DemirBank increases annual interest rate on manat deposits

DemirBank increases annual interest rate on manat deposits
# 10 September 2015 09:24 (UTC +04:00)

Baku - APA-Economics. DemirBank offers to customers to get more profit from the deposits on AZN in less time.

Bank says it has increased annual interest rate on deposits on AZN, so that it gives opportunity to customers to get 10% profit for 3 months and 12 % profit for 6 months. It is possible to open deposit account in any DemirBank’s branch for getting more profit from the deposits on AZN. The Deposit account can be opened in Bank branches by any individual by adding the minimum of AZN 100 into account.

It should be noted that, the deposits account can be opened in AZN and in USD.

DemirBank is a member of the Deposits Insurance Fund. As a result, deposits placed in DemirBank are insured in accordance with the law “On deposits insurance”. Insurance applies to deposits of up to AZN 30,000 with the maximum interest rate of 12%.

One of Azerbaijan’s first commercial banks of Azerbaijan, DemirBank started its operations in 1989. Shareholders of the Banks include large international financial institutions, such as the European Bank for Reconstruction and Development (EBRD) and Netherlands Development Finance Company (FMO). At the same time, DemirBank has B rating with “stable” outlook from Fitch Ratings international agency and also has B rating with “positive” outlook from Planet Rating agency.

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