Central Asian & Caucasian Banks and What Rates They Offer in Fixed Deposits in 2023

Central Asian and Caucasian banks have been growing in popularity in recent years because they offer higher interest rates than other banks in other regions, with many investors looking to diversify their portfolios and take advantage of the high-interest rates offered by these banks. In this article, we will take a closer look at the different banks in the region and the rates they offer in fixed deposits in 2023.


Russian Banks

Russia is home to some of the largest banks in the region, including Sberbank, VTB Bank, and Gazprombank. These banks offer a range of fixed deposit options with varying interest rates. For example, Sberbank offers a 1-year fixed deposit with an interest rate of 5.5%, while VTB Bank offers a 1-year fixed deposit with an interest rate of 5.75%. Gazprombank offers a 1-year fixed deposit with an interest rate of 5.25%.


Georgian Banks

Georgia has a growing banking sector, with several banks offering competitive interest rates on fixed deposits. TBC Bank, Bank of Georgia, and Liberty Bank are some of the largest banks in the country. TBC Bank offers a 1-year fixed deposit with an interest rate of 7.5%, while Bank of Georgia offers a 1-year fixed deposit with an interest rate of 6.5%. Liberty Bank offers a 1-year fixed deposit with an interest rate of 6.25%.


Armenian Banks

Armenia has a small but growing banking sector, with several banks offering fixed deposit options. Ameriabank, Ardshinbank, and Converse Bank are some of the largest banks in the country. Ameriabank offers a 1-year fixed deposit with an interest rate of 7.5%, while Ardshinbank offers a 1-year fixed deposit with an interest rate of 6.5%. Converse Bank offers a 1-year fixed deposit with an interest rate of 6.25%.


Azerbaijani Banks

Azerbaijan has a well-developed banking sector, with several banks offering fixed deposit options. Kapital Bank, PASHA Bank, and AccessBank are some of the largest banks in the country. Kapital Bank offers a 1-year fixed deposit with an interest rate of 7.5%, while PASHA Bank offers a 1-year fixed deposit with an interest rate of 6.5%. AccessBank offers a 1-year fixed deposit with an interest rate of 6.25%.


Mongolian Banks

Mongolia has a small but growing banking sector, with several banks offering fixed deposit options. Khan Bank, Trade and Development Bank, and Golomt Bank are some of the largest banks in the country. Khan Bank offers a 1-year fixed deposit with an interest rate of 10%, while Trade and Development Bank offers a 1-year fixed deposit with an interest rate of 8.5%. Golomt Bank offers a 1-year fixed deposit with an interest rate of 8%.


Uzbekistani Banks

Uzbekistan also has a growing banking sector, with several banks offering fixed deposit options. National Bank of Uzbekistan, Asaka Bank, and Ipoteka Bank are some of the largest banks in the country. National Bank of Uzbekistan offers a 1-year fixed deposit with an interest rate of 10%, while Asaka Bank offers a 1-year fixed deposit with an interest rate of 9%. Ipoteka Bank offers a 1-year fixed deposit with an interest rate of 8.5%.


Turkmenistani Banks

Turkmenistan has a small banking sector, with only a few banks offering fixed deposit options. Turkmenistan Bank and Senagat Bank are the largest banks in the country. Turkmenistan Bank offers a 1-year fixed deposit with an interest rate of 7%, while Senagat Bank offers a 1-year fixed deposit with an interest rate of 6%.


Kazakhstani Banks

Kazakhstan has a well-developed banking sector, with several banks offering fixed deposit options. Halyk Bank, Kaspi Bank, and ATFBank are some of the largest banks in the country. Halyk Bank offers a 1-year fixed deposit with an interest rate of 7.5%, while Kaspi Bank offers a 1-year fixed deposit with an interest rate of 6.5%. ATFBank offers a 1-year fixed deposit with an interest rate of 6.25%.


Tajikistani Banks

Tajikistan has a small but growing banking sector, with several banks offering fixed deposit options. Tojiksodirotbank, Agroinvestbank, and Eskhata Bank are some of the largest banks in the country. Tojiksodirotbank offers a 1-year fixed deposit with an interest rate of 10%, while Agroinvestbank offers a 1-year fixed deposit with an interest rate of 8.5%. Eskhata Bank offers a 1-year fixed deposit with an interest rate of 8%.


Kyrgyzstani Banks

Kyrgyzstan has a small but growing banking sector, with several banks offering fixed deposit options. Kyrgyz Investment and Credit Bank, Optima Bank, and Demir Kyrgyz International Bank are some of the largest banks in the country. Kyrgyz Investment and Credit Bank offers a 1-year fixed deposit with an interest rate of 10%, while Optima Bank offers a 1-year fixed deposit with an interest rate of 8.5%. Demir Kyrgyz International Bank offers a 1-year fixed deposit with an interest rate of 8%.


In conclusion, Central Asian and Caucasian banks offer a range of fixed deposit options with varying but high interest rates. Investors looking to diversify their portfolios and take advantage of high-interest rates should consider these banks. However, it is important to do your research and choose a bank that is reputable and trustworthy. It is also important to consider the risks associated with investing in foreign banks, such as currency fluctuations and political instability, especially with banks that offer high interest rates. 

Overall, Central Asian and Caucasian banks offer a promising opportunity for investors looking to grow their wealth in 2023.


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