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) |
- |
- |
- |
- |
- |
- |
Leave a review