Time deposit

Earn interest on cash reserves while keeping funds available for your business.

We offer term deposits in Armenian drams (AMD), US dollars or Euros.

Time deposit account opening fee1 Free
Time deposit minimum amount AMD 4.000.000
USD 10.000
EUR 10.000

 

Time Deposit Rates

Annual rates (%) for deposits

Months
  1 3 6 9 12 18 24 36
AMD 3.00 4.00 5.00 6.00 7.00 7.00 Negotiable Negotiable
USD 0.25 0.50 1.00 1.25 1.50 1.50 Negotiable Negotiable
EUR 0.10 0.25 0.25 0.25 0.25 Negotiable Negotiable Negotiable

 

For annual percentage yield calculation please click here.

1 Time Deposit account is opened only if a current account in AMD and/or in Deposit's currency is available.

Notes

  • Term Deposit account closure fee is not applicable.
  • Interest is paid on upon deposit maturity or on monthly basis during deposit term.
  • A premature withdrawal of the Deposit may be made only at the consent of the Bank.
  • In case of early termination of the Term Deposit agreement at the demand of the Customer or due to other reason beyond the control of the Bank the interest payable to the customer shall be calculated as follows:
  • In case of Standard Time deposit at one hundredth portion of the Term Deposit interest.
  • In case of Term deposit with interim interest repayment
    • Where the Term Deposit is withdrawn earlier than after one month, the interest payable to the Customer shall be calculated at one hundredth portion of the Term Deposit interest,
    • Where the Term Deposit is withdrawn after one month, the interest payable to the Customer shall be calculated at the rate applicable to one-month deposits effective at the moment of such withdrawal. The difference between paid interest and recalculated interest is subject to deduction from the principle amount of term deposit.
  • With the Term Deposit Agreement Customer instructs to renew the deposit at the Bank's prevailing interest rate as of the date of maturity for the specified period or credit/transfer the principal to the customer’s account.
  • The Bank cannot unilaterally reduce the interest size for those deposits, which determined by the contract, has been put for a specified time period or by the condition to get them back after occurrence of circumstances specified by the contract, unless otherwise provided by law.

Call us on:

+374 (60) 655 200

open hours 09:00-18:00

+374 (60) 655 000

Our phone lines are open 24/7

Last updated on: 19/01/22 7:55 UTC

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