Baku. Yegane Lachinzade – APA-Economics. “DemirBank” has increased annual interest rate on “Göy”, “Qırmızı”, “Sarı” and “UÅŸaq” deposits within the Range of Deposits program. In particular, annual interest rate on “Göy” deposits was increased up to 17%, on “Qırmızı” deposits – up to 14%, on “Sarı” deposits – up to 11% and on “UÅŸaq” deposits – up to 12%.
It should be noted that “Göy”, “Qırmızı” and “UÅŸaq” deposits can be opened by any individual by adding the minimum of AZN 100 into account. The minimum of AZN 500 need to be added for opening of “Sarı” deposits. “Göy”, “Qırmızı”, “Sarı” and “UÅŸaq” can be opened in both AZN and 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).
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