Bank Deposits in Uzbekistan: 2026 Interest Rates at 16 Banks as of 23 September
On 23 September 2026 we checked the rates on soum deposits for individuals on the official websites of 16 banks: the highest among them is 20–20.05% per annum, and most offer 16–18%. We show how these rates compare with the Central Bank's 14% rate, how the deposit guarantee of up to 200 million soums works and when interest is taxed.
In brief: according to the deposit pages on the official websites of 16 banks, captured by our editorial team on 23 September 2026, the highest interest on soum deposits for individuals among these banks in Uzbekistan is 20–20.05% per annum: at AVO Bank (20.05% for 12 months, with a yield of up to 22% with compounding), ANORBANK (20% for 24 months) and APEX Bank (20% on the PRIME deposit from 200 million soums). At 11 of the 16 banks the maximum is 16–18%. For comparison: the main rate of the Central Bank of Uzbekistan is 14% (held on 16 September 2026), and the weighted average rate on term deposits of individuals in soums for June 2026 was 19.2%, according to the Central Bank. The Deposit Guarantee Agency (a state institution) pays compensation of up to 200 million soums per depositor at a single bank (Article 26 of Law No. ZRU-1031). Rates above 20.05% appear only in unverified data: 23% at Tayanchbank according to a Spot review of 25 August 2026 (the bank's website did not open on 23 September 2026).
Key figures as of 23 September 2026:
- The main rate of the Central Bank of Uzbekistan is 14%, board decision of 16 September 2026; the next meeting is on 28 October 2026 (Central Bank press release).
- The weighted average rate on term soum deposits of individuals is 19.2% for June 2026, against 21.4% in June 2025 (Central Bank statistics, updated 7 September 2026).
- The deposit guarantee is 200 million soums per depositor at a single bank, across all currencies combined, including accrued interest (ZRU-1031, Articles 25–26).
- Interest on residents' deposits is not taxed (Tax Code, Article 378, paragraph 13); for non-residents the rate is 10% (Article 382) (Tax Code).
Soum deposit rates: table for 16 banks as of 23 September 2026
The table shows the maximum rate on a soum deposit for individuals that each bank lists on its deposits page, and the terms where they are stated there. Banks are sorted by rate, highest first. Terms depend on the application channel and the amount: check them in the contract.
| Bank | Deposit | Rate, per annum | Term | Terms (as on the bank's page) |
|---|---|---|---|---|
| AVO Bank | Term deposit | 20.05% (yield up to 22% with compounding) | 12 months | Online in the app; minimum 1,000 soums, base rate from 100,000 soums (below that — 0.01%); top-ups and partial withdrawals |
| ANORBANK | MILLIY HAR KUNLIK | 20% | 24 months | Interest paid daily to a Mastercard Milliy card; top-ups and partial withdrawals with a balance of at least 1 million soums; only for the bank's cardholders |
| APEX Bank | PRIME (UZS) / IMPULSE | 20% / 19% | 36 / 24 months | PRIME — from 200 million soums, IMPULSE — from 500,000 soums; top-ups and partial withdrawals |
| Agrobank | Sandiq / Progress | 18% | 18 / 13 months | Sandiq — from 100,000 soums, top-ups and partial withdrawals; Progress — from 500,000 soums; opened via Agrobank Mobile |
| Davr Bank | UNIVERSAL | 18% | 25 months | From 1 million soums, online or at a branch; on early withdrawal — 14% for the actual term |
| Ipak Yuli Bank | Oddiy-18 / Qadam-18 | 18% | 24 months | Oddiy-18 — at a branch, Qadam-18 — online; interest paid monthly |
| Ipoteka Bank | Oddiy | up to 18.0% | 12 months | From 500,000 soums; listed under "Deposits at bank cash desks" |
| TBC Bank | Term deposit | up to 18% (up to 18.71% with compounding) | 3–24 months | Online in the app only; in the calculator: 3 and 6 months — 18%, 13 months — 17%, 24 months — 16% |
| Turonbank | Maksimum / Imkoniyat plus | 18% | 18 / 12 months | Maksimum — online, top-ups and partial withdrawals; Imkoniyat plus — at the cash desk |
| Hamkorbank | Ishonch | 17% | 12 months | Online, from 100,000 soums, top-ups, monthly payouts |
| Kapitalbank | Kapital Ziynat | 16% | 25 months | From 100,000 soums; top-ups — yes, withdrawals — no; last changed on 21 September 2026 |
| Aloqabank | Intellekt | 16% | 24 months | Can be opened online; top-ups and partial withdrawals |
| Trastbank | Zamin / Onlayn-Zamin | 16% | 18 months | Term deposit |
| SQB | Optimal (UZS) | 16% | 15 months | No top-ups or partial withdrawals; opened in SQB Mobile or at an office |
| Uzum Bank | Flexible-terms deposit | 15% (yield up to 16%) | 9 months | Online, from 500,000 soums; interest paid daily; early closure without recalculation |
| Asakabank | Maximum Income (Maksimalny Dokhod) | up to 14% (15–16% in the calculator on the page) | up to 13 months | From 100,000 soums; at a branch or in the app; no top-ups or compounding |
SQB's deposits page also lists the Imkoniyat-1 and Imkoniyat-2 deposits at 23% and 24% for 3 months, but the bank describes them as a "special deposit for transferring funds from existing deposits" (Jozibali and Manfaatli, Barakali and Foyda) (translated from Russian), so they are not included in the table.
