SAVINGS AND DEPOSITS
In order to implement Decree No 3968 of President of Republic of Uzbekistan dated February 20, 2008 re: “Steps to Liberalize the Deposit Conditions and Guarantees of Population’s Savings in Commercial Banks”, to re-enforce the bank resource bases, to encourage the population, to encourage attraction of disposable funds to banks, new kinds of attractive saving deposit services are being introduced.
For instance, there are 23 kinds of attractive deposits, of which 22 are time deposits. The new kinds of deposits are being introduced considering the demands and wishes of the population and they being widely advertised through the mass media of the country.
As a result of the undertaken activities and growth of the population’s trust in the banking system, 70% growth was achieved in the population’s savings balance as of January 1, 2009 against the previous year.
In the 2008 competition for introduction of new kinds of deposits, wide advertisement among the population and attraction of disposable funds of individuals to savings accounts held by the Central Bank and Association of Banks for commercial banks, Joint-Stock Commercial Microcreditbank was found as the winner of “The Best Innovation Bank” Award. Beside this, “Yoshlik” Mini-Bank, Operations Department, Navoi Region, was awarded 1st Degree Certificate of “The 2008 Best Mini-Bank for Attraction of Urban Population’s Savings”, the Manghit Branch, Republic of Karakalpakstan, was awarded 2nd Degree Certificate of “The 2008 Best Branch for Attraction of Rural Populations’ Savings” and the Dostlik Mini-Bank, Operations Department, Jizzak Region, was awarded 3rd Degree Certificate of “The 2008 Best Mini-Bank for Attraction of Rural Populations’ Savings”.
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№
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NAME DEPOSIT
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TARGET DATE
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ANNUAL INTEREST RATE
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REMARKS
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1.
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Demand deposits
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unlimited
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2%
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Funds are received by cash and cashless means and are given due to first request of depositor.
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2.
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«Motherland»
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3 months
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18%
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Funds are received by cash, interests are paid to depositor every month.
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3.
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«Harmoniously developed generation»
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1 year
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24%
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Funds are received by cash, interests are paid to depositor every month. Interests are added to the deposit amount and capitalized.
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4.
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«Hope»
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1 -15 years
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14%
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Funds are received by cash, interests are paid to depositor when the time of deposit expires. (This kind of deposit is open for the inmate of a Children’s Home)
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5.
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«Mercy»
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3 months
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14%
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Funds are received by cash, interests are paid to depositor every month. Interests are added to the deposit amount and capitalized.
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6.
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«Early spring»
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6 months
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18%
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Funds are received by cash, interests are paid to depositor every month. Interests are added to the deposit amount and capitalized.
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7.
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«Spring»
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45 days
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14%
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Funds are received by cash, interests are paid to depositor when the time of deposit expires.
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8.
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«Trust»
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1 year
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4%
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Funds are received in US Dollars, interests are paid (in UZB Sums) to depositor when the time of deposit expires.
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9.
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«Swallow»
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15 days
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14%
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Funds are received by cash, interests are paid to depositor when the time of deposit expires.
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10.
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«Great future»
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1,3,6,9,12,15 months
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14%
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Funds are received by cash, interests are paid to depositor every month.
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11.
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«Treasure of family»
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1-12 months
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14%
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Funds are received by cash and cashless, interests are calculated every month and directed to public utilities of the depositor.
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12.
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«Capital»
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1, 2, 3 года
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24%
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Funds are received by cash, interests are paid every month. Can be received additional funds to the deposit. Amount is added to the deposit and capitalized.
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13.
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«Guaranty »
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5 months
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US $ 1000 — 5%
US $ 1000—5000 — 5,5%
US $ 5000—15000 — 6%
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Funds are received in US Dollars, interests are paid (in UZB Sums) to depositor when the time of deposit expires.
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14.
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«Trust-plus»
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1 year
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4,2%
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Funds are received in US Dollars, interests are paid (in UZB Sums) to depositor when the time of deposit expires.
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15.
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«Perspective»
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6 months
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18%
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Funds are received by cash, interests are paid to depositor every month (bonus is 6%).
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16.
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Plastic card
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Till requested
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7%
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Interests are directed to the deposit and capitalized
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17.
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Treasure card
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Till requested
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7%
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Interests are directed to the deposit and capitalized
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18.
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«Honarable»
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18 months
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24%
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Funds are received by cash, interests are paid every month. Can be received additional funds to the deposit. Amount is added to the deposit and capitalized. (This kind of deposit is open for pensioners)
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19.
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Universal
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3 months
6 months
1 year
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5%
6%
7%
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Funds are received in foreign currency, interests are paid when the time of deposit expires
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20.
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«Flower bud»
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From 1 to
15 years
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14%
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Funds are received by cash, interests are paid to depositor every month. Can be received additional funds to the deposit. Amount is added to the deposit and capitalized. (This kind of deposit is open for children)
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