Unibank deposits review

The headline rate of 7% to 10.5% applies on a fixed basis, so the figure holds for the whole term. That sits above the upper quartile of 4.15% among savings accounts on the site and well over the median of 3%.

The minimum deposit is AZN 500, a little above the fixed deposit median of €190 across the site. Terms run 3 to 24, and the balance is held in manat through UNIBANK Commercial Bank Open Joint-Stock Company.

Access terms allow withdrawal at maturity or a monthly interest payout, and premature withdrawal pays a cut of the annual rate rather than the full amount. With a term of 3 to 24 at a fixed rate, taking money out early lowers what the balance earns.

The account kind is fixed and the model is fixed rate, so the balance is placed for a set period and the rate holds throughout. Terms run 3 to 24, giving a spread of lengths to choose from. Easy access savings are the more common account kind on the site at 76.7%.

Terms run 3 to 24, so the length is a choice within a range rather than a single set period. The median term among comparable fixed products on the site is 12. A fixed rate means the return does not shift with market moves during that time.

The Central Bank of the Republic of Azerbaijan licenses the bank under 73. A second licence from the State Securities Committee of the Republic of Azerbaijan appears as 51. Bank licences cover 54.5% of the savings accounts compared here.

Support runs by email, chat and phone, which covers phone, chat, email and a help centre. Phone is the most common channel among the savings accounts compared at 82.6%, with a help centre following at 76.7%.

The headline rate of 7% to 10.5% is well above the savings account median of 3%, though easy access accounts remain the most common kind at 76.7%. Fixed deposits account for 17.2% of what the site compares, so this is a narrower, longer commitment.