What is Golden Deposit?
Golden Deposit is a term deposit insured with gold.
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What does insurance with gold mean?
TBC Bank acquires gold to solidify the deposit. This gives you a chance to get more interest and secures the deposit even more. If the price of gold increases the deposit earns interest higher than the standard rate. Deposits, insured with gold are amongst preferred in Eastern Europe.
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Who can open Golden Deposit?
This deposit is available for individuals as well as legal entities.
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What is the interest on the deposit?
The interest varies from 7% to 14%, depending on the changes in the price of gold throughout the term of the deposit.
10% is a guaranteed interest rate that is accrued on the deposit, despite all the changes. However, if during one year, price of gold:

When is interest accrued on the deposit?
Interest is accrued at the end of the deposit term

What does change in price of gold mean?
This is a percentage change between the initial and the ending price, according to New York Mercantile Exchange (NYMEX) market. The exact calculation is done by the following formula:
(P2-P1)/P1*100%, where P1 is the initial price, and P2 is the ending price

What is meant by initial and ending prices?
Initial price – price in USD for 1 ounce of gold on NYMEX, fixed a day before opening the deposit.
Ending price – price in USD for 1 ounce of gold on NYMEX, fixed on the 25th* of the month before the end of the deposit term.

What advantages does Golden Deposit have in relation to other deposits?
Golden Deposit is additionally insured with gold. For this reason, it accrues 2% less interest than the standard term deposit. However, with the increase in the price of gold you have the chance to earn far more than the standard interest rate.

What guarantee do I have that the price of gold will rise?
Gold has been one of the most secure currencies throughout centuries. Its value has constantly been increasing. During only the last five years, its price has doubled.

As a rule, value of gold rises both in recession and in economic boom. This gives us a solid probability that gold will continue to rise in value and you will have the chance to gain more from your deposit.

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What is the percentage accrued in case of premature cancellation of the deposit?
In the event of premature cancellation of agreement, the deposit will accrue 2%, considering the date of opening and the date of termination.
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Is it possible to take a loan with deposit as collateral?
Yes. In this case, the interest rate on the loan will be 18%.
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Is it possible to receive gold equivalent to my deposit amount?
TBC Bank insures the deposit with gold, but does not issue gold instead of the deposit amount.
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What is the term of Golden Deposit?
You can open the deposit for 1 year.
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Can I add or withdraw money from the deposit during its term?
In case of adding money, you have the possibility to open another deposit with just 500 USD savings. However, if you need to withdraw money, you can prematurely cancel you deposit, or take a loan with your deposit as collateral.
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*this date is different for every deposit. It varies from 23rd to 28th of each month.