If you want to insure your child's future financially and provide financial support for the teenager to start life, use the product of Rabitabank's Child Savings Deposit.
To get acquainted with the conditions and open a deposit account, apply now and our employees will contact you!
Interest rate: 5% AZN | 0.5% USD
Deposit Increase: Possible
Deposit Term: 18 years
Terms of child savings deposit product
|Deposit Currency|| AZN/USD|
|Minimum Deposit Amount||100 AZN / USD|
|Maximum Deposit Amount||100,000 AZN or its equivalent|
|Increasing the deposit||It is possible that once a month the minimum is 100 AZN / USD and the maximum is 1,000 AZN / USD|
|Minimum term of the deposit||1 year|
|Maximum term of the deposit||Until the child is 18 years old|
|Calculation of interest||Accrued interest is added to the principal amount once a year and interest is accrued on the added amount|
|Payment of interest||At the end of the period|
Calculation of interest in case of early termination of the contract
|Interest accrued for the completed year is paid without penalty, interest accrued for the incomplete year is not paid|
|Calculation of interest in case of partial withdrawal of the amount||Recalculation of interest refers to the part expended|
From June 1, 2020, the maximum annual interest rate on protected deposits in the national currency is set at 12%, and in foreign currency - 2.5%.