Beating the Fluctuations: Terabank Introduces the ‘Convertible Deposit’

Terabank’s customers will now be able to use a new, innovative product, the Convertible Deposit, the key features of which are a high-interest rate and flexibility during currency rate fluctuations.

The Convertible Deposit allows customers to exchange the deposited amount into the desired currency at any time throughout the deposit term without cancelation of the initial deposit. The number of exchanges is unlimited, making this a unique product on the Georgian market. Terabank’s representatives say that creation of the product was inspired by the current financial situation and market requirements.

“Currency rate fluctuation is rather a focal issue,” says Keti Mghebrishvili, Head of Terabank’s Retail Sales Department. “Considering the existing situation, we decided to offer the relevant profitable product. Customers can always make exchange operations, which will allow them to feel safe during currency fluctuations. The deposit responds to customer needs so well, I’ve no doubt it will be interesting for many.”

Opening a Convertible Deposit is free of charge and customers doing so will receive additional gifts.

Terabank also recently intoduced another innovative product called 'Tourist Mortgage' to customers. This product is intended for those who want to purchase, renovate or improve the design of their real estate in Tbilisi or Georgia’s tourist regions for rental purposes, as well as for persons who are in need of additional finances.

Terabank seeks to consistently respond to the market requirements and trends with its new products.