Two Azerbaijani banks raised rates on manat deposits

Baku. 21 September. REPORT.AZ/ Two commercial banks in Azerbaijan have increased annual interest rate on manat deposits.

Report informs, they are Caspian Development Bank (CDB Bank) and Amrahbank.

According to information, at present CDB Bank set the annual interest rate on classic deposits in a national currency at 15%, regardless of the interest payments on a monthly basis or at the end of the deposit term. Previously, the annual rate of return was 14%.

Amrahbank as well increased profitability of deposits in national currency up to 15%. To date, the bank has paid dividends on manat deposits, depending on the type of deposit and term of payment of interest at a rate of 11-13%.

In addition, Amrahbank has lowered rate on US dollar deposits from 8-8,3% to 7-7,3% per annum.