Earn interests on the interests with Child Savings deposit and build your child’s future with a rapidly increasing amount. The deposit is intended for minors.

    Child savings deposit

    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 Amount100 AZN / USD
    Maximum Deposit Amount100,000 AZN or its equivalent
    Increasing the depositIt is possible that once a month the minimum is 100 AZN / USD and the maximum is 1,000 AZN / USD
    Minimum term of the deposit1 year
    Maximum term of the depositUntil the child is 18 years old
    Calculation of interestAccrued interest is added to the principal amount once a year and interest is accrued on the added amount
    Payment of interestAt 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 amountRecalculation of interest refers to the part expended

    Note

    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%.

    Child savings deposit

    • Deposit amount 5000

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