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Situation with Deposits in Azerbaijani Banks
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The news agency Turan
The news agency Turan

Situation with Deposits in Azerbaijani Banks

In the commercial banks of Azerbaijan the annual interest rates of classical deposits taken in manats vary between 1 - 16%. Deposits in US dollars for the year bring 0.75-10% and deposits in euro bring 0.25-8%. Depending on the interest payments for a month or at the end of the period the annual income shows a difference of 0.25-2%.

 

№

 

 

Commercial banks

 

At monthly interest payment

At interest payment at the end of the term 

AZN

USD

EUR

AZN

USD

EUR

1

Access Bank

14.3%

2.5%

1.5%

15.0%

3.0%

2.0%

2

AFB Bank

7.0%

3.0%

-

-

-

-

3

AG Bank

6.0%

1.0%

4.0%

6.0%

1.0%

4.0%

4

Amrah Bank

12.0%

8.0%

6.0%

13.0%

8.3%

6.5%

5

Ata  Bank

11.0%

8.0%

4.0%

12.0%

9.0%

5.0%

6

International Bank of Azerbaijan

8.0%

2.0%

-

8.25%

2.25%

-

7

Azerbaijan Senaye Banki

12.0%

1.0%

0.5%

12.0%

1.0%

0.5%

8

Azer-Turk Bank

6.5%

2.0%

1.0%

7.0%

2.5%

1.5%

9

Bank Avrasiya

9.0%

2.75%

0.5%

10.0%

3.0%

1.0%

10

Bank of Baku

12.0%

2.0%

-

13.0%

3.0%

-

11

Bank BTB

14.0%

5.0%

-

16.0%

6.0%

-

12

Bank Respublika

12.0%

2.0%

-

12.0%

2.5%

-

13

Bank Silk Way

6.0%

5.0%

-

6.0%

5.0%

-

14

Bank Standard

12.0%

4.5%

-

-

5.0%

2.0%

15

Bank VTB (Azerbaijan)

13.0%

5.5%

-

14.0%

6.0%

-

16

Caspian Development Bank

14.0%

3.0%

-

14.0%

3.0%

1.0%

17

Demir Bank

14.2%

6.0%

4.0%

15.0%

7.0%

5.0%

18

Express Bank

12.0%

4.0%

-

12.9%

5.0%

-

19

Gunay Bank

-

-

-

12.0%

6.0%

5.0%

20

Khalg Bank

6.0%

2.0%

1.5%

-

-

-

21

Capital Bank

11.0%

1.5%

0.25%

12.0%

2.0%

0.5%

22

Bank Melli Iran – Baku branch

1.0%

0.75%

-

1.0%

0.75%

-

23

Mugan Bank

12.0%

3.0%

-

13.0%

6.0%

-

24

Nakhchivan Bank

-

-

-

10.0%

10.0%

-

25

NBC Bank

13.0%

7.0%

7.0%

13.5%

8.0%

8.0%

26

Nikoil Bank

14.5%

5.5%

2.8%

15.0%

6.0%

3.0%

27

National Bank of Pakistan – Baku branch

-

-

-

-

-

-

28

Pasha Bank

-

-

-

15.0%

1.5%

-

29

Rabita Bank

12.0%

3.0%

-

13.0%

4.0%

1.5%

30

Turan Bank

13.0%

6.0%

3.5%

13.4%

6.4%

4.0%

31

Uni Bank

13.0%

4.5%

3.0%

14.0%

5.5%

3.0%

32

Yapi Kredi Bank (Azerbaijan)

11.0%

2.0%

2.0%

12.0%

2.5%

2.5%

33

Ziraat Bank (Azərbaijan)

11.5%

1.5%

-

12.0%

1.0%

0.1%

Annual interest rates on savings deposits in manats bring 2-16% of profit, in dollars it is 1.5-8.3%, and in euro it is 0.25-7%. Depending on the frequency of interest payments, the income difference is 0.25-2%.

 

№

 

 

Commercial banks

 

At monthly interest payment   

At interest payment at the end of the term 

AZN

USD

EUR

AZN

USD

EUR

1

Access Bank

-

-

-

12.0%

3.0%

1.5%

2

AFB Bank

-

-

-

-

-

-

3

AG Bank

-

-

-

6.0%

-

-

4

Amrah Bank

-

-

-

11.0%

8.3%

-

5

Ata Bank

-

-

-

10.5%

7.5%

3.5%

6

International Bank of Azerbaijan

-

-

-

-

-

-

7

Azerbaijan Senaye Banki

-

-

-

-

-

-

8

Azer-Turk Bank

-

-

-

-

-

-

9

Bank Avrasiya

-

-

-

7.0%

1.0%

0.25%

10

Bank of Baku

-

-

-

-

-

-

11

Bank BTB

14.0%

5.0%

-

16.0%

6.0%

-

12

Bank Respublika

-

-

-

11.0%

1.25%

-

13

Bank Silk Way

-

-

-

-

-

-

14

Bank Standard

-

-

-

-

-

-

15

Bank VTB (Azerbaijan)

12.0%

3.0%

-

3.0%

2.0%

-

16

Caspian Development Bank

-

-

-

8.0%

2.0%

1.0%

17

Demir Bank

-

-

-

11.0%

4.0%

-

18

Express Bank

11.0%

3.0%

-

12.0%

4.0%

-

19

Gunay Bank

-

-

-

12.0%

6.0%

5.0%

20

Khalg Bank

6.0%

2.0%

1.5%

6.0%

2.0%

1.5%

21

Capital Bank

11.0%

1.5%

0.25%

12.0%

2.0%

0.5%

22

Bank Melli Iran – Baku branch

-

-

-

-

-

-

23

Mugan Bank

-

-

-

-

-

-

24

Nakhchivan Bank

-

-

-

2.0%

2.0%

-

25

NBC Bank

12.0%

7.0%

7.0%

-

-

-

26

Nikoil Bank

13.0%

7.5%

6.0%

14.0%

8.0%

6.5%

27

National Bank of Pakistan – Baku branch

-

-

-

-

-

-

28

Pasha Bank

-

-

-

15.0%

1.5%

-

29

Rabita Bank

12.0%

3.0%

-

-

-

-

30

Turan Bank

-

-

-

-

-

-

31

Uni Bank

-

-

-

7.0%

-

-

32

Yapi Kredi Bank (Azerbaijan)

-

-

-

-

-

-

33

Ziraat Bank (Azerbaijan)

-

-

-

-

-

-

Over the last month deposits in manat in Azebaijan Senaye Banki went up by 2%, Demir Bank – by 1%, Nikoil Bank – by 1-1.5%. Instead, dollar deposits fell in Khalg Bank by 1%, in Capital Bank – by 0.5-1%, in Nikoil Bank – by 2%, and in Uni Bank – by 1%. Deposits in euro fell only in Nikoil Bank by 3.2-3.5%.

It seems that banks increase the annual interest rate of deposits placed in the national currency and reduce the annual interest rates of deposits in foreign currency. This is due to the growing need of credit institutions for manat resources.  -0-

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