Certificate of Deposit

Receive higher returns while your funds are secure by the insurance of Deposit Insurance Agency

A Certificate of Deposit is an agreement to deposit money for a fixed period of time that will earn you guaranteed higher interest compared to standard term deposit. Isbank Georgia can issue Coupon and Discount CDs.

- Discount CD is a type of certificate of deposit that is sold at a discount from nominal value (i.e., value at maturity). The holder pays less than the face value at purchase date and gets the nominal value at maturity, with the difference between the nominal value and the purchase price is the return (yield) of the instrument. With the discount CD, the investor leaves interest to accrue over time to maturity.

- Coupon CD is a type of certificate of deposit which is sold at nominal value. The holder gets fixed monthly coupon (periodic interest) payments to the certificate. At maturity, the certificate holder gets the amount equal to the nominal value.



ANNUAL INTEREST RATES

 Term Discount CD
Coupon CD
6 months  - 6.00%
9 months  - 6.50%
12 months 8.00% 7.50%
18 months 8.50% 8.25%
24 months 9.00% 8.75%
36 months 9.50% 9.00%


TERMS

- Issuance of certificate - Free;
- Minimum amount - 5,000 GEL;
- Interest withdrawal - Monthly or at the end of the term;
- CD Buy back before maturity is subject to Bank approval. Bank has right to reject offer;
- Buy back - CD rate + 3%;
- Certificate holder is entitled to sell the certificate to any individual;
- Transfering CD to a third person - 0.1% from the CD value, minimum GEL 30;
- Bank is not obliged to redeem the certificate before the due date;
- One certificate may have only one owner. Partial alienation of the certificate is not allowed.