Classical DepositHigh interest yielding Classical deposit will increase your savings. Classical deposit is accepted both from physical individuals and legal entities. As a depositor of the Bank you will also receive an international card totally free of charge.
- We accept term deposits from individuals (including sole proprietors) and legal entities (RA residents and non-residents):
- In AMD, USD, EUR and RUB,
- In cash and non-cash manner.
- Deposits will be accepted according to the terms and conditions approved by the bank;
- When accepting and withdrawing deposits we will be governed by RA legislation, decisions of the RA Central Bank and other regulations;
- In line with the legislative acts, we ensure the confidentiality of deposit placement and other transactions associated with it. Provision of information to third parties will be executed exclusively in cases and under the procedure stipulated in RA law On Bank Secrecy.
Attention: Terms of special deposit offers regularly made by the bank differ from the general terms of accepting deposits in our system and will be applied only to the deposits accepted under the officially published special deposit offer.
Procedure of Calculation and Payment of Interest on Deposits
- Interest will be calculated daily on actual deposit balance, using a straightforward method, for the entire period of deposit agreement. The interest rate for each day in a year will be calculated as a ratio of 1/365, for leap year - 1/366.
- Interest rate will be accrued starting the next day of depositing your funds until the last but one day of deposit withdrawal.
- Interest accrued will be paid in cash and non-cash manner: in the currency of placement of funds or in Armenian drams based on the bank’s non-cash FX buying rate set as of the payment day.
- At your choice, interest amount will be paid by using the following options:
- Regular payment of interest, under which the interest accrued on the deposit will be paid to you according to mutually agreed schedule, or
- Interest payment at the end of the deposit tenure, under which the interest accrued on the deposit will be paid at the end of the deposit agreement (interest will be paid together with deposit principal amount).
- Interest accrued on your funds shall be computed based on NOMINAL interest rate while ANNUAL INTEREST YIELD will show the income you would have gained in case of re-depositing the accrued interest into your deposit account. The procedure of computation of annual interest rate (Regulation 8-02) can be found on the website: www.cba.am.
Provision of Information on Deposit Account
- During the tenure of deposit agreement we shall provide you once every 30 days with a relevant deposit account statement.
- Statements shall be in written form delivered to you by post service, except for cases when you have refused in writing, including electronically, to receive account statement via post service preferring to get them electronically or by means of other communication techniques or obtain them in person in the bank premises. The method of delivery of account statements will be documented in the Deposit Agreement.
- For provision of account statement duplicates or other information (account reference) the bank will charge a fee according to the bank tariffs specified in Current Accounts section.
- If you fail to claim the payment of a term deposit amount upon the expiration of the deposit agreement or after the emergence of the circumstances stipulated therein, the deposit agreement will be deemed extended under the terms of demand deposit unless otherwise stipulated in the agreement.
- We cannot unilaterally reduce the interest rate payable on the funds you have placed with the bank under the terms of returning it after the expiry of the deposit tenure or upon emergence of the circumstances stipulated in the agreement, unless otherwise provided in the law.
- You can place a deposit in favor of a third person in the manner set by RA legislation.
Terms and Conditions of Accepting Deposits
|Deposit amount||Annual interest rate
(interest to be paid at the end of deposit agreement*)
|91-180 day||181-365 day||366-545 day||546-730 day||731-1095 day|
|AMD 200,000 - 25,000,000||6%||8%||9,5%||10%||10,5%|
|USD 500 - 50,000||2%||3%||4%||4,5%||5%|
|EURO 500 - 40,000||1%||1,5%||2%||2,5%||3%|
|RUB 30,000 - 3,000,000||5%||5.5%||6%||-||-|
|For deposits exceeding AMD 25 million, USD 50,000, EUR 40,000 or RUB 3,000,000||To be specified in deposit agreement|
* In case interest is payable on a regular basis (monthly, quarterly, semiannually, annually) the interest rates indicated in this table will be cut by 0.5%.
You can add money to your deposit amount starting from AMD 200,000, USD 500, EUR 500 or RUB 30,000. In case of placing a deposit with an opportunity of adding money to it, the applicable interest rate will be less by 0.5% than the rate indicated in the above table. The total of all your additions cannot exceed the initially deposited amount. During the last 3 months of validity of the deposit agreement you cannot increase your deposit amount.
The deposit amount cannot be partially reduced.
In the event of early withdrawal of deposit amount, the interest accrued on the deposit amount shall be re-calculated:
|Deposit amount||Annual interest rate|
|up to 365 day||366 - 1095 day|
When placing a deposit with the bank, you will be provided with a free payment card without annual service fee, and if wished, it may be reloaded with the accrued interest:
- Maestro payment card – in case of placing a deposit of up to AMD 5,000,000, USD 10,000, EUR 10,000 or RUB 600,000.
- MasterCard Standard or Visa Classic payment card - in case of placing a deposit equaling AMD 5,000,001 - 25,000,000, USD 10,001-50,000, EUR 10,001- 40.000 or RUB 600,001 - 3,000,000.
- MasterCard Gold or Visa Gold payment card – in case of placing a deposit equaling AMD 25,000,001-50.000.000, USD 50,001-100.000, EUR 40,001-100.000 or RUB 3,000,001-7.000.000.
Visa Infinite payment card – in case of placing a deposit equaling or exceeding AMD 50,000,001, USD 100,001, EUR 100,001 or RUB 7,000,001.
Scheme of placing and returning deposits in Russian rubles:
- Cash or non-cash funds denominated in Russian rubles will be returned in the manner of their initial placement (in cash and non-cash manner respectively), no fees will be charged for it;
- In case a non-cash deposit in rubles is returned in cash, the bank will charge a fee for cashing out rubles according to the rate set as of the deposit withdrawal date;
- In case a cash deposit in rubles is returned in non-cash manner, the bank will charge a cash entry fee set as of the deposit withdrawal date.
- Contractual relations between the bank and customers are regulated by TERMS AND CONDITIONS OF COMPLEX BANKING SERVICES, which are a public offering and considered as accepted once a duly filled out and signed bank service application is submitted by the customer personally or online. Terms and Conditions of Complex Banking Services can be found here.
- Under the RA law On Withholding Tax, the interest paid by the bank to an individual depositor (resident and non-resident) will be subject to taxation at 10% of the gained income.
- No other fees will be charged when signing a deposit agreement and during its validity. In case of withdrawing a cash deposit placed in non-cash manner, you will be charged with a cash withdrawal fee according to our tariffs of Cash Operations.
- Information on annual interest yield can be found in section Procedure of Calculation and Payment of Interest on Deposits.
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