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Certificate of Deposit
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Certificate of Deposit

Liberty Bank's Certificates of Deposit are the best way of investing your savings in order to earn high interest rates.

A certificate of deposit is a financial instrument similar to securities. If you want to invest your savings effectively, you can purchase a certificate of deposit for a certain term, during which you will receive the highest interest income.

Advantages of a certificate of deposit:

  • The certificate of deposit offers the highest annual interest income among deposit products at JSC Liberty Bank;
  • The certificate of deposit can be purchased for a maximum term of 60 months;
  • The certificate of deposit can be transferred to a third party at any time.

Terms of the certificate of deposit:

  • Currency - GEL / USD / EUR
  • Minimum value - 1000 GEL / USD / EUR
  • Certificate term -
    • GEL/USD: from 3 to 60 months
    • EUR: from 6 to 60 months
  • Type of certificate -
    • Discounted – when purchasing the certificate, you will receive the interest income at maturity together with the principal amount
    • Interest-bearing – when purchasing the certificate, you will receive interest income monthly, while the principal amount will be paid at the end of the contract term
  • Type of interest rate - Fixed


Discount

Term
(month)

 GEL USD EUR
Nominal Effective Nominal Effective Nominal Effective
3 9.55% 9.90% 3.00% 3.03%    
6 10.30% 10.57% 3.50% 3.53% 0.50% 0.50%
9 10.50% 10.64% 4.20% 4.22% 0.80% 0.80%
12 10.65% 10.65% 4.50% 4.50% 1.70% 1.70%
18 10.80% 10.53% 4.60% 4.55% 1.90% 1.89%
24 11.15% 10.59% 5.00% 4.88% 2.10% 2.08%
36 12.15% 10.92% 4.00% 3.85% 2.30% 2.25%
48 13.00% 11.04% 4.00% 3.78% 2.00% 1.94%
60 13.50% 10.87% 4.00% 3.71% 2.00% 1.92%

 


Interest

Term
(month)

 GEL USD EUR
Nominal Effective Nominal Effective Nominal Effective
3 9.45% 9.87% 2.50% 2.53%    
6 10.10% 10.58% 3.00% 3.04% 0.40% 0.40%
9 10.15% 10.64% 3.70% 3.76% 0.70% 0.70%
12 10.20% 10.69% 4.00% 4.07% 1.60% 1.61%
18 10.10% 10.58% 4.10% 4.18% 1.8-% 1.81%
24 10.15% 10.64% 4.20% 4.28% 2.00% 2.02%
36 10.45% 10.97% 3.50% 3.56% 2.20% 2.22%
48 12.00% 12.58% 3.50% 3.56% 1.50% 1.51%
60 12.50% 13.24% 3.50% 3.56% 1.50% 1.51%

 

 

 

 

Calculating discount certificate of deposit’s current value: 
CP=NP/(1+R/365  ×RD)
Where:
CP Discounted certificate of deposit’s current value
NP Discounted certificate of deposit’s nominal value
R Annual interest rate
RD Number of days remaining starting from the selling date of the discount certificate of deposit up until it’s expiration date.
 
Calculating interest-earning certificate of deposit’s current value: 
CP=NP+NP×R/12×CI/DM
Where:
CP Interest-earning certificate of deposit’s current value
NP Interest-earning certificate of deposit’s nominal value
R Annual interest rate
RD Number of days starting from last date of earning accrued interest up until selling date of Interest-earning certificate of deposit
DM Number of days starting from last date of earning accrued interest until the consecutive date of interest accrual
 
Buyout of the certificate is the right of the bank, not its obligation. 
In case the Bank approves client’s request to buyout the Certificate before its expiration date, the selling interest rate will equal to the gained interest on the certificate + 4%  GEL; +3% USD/EURO, of which the client pays the Bank for the remaining period of the initial term.

 

 As of 1 January 2018, the bank participates in the Deposit Insurance System established on the basis of the Law of Georgia. All sums existing at all individual accounts, regardless of the number of accounts, are insured for each bank and are compensated by the Deposit Insurance Agency up to 15,000 GEL; the remainder shall be compensated as provided under the effective legislation of Georgia.
For more information on deposit insurance systems, see the website of LEPL Deposit Insurance Agency: www.diagency.ge