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.
If you want to insure your child’s future financially and provide financial support for them to start their teenage lives, use the Child Savings Deposit product of Rabitabank.
To open a deposit account by reading the terms, apply now and our staff will contact you!
Interest Rate: 5% AZN | 0,5% USD
Increasing the Deposit: Possible
Deposit Term: 18 years
Currency of the Deposit | AZN/USD |
Minimum Amount of Deposit | 100 AZN/USD |
Maximum Amount of Deposit | 100 000 AZN |
Increasing the Deposit | Possible, minimum 100 AZN/USD, maximum 1 000 AZN/USD once a month |
Minimum Term of Deposit | 1 year |
Maximum Term of Deposit | Until the child is 18 years old |
Calculation of interests | Calculated interests shall be added to the principal amount once a year and the interest shall be calculated on the added amount too |
Payment of interests | At the end of the period |
Calculation of interests in case of early termination of the contract | Interests calculated for the complete year shall be paid without a penalty, and interests calculated for the incomplete year shall not be paid |
Calculation of interests during partial withdrawal of the amount | Recalculation of interests refers to the part withdrawn |
From July 1, 2019, the upper limit of the annual interest rate on protected deposits in national currency has been set at 10%, and in foreign currency - 2.5%.
