95%

9 - 11 months

1.55%

1.56%

12 - 14 months

1.95%

1.97%

15 - 17 months

2.10%

2.12%

18 - 20 months

2.20%

2.22%

21 - 23 months

2.40%

2.43%

24 - 35 months

2.55%

2.58%

36 - 47 months

2.60%

2.63%

48 - 59 months 

2.70%

2.73%

60 months 

           2.85%                2.89%

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

The annual interest rates of the Interest-bearing Certificates of Deposit in Euro

Month

Nominal Interest Rate

Effective Interest Rate

3 - 5 months

0.00%

0.00%

6 - 8 months

0.20%

0.20%

9 - 11 months

0.95%

0.95%

12 - 14 months

1.35%

1.36%

15 - 17 months

1.50%

1.51%

18 - 20 months

1.75%

1.76%

21 - 23 months

1.95%

1.97%

24 - 35 months

2.10%

 2.12%

36 - 47 months

2.25%

2.27%

48 - 59 months

2.40%

2.43%
        60 months           2.50%  2.53%

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

If the total sum of the Certificate 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 Certificate of Deposite terms 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 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 Certificate of Deposit pre-term. 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. 
  • Visa Business / MasterCard Business plastic card

From January 1, 2018, the Bank participates in the deposit insurance system established on the basis of the Law of Georgia on the Deposit Insurance System. In case of an insurance event, the amount available on the depositor's deposit / account will be reimbursed by the Deposit Insurance Agency within the amount of GEL 15,000, while the remaining amount will be reimbursed in accordance with the current legislation. For more information visit the website of LEPL - Deposit Insurance Agency: www.diagency.ge

For more information, please call us 24 hours a day at *8080; (+995 32) 200 80 80 or visit the nearest service center.