What we could not confirm on bank websites on 23 September 2026:
- National Bank (NBU) — the nbu.uz website did not open from our side. According to the aggregator Bank.uz, the "For Everyone" deposit pays from 13 to 18%.
- Tayanchbank — the website did not open. According to a Spot review of 25 August 2026, the bank has the highest rate on the market — 23% with daily interest payments and an amount limit of 200 million soums.
- Xalq banki — the page for the Online ommabop deposit states 21% for 18 months, but the page is undated, and Bank.uz (Standart deposit — from 18%) and Spot on 25 August 2026 (16%) show different rates for the bank. The bank is not included in the table pending confirmation.
How deposit rates relate to the Central Bank's 14% rate
According to the Central Bank, the weighted average rate on term soum deposits of individuals in June 2026 (19.2%) was 5.2 percentage points above the 14% main rate. At the same time, the average rate is falling while the Central Bank rate stays unchanged: per Central Bank statistics, from 20.6% in January 2026 to 19.2% in June (20.5% in March, 19.9% in April, 19.7% in May); in June 2025 it was 21.4%.
Put simply, with annual inflation at 6.2% for August 2026 (per Central Bank data), a deposit at 18% per annum yields about 11.8 percentage points above price growth. In its press release of 16 September 2026 the Central Bank names positive real rates as a factor supporting the propensity to save. More on the decision in our article "Uzbekistan Holds Its Main Rate at 14%".
According to the banks' descriptions, the rate on some deposits is set relative to the Central Bank's main rate:
- at Kapitalbank, the "% every day" and "% monthly" deposits pay 13%; the bank's page describes the rate as "13% of the main rate of the CB RUz. minus 1 (one) %" (translated from Russian);
- at Agrobank, the Baxtli bolalik children's deposit pays "at the Central Bank's main rate" (translated from Russian).
Compared with the Spot review of 25 August 2026, some banks now list lower rates: Kapitalbank had 18% in the review and 16% on its website on 23 September 2026 (the change is dated 21 September 2026); TBC Bank — 20% against "up to 18%"; Davr Bank — 19.5% against 18%; Ipak Yuli Bank — 19% against 18%. Spot's table has one row per bank without the deposit name, so specific deposits cannot be matched.
Deposit guarantee: 200 million soums per depositor at a single bank
The law "On guarantees for the protection of bank deposits" (Law No. ZRU-1031 of 18 February 2025, in force since 19 February 2025; the current version on lex.uz is dated 29 June 2026) provides:
- Amount of compensation (Article 26): the full balance if it does not exceed 200 million soums, and 200 million soums if it does. If a depositor has several deposits at one bank, total compensation does not exceed this limit "regardless of the amount and currency" of the deposits (translated from Russian).
- What is guaranteed (Article 25): deposits of individuals, including individual entrepreneurs, and of legal entities in soums and foreign currency (with exceptions listed in the same article), including interest accrued but not paid. Foreign-currency deposits are compensated in soums at the Central Bank exchange rate on the date of the guarantee event (Article 27).
- Deadlines (Article 29): the Deposit Guarantee Agency must give at least three quarters of a bank's depositors access to compensation within 15 working days of the guarantee event from 1 January 2026, and within 7 working days from 1 January 2027.
The practical takeaway: the limit applies per bank, not per deposit. Any amount above 200 million soums at one bank is not covered by the guarantee — this matters, for example, for the APEX Bank PRIME deposit, which is opened from 200 million soums.
Tax on deposit interest in Uzbekistan
- Residents: paragraph 13 of Article 378 of the Tax Code (of 30 December 2019, in force since 1 January 2020) classifies "interest and winnings on deposits in banks" as income not subject to taxation (translated from Russian).
- Non-residents: the tax base is determined "without applying tax benefits" (Article 366), and "dividends and interest" are taxed at a rate of 10% (Article 382) (translated from Russian).
