What is an insured deposit?

Which deposits are eligible for the insurance scheme?

• If your deposit was opened before March, 2nd 2016: all the deposits with the annual interest rate not exceeding 12% in foreign and 15% in national currency and with amount not exceeding AZN 30 000 are insured.  
• If your deposit was opened after March, 2nd 2016: all the deposits with the annual interest rate not exceeding 15% national currency and not exceeding 3% in foreign currency are insured.  
• If your deposit was opened after July, 1st 2019: all the deposits with the annual interest rate not exceeding 10% national currency and not exceeding 2.5% in foreign currency are insured.  
• If your deposit was opened after June, 1st 2020: all the deposits with the annual interest rate not exceeding 12% national currency and not exceeding 2.5% in foreign currency are insured. 
• According to the relevant legislation, which came into force on December 18, 2020, from April 5, 2021, each participating bank will be compensated in the amount of 100% of the insured deposit (provided that it does not exceed 100 thousand AZN).

Are the interest accrued on the deposit are compensated?

Yes, the interest accrued on deposits up to the date of the insurance incident, is compensated, with the condition that the total of the principal amount and interest amount don’t exceed the maximum compensation amount stipulated by the law.

 In which currencies the compensation will be paid?

• For deposits nominated in national currency – in AZN;
• For deposits nominated both in national currency and in foreign currency – in AZN as one deposit;
• For deposits nominated in USD – in USD and EUR;
• For deposits in other currencies - in USD or EUR calculated with the cross rate according to the Central Bank's official exchange rate on the date of the insurance incident.