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Child Deposit
Child deposit is the best way of saving money for a child.
Deposit Conditions:
  • Opening the deposit account - free of charge;
  • The deposit account can be opened by a parent or any other person in the child’s name.
  • The minimum required period is 3 years, the maximum term - till the childs full age;
  • If the account is opened by the child’s parents, they are entitled to use the account until the child becomes of age;
  • If the deposit is opened by a child’s parents, hi/shi have the right to administer the account until the child becomes of age;
  • Once the child becomes of age the right is transferred to him/her;
  • The required initial minimum deposit amount is 50 GEL / 25 USD / 25 EURO;
  • After the first deposit, monthly payment is no less then 10 monetary unit;
  • In case of cancellation of the agreement before due date, on the deposit is accrued reduced interest rate determined by the contract.
    Interest Rate

    GEL

    USD

    EUR

    11.50%

    5.60%

    5.25%

    Effective Interest Rate 3 years

    GEL

    USD

    EUR

    11.48%

    5.59%

    5.29%

    Effective Interest Rate 18 years

    GEL

    USD

    EUR

    11.49%

    5.59%

    5.29%

    From January 1st, 2018, the Bank is a member of a deposit insurance system established in Georgia in accordance with the Law of Georgia on Deposit Insurance System, whereas in case of insurance event, each individual depositor is entitled to receive a compensation from the Deposit Insurance Agency, within the limit of 15,000 GEL. The amount above the limit shall be compensated as provided under the effective legislation of Georgia.

    For more information on deposit insurance system, visit web site at: www.diagency.ge
 
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