Which bank in Georgia suits a foreign property buyer?
There is no single best bank; the right one is the bank that accepts your passport, charges a fair non-resident tariff and offers the services your purchase needs. Two banks dominate: TBC Bank and Bank of Georgia together held about 75% of all loans in April 2026. The third group formed in April 2026, when Basisbank bought 95.99% of Liberty Bank. Smaller banks, several of them foreign-owned, pay noticeably more on deposits. Whichever you choose, deposits are insured up to GEL 50,000 per person per bank since 1 April 2026, for non-residents too.
This page compares the banks on the points that matter to a buyer: size and ratings, published non-resident fees, deposit rates, insurance, remote opening, escrow and mortgages. How to open an account step by step is on our page on a bank account for a non-resident, and how to send the money on our page on transferring money.
The banking market in brief
The National Bank of Georgia's list of licensed commercial banks named 18 banks in October 2026, including three digital banks licensed since 2022 and a new licence issued on 5 October 2026. One of the 18, VTB Bank (Georgia), has been under US and UK sanctions since February 2022, and its retail portfolio was sold to Basisbank the same year; it is not a realistic choice for a foreign buyer. The Basisbank and Liberty Bank merger is due to be completed within about 12 months of April 2026, which will reduce the count by one.
| Bank | Owner or parent | Long-term ratings | Note |
|---|---|---|---|
| TBC Bank | TBC Bank Group PLC, listed in London | Fitch BB; Moody's Ba2 for deposits | One of the two largest banks |
| Bank of Georgia | Lion Finance Group PLC, listed in London | Fitch BB; Moody's Ba2 | 45.4% of individuals' deposits at the start of 2025 |
| Liberty Bank | Basisbank, 95.99% since 14 April 2026 | Fitch B+; Moody's Ba3 | 437 service points |
| Basisbank | Hualing group of China | Fitch B+ | With Liberty, about 10.64% of banking assets |
| Credo Bank | Shareholders include Gojo & Company of Japan and Proparco of France | - | Expat service centres |
| ProCredit Bank | ProCredit Holding of Germany | - | Package-based pricing |
The two largest banks are rated at the same level as Georgia itself, BB at Fitch, which is below investment grade. In February 2026 Moody's moved its outlook for the Georgian banking system from negative to stable.
What non-residents pay: published tariffs
| Bank | Opening or application | Monthly cost | Outgoing USD transfer |
|---|---|---|---|
| TBC Bank | GEL 50 application review, not refundable | Plan 10, GEL 10, the only plan for non-residents | 0.2%, minimum USD 15 |
| Bank of Georgia | Non-resident page not readable as text | SOLO packages for non-residents from GEL 35 | 0.2%, USD 15 to 500 |
| Basisbank | Free | GEL 5, 10 or 15 by package (residents GEL 2, 5 or 10) | 0.2%, USD 15 to 500 |
| Halyk Bank | GEL 50 | Free | 0.2%, USD 10 to 100 |
| Terabank | GEL 50 application review | GEL 1 | 0.2%, USD 15 to 500 |
| Credo Bank | Free | GEL 1, plus a cross-border fee in some cases | 0.2%, USD 15 to 500 |
| ProCredit Bank | Package | GEL 20 to 40 by number of currencies | USD 10, or USD 35 with all fees paid by the sender |
Three points stand out. Some banks charge a non-refundable fee just to review a non-resident's application, so ask before you apply. Package prices for non-residents can be higher than for residents, as Basisbank's published table shows. And small monthly charges can grow when an account is inactive: Terabank charges GEL 5 a month after 6 months without activity, and Credo charges foreign cardholders a cross-border fee unless the card was used in Georgia in the previous month. The National Bank publishes a "Comparison of payment service tariffs and deposit rates" with each bank's standard prices, updated by the banks themselves.
