Frequently Asked Questions

How can Bank of Georgia pay high interest on deposits?

Georgia is a frontier market and interest rates on loans are high in comparison to developed countries. As historically interest rates on deposits and loans are decreasing we believe that this opportunity is a medium term because the interest rate gap between Georgia and developed countries will continue to decrease as the country moves forward.


Do you offer credit cards to International Clients?

Bank of Georgia Wealth Management department offers Visa Infinite Cards to it’s clients. Visa Infinite card is the highest hierarchy of Visa cards (Black Card). It’s a debit card that can be used all over the world in ATMs and it has benefits that we can divide in two parts. VISA International offers Concierge service, Travel Insurance, Fraud Insurance etc. Bank of Georgia offers Free ATM withdrawal all over the world and daily interest accrual on the card account.

Bank of Georgia also offers NIS Visa cards specially created for our Israeli clients.


Who is the auditor of Bank of Georgia?

Bank of Georgia is audited by Ernst & Young.


Is there a deposit insurance in Georgia?

There is no government deposit insurance in Georgia. The only guarantee is the strong financials that are quarterly published and reputation that can be easily checked with our international partners.


How can people in Georgia afford paying 12-13-14% on mortgage?

First of all, most of the households own real estate. After the soviet Union collapsed, privatization was made in the country and most of the people got real estate. Currently if someone is applying for a mortgage, he/she has a starting capital, because of ownership of real estate, so a person does not have to borrow full amount of the house that he is buying. In the end person in Georgia does simply thinks that If I have say 1000 USD salary, I can afford paying 300 or 400 USD monthly mortgage rate does not have a crucial importance). On the business side, companies can also pay 15% business loans because in General if the company in Georgia does not make 30% profit, it is not considered as good business.