Life Savings Account

Life Savings Account

With the Life Savings Account, you can start saving from 100 AZN, in AZN currency, for a period of 36 months. During this period, your contributions are rewarded with an 18% return, helping you achieve your financial goals more effectively.

Throughout the 36-month term, AFB Bank applies a one-time 18% return to each monthly contribution you make.

Monthly Contribution Period

The customer selects one of the following monthly contribution periods. The selected period remains applicable throughout the entire contract term.

• From the 1st to the 10th day of each month (inclusive)
• From the 11th to the 20th day of each month (inclusive)
• From the 21st day until the end of the month

Benefits

Complimentary Platinum Card for Interest Payments

To receive your accrued interest at the end of the term, you will be provided with a 48-month Mono Platinum payment card (Mastercard or Visa) free of charge.

Unlimited Top-Up Opportunity

You can increase your account balance every month with no upper limit on additional contributions.

Notes

* During the first 18 months, no maximum limit applies to the amount deposited into the account, and returns are calculated on the full amount actually contributed.

From months 19 to 36, returns are calculated only on an amount equal to the contribution made in the first month. Any contributions exceeding the first month's contribution during this period do not earn returns.

* During the first 18 months, the customer is required to contribute at least the amount of the first month's contribution (either in full or partially) and is entitled to make unlimited additional contributions within the selected contribution period.

* If the savings account is terminated before maturity, the accrued interest amount will not be paid.

* If the savings account is frozen at the customer's request, both the accrued return and the contributed principal amount will be paid only at the end of the contract term.

* If the customer withdraws or reduces the deposited funds before maturity, the accrued return under the program will not be paid.

Additional Terms

• The accrued interest will be paid 30 (thirty) days after the completion of the 36-month contribution period.
• If the customer makes a contribution after the selected contribution period has expired, the contribution will be considered as a contribution for the following month's period.