Deposit rates, bank by bank
| Bank | USD | GEL |
|---|---|---|
| Halyk Bank | 4% | 10% |
| Ziraat Bank | 4% | 8% |
| Isbank | 3.6% | 9.8% |
| Cartu Bank | 3.25% | 9.7% |
| Terabank | 2.80% | 10.70% |
| ProCredit Bank | 2.65% | 9.80% |
| Pasha Bank | 2.65% | 10.20% |
| Credo Bank | 2.20% | 10.05% |
| Basisbank | 2% | 9.61% |
| Liberty Bank | 2.00% | 9.60% |
| Silk Bank | 1.80% | 9.50% |
| Bank of Georgia | 1.50% | 9.25% |
| TBC Bank | 1.4% | 8.85% |
The largest banks pay the least, which is common where customers trust size. In February 2026 the market average on new term deposits was 9.14% in lari and 2.35% in foreign currency. Interest is paid at the end of the term, and early withdrawal is possible at a reduced rate. Terabank states that its rates for non-residents are set by individual agreement, so a published rate is a starting point, not an offer.
How deposit insurance works
- The limit. GEL 50,000 per depositor per bank since 1 April 2026, up from GEL 30,000.
- Who is covered. Resident and non-resident individuals and companies, with the same terms for deposits in any currency.
- How it is paid. In lari, at the National Bank's official rate on the date of the insured event, within 20 calendar days.
- One limit per bank. All your accounts at one bank are added together under the single limit.
- Exclusions. Among others, the bank's own administrators and shareholders with 5% or more, and their family members.
For a buyer the arithmetic is simple: GEL 50,000 is about USD 19,000 at October 2026 rates, far less than a purchase price. Money that waits in a Georgian account for weeks before a purchase is protected only up to that amount in each bank. Some banks' own pages still showed the old GEL 30,000 limit in October 2026.
Can you open remotely?
Most banks still expect a non-resident to appear in person at least once. TBC Bank lets a foreigner start in its app with a passport and phone number, then finish at a branch or, for some applicants, by video. ProCredit's online identification needs a Georgian identity document, and Terabank's remote registration is described for Georgian citizens living abroad. Credo runs expat service centres where a newcomer can open an account and order a card, and Liberty Bank directs non-residents to recommended branches. Consultants offer opening through a representative with a power of attorney, but whether a bank accepts that is its own decision.
Neither of the two largest banks' apps is available in Russian, according to their app store listings: TBC's app is in English and Georgian, and Bank of Georgia's in English, Armenian, Azerbaijani, Georgian and Turkish.
Services that matter for a purchase
- Escrow. Under current rules only a commercial bank can act as an escrow agent. Terabank's escrow costs 0.2% with a minimum of GEL 100 and is open to residents and non-residents; Cartu Bank offers a lari escrow account for real estate deals for up to 6 months, at 0.2% to 1% with a minimum of GEL 100; TBC Bank describes an escrow service without a published fee.
- Mortgages. TBC's published mortgage terms mention participation from 15% for Georgian or foreign citizens and a simplified expat mortgage from GEL 30,000 to GEL 600,000 with 20% down; Bank of Georgia publishes a mortgage for Georgians living abroad. In December 2025 banks issued about 220 foreign-currency mortgages to non-residents. Foreign citizens are outside the National Bank's requirement to lend amounts of up to GEL 1,000,000 in lari.
- Multi-currency accounts. Standard at the larger banks, which matters if the price is in dollars and local costs are in lari.
Our guide to mortgages for foreigners covers the lending rules in detail.
Which bank suits which buyer
| Situation | What to look for |
|---|---|
| One purchase, paid from abroad | Low non-resident fees, a dollar account, escrow if the seller agrees |
| Letting the flat for years | A bank you can manage from abroad, low monthly cost, an app in a language you read |
| Moving to Georgia | A branch near home, cards, salary and utility payments, and later a mortgage |
| Keeping savings in Georgia | Deposit rate weighed against size and ratings, with no more than GEL 50,000 per bank insured |
| Borrowing | A bank that publishes terms for foreign citizens and lends in your income's currency |
To be added by the team: our accountant to confirm Bank of Georgia's and Credo Bank's current non-resident tariffs and the size of Credo's cross-border fee, and to check the banks' latest Moody's outlooks.
Choosing a bank, step by step
Ask about your passport
Ask in writing whether the bank opens accounts for citizens and residents of your country.
Get the non-resident tariff
Request the tariff for non-residents, not the general price list.
Check the purchase services
Ask about escrow, transfer limits and the documents needed to pay a developer.
Plan the visit
Book a branch visit or video session and bring your passport and source-of-funds papers.
Keep balances sensible
Hold large sums in Georgia only as long as the purchase needs, bearing the GEL 50,000 limit in mind.
