Tbilisi (GBC) - Banks reduce interest on term deposits. As of May 16, Liberty Bank has the highest yield offer in USD at -3.9%.

A resident, as well as a citizen of another country, can make a fixed deposit in 3 currencies, GEL, USD and Euro. In British pounds in the Bank of Georgia and TBC (BOGG - 1.5%; TBC - 0.15%).

According to the explanation of the head of the financial stability department, Davit Utiashvili, the rate reduction is related to the softening of the monetary policy. The decline in the refinancing rate was reflected in the market a little late.

Systemic banks lowered rates in April. TBC reduced it in GEL, as well as in USD. The Bank of Georgia only reduced it in GEL, on the contrary, it increased the currency. It increased by 0.5% in the USD.

At the moment, Credo offers the highest benefit in GEL -2.8% to its customers, although the former MFO is not included into the TOP 7 of billionaires. The rating represents banks with a deposit portfolio of more than 1 billion.