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By using the Discounted 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.  

The Discounted Certificate of Deposit is available for lower than its par value (discount) and at the term-end is covered at its face value (par 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 Deposit Certificate:

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

 

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

Month

Nominal Interest Rate

Effective Interest Rate

3 - 5 months

8.20%

From 8.46%

6 - 8 months

8.75%

From 8.94%

9 - 11 months

9.30%

From 9.41%

12 - 14 months

9.70%

From 9.70%

15 - 17 months

10.50%

From 10.37%

18 - 20 months

10.80%

From 10.53%

21 - 23 months

11.25%

From 10.82%

24 - 35 months

11.75%

From 11.13%

       36 months

         12.25%

           From 11.00%

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 USD

Month

Nominal Interest Rate

Effective Interest Rate

3 - 5 months

1.50%

From 1.51%

6 - 8 months

2.00%

From 2.01%

9 - 11 months

2.60%

From 2.61%

12 - 14 months

3.10%

From 3.10%

15 - 17 months

3.15%

From 3.14%

18 - 20 months

3.30%

From 3.27%

21 - 23 months

3.40%

From 3.36%

24 - 35 months

3.55%

From 3.49%

36 - 47 months

3.80%

From 3.66%

48 - 59 months

4.30%

From 4.05%

        60 months

          4.70%

           From 4.31%

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 Euro

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

0.85%

From 0.85%

12 - 14 months

1.60%

From 1.60%

15 - 17 months

1.60%

From 1.60%

18 - 20 months

2.10%

From 2.09%

21 - 23 months

2.10%

From 2.08%

24 - 35 months

2.35%

From 2.32%

36 - 47 months

2.65%

From 2.58%

48 - 59 months

2.85%

From 2.74% 

        60 months

          3.15%

           From 2.97%

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

If the total Certificate of Deposit sum is over 3,000,000 GEL (1.000.000 USD/1.000.000 euro), the interest rates are defined on a case-by-case basis.

 

Additional Terms

  • The standard Certificate of Deposit 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 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 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. 20 GEL.
  • 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

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