ADIF told APA-Economics that on February 23, the Board of Trustees passed a decision at the extra-ordinary meeting to increase the upper limit of the interest rates on insured deposits to 12% from 9%.
The amendment comes into force from February 24, 2015 and the deposits placed in the member banks with the interest rate of over 12% will be uninsured deposits.
The amount of compensation to be paid for insured deposit of the depositors over makes AZN 30,000. Depositors don’t make payment for insurance of deposits. Insurance premiums are paid by member banks.
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