Risks and exceptions
- Refusal. A bank can decline a non-resident without giving reasons.
- Fees that grow. Inactivity and cross-border charges add up over years.
- Insurance cap. Only GEL 50,000 per bank is insured.
- Changing terms. Tariffs and policies change without notice to non-customers.
- Sanctions. Avoid banks under international sanctions.
Frequently asked questions
What is the best bank in Georgia for foreigners?
It depends on your passport, the fees for non-residents and the services you need; compare at least two banks.
Are deposits in Georgian banks insured?
Yes, up to GEL 50,000 per person per bank since 1 April 2026, including for non-residents.
Which bank pays the highest interest on dollars?
Halyk and Ziraat showed 4% for 12 months in the National Bank's table in October 2026.
Can I open an account without visiting Georgia?
Rarely; most banks need at least one visit or a video session.
How much does a non-resident account cost?
From free to about GEL 50 to open and GEL 1 to GEL 15 a month, depending on the bank and package.
Do Georgian banks offer escrow?
Yes; Terabank charges 0.2% with a minimum of GEL 100, and Cartu Bank and TBC Bank also offer it.
Are TBC and Bank of Georgia safe?
They are the two largest banks, rated BB by Fitch, the same as Georgia.
Can a foreigner get a dollar mortgage?
Yes, subject to the bank's own policy, because the lari requirement exempts non-citizens.
Sources
- Licensed commercial banks, National Bank of Georgia (accessed 19 October 2026)
- Comparison of payment service tariffs and deposit rates, National Bank of Georgia (accessed 19 October 2026)
- Effective interest rate on deposits, National Bank of Georgia (accessed 19 October 2026)
- Average deposit rates, February 2026 (NBG data), GBC, 26 March 2026 (accessed 19 October 2026)
- Deposit Insurance Agency annual report to the committee, Parliament of Georgia, 27 April 2026 (accessed 19 October 2026)
- Frequently asked questions, Deposit Insurance Agency of Georgia (accessed 19 October 2026)
- Basisbank completes acquisition of Liberty Bank, Basisbank, April 2026 (accessed 19 October 2026)
- Basisbank Group financial statements, first half of 2026, Basisbank (accessed 19 October 2026)
- Credit ratings, TBC Bank Group PLC (accessed 19 October 2026)
- Credit ratings, Lion Finance Group PLC (accessed 19 October 2026)
- Moody's outlook on Georgia's banking system, National Bank of Georgia, 26 February 2026 (accessed 19 October 2026)
- 45.4% of retail deposits are placed in Bank of Georgia, GBC, February 2025 (accessed 19 October 2026)
- Application fee for non-resident individuals, TBC Bank (accessed 19 October 2026)
- For expats, TBC Bank (accessed 19 October 2026)
- Service packages and rates, Basisbank (accessed 19 October 2026)
- Rates for individuals, Halyk Bank Georgia (accessed 19 October 2026)
- Service fees, Terabank (accessed 19 October 2026)
- Escrow service, Terabank (accessed 19 October 2026)
- Current account, Credo Bank (accessed 19 October 2026)
- Price list for individuals, ProCredit Bank Georgia, 10 March 2025 (accessed 19 October 2026)
- Online identification, ProCredit Bank Georgia (accessed 19 October 2026)
- Banking services for non-residents, Liberty Bank (accessed 19 October 2026)
- Escrow account, Cartu Bank (accessed 19 October 2026)
- Regulatory sandbox for escrow services, National Bank of Georgia, 12 January 2024 (accessed 19 October 2026)
- Simplified mortgage for expats, TBC Bank (accessed 19 October 2026)
- Mortgage issuances to non-residents have increased (NBG data), GBC, 6 February 2026 (accessed 19 October 2026)
- Order No 131/04 on loans up to GEL 1,000,000, National Bank of Georgia, 15 June 2026 (accessed 19 October 2026)
- Georgia banks (including Bank of Georgia SOLO non-resident prices), private.law (accessed 19 October 2026)
- VTB Bank Georgia under sanctions, Civil Georgia, 2022 (accessed 19 October 2026)
Change log
- - Comparison published from bank tariffs, the National Bank's tariff and deposit-rate tables and bank list, the Deposit Insurance Agency and bank financial reports.