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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

From 16 September Azerbaijan raised the upper level of annual interest rates of protected deposits in the national currency from 12% to 15%. The decision in this regard was made by the Board of Trustees of the Deposit Insurance Fund. After this decision manat savings rose in the commercial banks of Azerbaijan.

So, Amrah Bank, Caspian Development Bank, Mugan Bank, NBC Bank, Uni Bank, Yapi Kredi Bank (Azerbaijan) the annual interest rate of classic deposits in the national currency increased by 2-3%. As a result, in these banks the annual yield of classical manat deposits increased from 14% to 15-16%.

In addition, several banks increased the annual interest rate on savings deposits. For example, with the condition of payment of interest at maturity, several banks raised their annual return: Access Bank - from 12% to 13%, Amrah Bank – from 11% to 15%, and Caspian Development Bank - from 8% to 10%.

In parallel with rising deposits in the national currency foreign currency deposits are becoming cheaper. For example, Amrah Bank has reduced the annual interest rates of classical dollar deposits from 8-8.3% to 7-7.3%, Uni Bank - from 5.5% to 4.75% (with interest payments at maturity), Ziraat Bank (Azerbaijan) – from 1-1.5% to 0.5-1%.

The annual interest rates on Euro deposits have remained  unchanged.

 

№

 

Commercial bank

 

Monthly interest payment

Interest payment at maturity

AZN

USD

EUR

AZN

USD

EUR

1

Access Bank

14.3%

2.3%

1.3%

15.0%

3.0%

2.0%

2

AFB Bank

7.0%

3.0%

-

-

-

-

3

AG Bank

13.0%

3.0%

1.0%

15.0%

3.0%

1.0%

4

Amrah Bank

15.0%

7.0%

6.0%

15.0%

7.3%

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%

2.5%

13.0%

2.0%

2.5%

11

Bank BTB

14.0%

5.0%

-

16.0%

6.0%

-

12

Bank Respublika

12.0%

3.0%

-

12.0%

3.0%

-

13

Bank Silk Way

6.0%

5.0%

-

6.0%

5.0%

-

14

Bank Standard

12.0%

3.0%

-

12.0%

3.0%

-

15

Bank VTB (Azerbaijan)

13.0%

4.0%

-

14.0%

4.5%

-

16

Caspian Development Bank

15.0%

-

-

15.0%

3.0%

-

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

15.0%

3.0%

-

16.0%

6.0%

-

24

Nakhchivan Bank

-

-

-

10.0%

10.0%

-

25

NBC Bank

15.0%

7.0%

7.0%

16.0%

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

-

-

-

-

-

-

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

15.5%

4.5%

3.0%

16.0%

4.75%

3.0%

32

Yapi Kredi Bank (Azerbaijan)

13.0%

2.5%

2.5%

15.0%

2.5%

2.5%

33

Ziraat Bank (Azerbaijan)

11.5%

0.5%

-

12.0%

1.0%

0.1%

 

 

№

 

Commercial bank

 

Monthly interest payment

Interest payment at maturity

AZN

USD

EUR

AZN

USD

EUR

1

Access Bank

-

-

-

13.0%

3.0%

1.5%

2

AFB Bank

-

-

-

-

-

-

3

AG Bank

13%

3%

1%

15.0%

3%

1%

4

Amrah Bank

-

-

-

15.0%

7.3%

-

5

Ata Bank

-

-

-

10.5%

7.5%

3.5%

6

International Bank of Azeerbaijan

-

-

-

-

-

-

7

Azerbaijan Senaye Banki

-

-

-

-

-

-

8

Azer-Turk Bank

-

-

-

-

-

-

9

Bank Avrasiya

-

-

-

7.0%

1.0%

0.25%

10

Bank of Baku

12.0%

-

-

13.0%

-

-

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

12.0%

3.0%

-

12.0%

3.0%

-

15

Bank VTB (Azerbaijan)

12.0%

-

-

6.0%

2.0%

-

16

Caspian Development Bank

-

-

-

10.0%

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

15.0%

3.0%

3.0%

15.0%

3.0%

3.0%

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

-

-

-

-

-

-

29

Rabita Bank

12.0%

3.0%

-

-

-

-

30

Turan Bank

-

-

-

-

-

-

31

Uni Bank

-

-

-

7.0%

-

-

32

Yapi Kredi Bank (Azerbaijan)

-

-

-

-

-

-

33

Ziraat Bank (Azerbaijan)

-

-

-

-

-

-

 

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