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Home / Banking / Leading Commercial Banks Raised Interest Rates on Deposits in GEL

Leading Commercial Banks Raised Interest Rates on Deposits in GEL

Leading commercial banks have raised interest rates on GEL-denominated deposits, but lowered the rate on foreign currency denominated deposits.

Currently, yield on GEL-denominated retail deposits accounts for 9.8%; foreign currency denominated retail deposits – 2.9% (01.01.2016: 9%; 3.4%)

According to the national bank statistics, for legal bodies, annual interest rate on GEL-denominated deposits accounts for 7.3% (current, demand term deposits), while in foreign currency denominated deposits the figure makes up 3% (01.01.2016 8%; 3%).

Top interest rate on one-year deposit makes up 11.5%.

1 Liberty Bank 11.5% 2%●1.5%
2 TBC Bank 10% 3.25%●1.75%
3 Bank of Georgia 10% 3,0%●1.5%