VTB (Azerbaijan) raises interest rates on manat deposits

VTB (Azerbaijan) increased rates on key deposits by 0.5-1 percentage points. The maximum yield will be 12%. By the end of 2024, the portfolio of funds attracted from retail clients of the bank increased by 7%, amounting to 70 million manat.

• For the "Profitable" deposit, the rate is 12% per annum when placed for 12 months. The product is available for a period of 3 to 36 months in three currencies: Azerbaijani manats, US dollars and Russian rubles.
• The maximum rate on the "Advance" deposit has been increased to 11% per annum for a placement period of 12 to 18 months. A special feature of the product is the ability to receive all interest for the entire term on the day the deposit is opened.
• For the "Target" deposit, the maximum rate has reached 11.5% per annum when placed for 36 months. The deposit is also available in three currencies and provides the ability to replenish throughout the entire term.

"Based on the results of last year, we note a 7% growth in the portfolio of liabilities of individuals, which indicates the desire of clients to place funds in classic instruments. We continue to keep our rates at market values ​​and offer clients deposits with different options - for example, with the ability to replenish or withdraw interest for the entire term on the day of opening the deposit. This is especially relevant for those who urgently need funds," said Evgeny Borodin, member of the board, director of the retail business development department of VTB (Azerbaijan).

You can open and replenish deposits in VTB (Azerbaijan) at any branch of the bank in the republic.