Ayandeh Bank extends deadline for CD issuance

Ayandeh Bank extends deadline for CD issuance

Ayandeh Bank has extended the deadline for issuing credits of deposit (CDs) to March 1 as the new Iranian calendar year, March 20, is approaching. 
The offered CDs yield simple interest rate of 20 percent, payable on a monthly basis. Further deadline extensions will be announced just in case. 
Ayandeh Bank began issuing time certificates of deposit for a third round on January 29. 
In a second notice, the bank said it would continue considering CD requests until February 10. 
The bank started issuing a second round of one-year certificates of deposit (CDs) on January 1st for a limited period of six working days. 
A CD is a savings certificate with a fixed maturity date, specified fixed interest rate and can be issued in any denomination aside from minimum investment requirements. A CD restricts access to the funds until the maturity date of the investment.