The non-resident's tax is withheld by the bank when interest is paid — this is stated, for example, on the pages of Uzum Bank and Ipak Yuli Bank. Uzum Bank's page also says that withheld tax can be refunded only to a tax resident of Uzbekistan with a tax residency certificate.
What to look at besides the rate
- Rate and yield. AVO Bank lists a rate of 20.05% and a yield of up to 22% thanks to monthly compounding; Uzum Bank lists a rate of 15% and a yield of up to 16% thanks to daily compounding. Compare rate with rate and yield with yield.
- Early closure. At Davr Bank interest on early withdrawal is recalculated at 14% per annum, at TBC Bank at 8 to 15% depending on the term, and at Asakabank at 0% in the first month and 14% afterwards. Uzum Bank says it closes deposits early without recalculating interest.
- Channel and minimum. Some deposits can be opened only in the app (AVO Bank, TBC Bank), the ANORBANK deposit is only for the bank's cardholders, and the APEX Bank PRIME deposit starts from 200 million soums.
- Top-ups and withdrawals. Kapital Ziynat allows top-ups but not withdrawals; Asakabank's Maximum Income deposit allows neither.
FAQ
Which bank in Uzbekistan offers the highest interest on a soum deposit? Among the 16 banks whose deposit pages our editorial team checked on 23 September 2026, the maximum is 20.05% at AVO Bank, with 20% each at ANORBANK and APEX Bank (the PRIME deposit from 200 million soums). According to the Spot review of 25 August 2026, Tayanchbank offers 23%, but the bank's website did not open on 23 September 2026.
What is the average rate on soum deposits in 2026? According to the Central Bank, the weighted average rate on term soum deposits of individuals was 19.2% per annum for June 2026. In January 2026 it was 20.6%, and in June 2025 — 21.4%.
How much of a deposit is guaranteed by the state? Under Article 26 of Law No. ZRU-1031 — up to 200 million soums per depositor at a single bank. The limit is shared by all deposits at that bank in all currencies and includes accrued interest.
Do I have to pay tax on deposit interest? Residents of Uzbekistan do not: interest on bank deposits is exempt under paragraph 13 of Article 378 of the Tax Code. Non-residents pay 10% (Article 382), and the tax is withheld by the bank when interest is paid (as stated on the pages of Uzum Bank and Ipak Yuli Bank).
Will the rate on my deposit change after a Central Bank decision? It depends on the type of deposit. The terms of a term deposit are fixed in the contract (as stated, for example, in the description of Davr Bank's UNIVERSAL deposit), whereas for deposits whose rate is set relative to the Central Bank's main rate — for example, Kapitalbank's "% every day" (the Central Bank rate minus 1 percentage point) — it depends on Central Bank decisions; check your contract for how the rate on an already opened deposit is revised. The next Central Bank meeting is on 28 October 2026.
What happens if I close a deposit early? It depends on the bank's terms: Davr Bank recalculates interest at 14% per annum, TBC Bank at 8 to 15%, Asakabank at 0% in the first month, while Uzum Bank closes the deposit without recalculation. TBC Bank says that on recalculation, accrued interest is reduced "less the difference" (translated from Russian).
How does a deposit rate differ from its yield? The rate is the interest the bank accrues, while the yield takes compounding into account, that is, interest on interest. For example, at AVO Bank a rate of 20.05% with monthly compounding gives, by the bank's calculation, a yield of up to 22% per annum.
Sources
- Deposit pages on bank websites, rates captured on 23 September 2026: AVO Bank; ANORBANK — deposits and MILLIY HAR KUNLIK; APEX Bank; Agrobank; Davr Bank — UNIVERSAL; Ipak Yuli Bank; Ipoteka Bank; TBC Bank; Turonbank; Hamkorbank; Kapitalbank; Aloqabank; Trastbank; SQB; Uzum Bank; Asakabank — Maximum Income; Xalq banki — Online ommabop (undated)
- Central Bank of Uzbekistan: press release of 16 September 2026 on holding the main rate at 14%; deposit and loan interest rates in the national currency (updated 7 September 2026); annual inflation
- Law No. ZRU-1031 "On guarantees for the protection of bank deposits" of 18 February 2025, lex.uz, Articles 25–27, 29
- Tax Code of the Republic of Uzbekistan of 30 December 2019 (in force since 1 January 2020), lex.uz, Articles 366, 378, 382 (Article 382 as amended by Law No. ZRU-785 of 26 July 2022)
- Spot, 25 August 2026: the most profitable soum deposits for August 2026; Bank.uz: soum deposits (captured 23 September 2026)
