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DemirBank offers preferential loans to depositors

May 26, 2014

ENP Newswire - 26 May 2014

Release date- 23052014 - DemirBank offers preferential loans to its customers on deposits.

Under the terms of the credit based on the deposit, customer who has placed a deposit to DemirBank may get a cash loan with an interest rate exceeding 4% the rate on the current deposit.

For example: If the client has placed Goy deposit for 36 months and the interest rate at the time is 11%, adding 4% the annual interest rate on the loan is 15%. The maximum loan sum is 80% of the deposit amount and the maximum term is 36 months.

Currently DemirBank offers 4 types of deposits on 'Deposit choice' program - 'Goy (Blue)', 'Sari (Yellow)', 'Qirmizi (Red)' and 'Usaq (Kids)', providing a wide range of favorable terms. DemirBank is the member of Azerbaijan Deposit Insurance Fund that guarantees the insurance of deposits in DemirBank in compliance with 'Deposit Insurance Law'.

The first commercial bank of Azerbaijan, DemirBank started its operations in October 1989. Shareholders of the Banks include large international financial institutions, such as the European Bank for Reconstruction and Development (EBRD) and Netherlands Development Finance Company (FMO). DemirBank has the 'B' rating with 'positive' forecast of 'Planet Rating' and 'Fitch Ratings' agencies.

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Source: ENP Newswire

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