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DemirBank presents new â€œYÄ±ÄŸÄ±mâ€ deposit

02 May 2014 09:20 (UTC +04:00)

Baku – APA-Economics. DemirBank has expanded its offer of deposits by introducing new “YÄ±ÄŸÄ±m” deposit to customers. The new type of deposit can be opened by depositing the minimum of AZN 10 at a DemirBank branch.

Deposits can be placed in AZN and USD for the maximum period of 20 years. An interest of 5% is added to the deposit annually.

“YÄ±ÄŸÄ±m” deposit has the following advantages: funds can be added at any time, the deposit can be withdrawn fully or partially without a penalty at any time, future financial security of customers, opening the deposit in the name of a 3rd person, etc.

The amount of deposit shall not exceed AZN/USD 10,000. If deposit exceeds this amount, the deposit can be withdrawn or converted to a different type of deposit with DemirBank.

Currently DemirBank offers 4 types of deposits on “Deposit choice” program – “Göy (Blue)”, “SarÄ± (Yellow)”, “QÄ±rmÄ±zÄ± (Red)” and “UÅŸaq (Kids)”, providing a wide range of favorable terms. DemirBank is the member of Azerbaijan Deposit Insurance Fund that guarantees the insurance of deposits in DemirBank in compliance with “Deposit Insurance Law”.

The first commercial bank of Azerbaijan, DemirBank started its operations in October 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). DemirBank has the “B” rating with “positive” forecast of “Planet Rating” and "Fitch Ratings" agencies.