Important Information

1. Interest is calculated daily on actual deposit balance, the daily interest rate of the placed deposit is calculated as a ratio of 1/365 of the defined interest rate, for leap year 1/366.
2. The interest is accrued since the deposit placement day till the day of the deposit return. The deposit placement day is considered the day of actual credit of the funds on the Deposit account opened on the name of the Depositor.
3. The accrued interest is paid in cash or non-cash manner. If the payment day is non-working, the payment is made on the following working day.
4. As per customer’s request interest accrued on the foreign currency deposits can be paid out in the both foreign currency in which the deposit was placed, as well as in AMD based on the non-cash purchase rate of the foreign currency defined by the Bank as of the date of the payment.
5. Interest paid to the customers (resident and non-resident) is subject to taxation in accordance with the RA Tax Code. Moreover, the Bank acting as a tax agent collects the corresponding income tax amount from the accrued interest that is subject to be paid to the Depositor.
6. In case of the early payment of the deposit amount by the request of the Depositor, The Bank makes recalculation of the interest. The accrued interest is paid at the current interest rate defined by the Bank for recalculation , and the paid interest is debited from the Deposit amount unless defined otherwise by the Bank for the given deposit type.

Attention!

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.

1. During the tenure of deposit agreement the Bank provides a relevant deposit account statement via the communication channel preferred by Depositor once every 30 days.
2. For provision of statements, statement duplicates or other information as per Depositor’s request, the Bank charges a fee according to the Bank tariffs.

1. The deposit reimbursement and the compensation amount are guaranteed by RA law on Guarantee of Compensation for the Banking Deposits of Physical Persons. The guaranteed limits are:  

2. Customer’s all AMD denominated deposits with the same bank are considered one deposit; similarly, all FX-denominated deposits are deemed as one deposit.

1. If the depositor is a citizen of the Republic of Armenia, the Bank can provide a payment card without charging an annual service fee.
2. The types of the suggested payment cards according to the amount of the placed deposit can be found below:

In case of expiration of the deposit or early termination of the Deposit Agreement by the depositor, the service of the payment card provided for the deposit shall continue to be serviced without charging the annual service fee until the expiration of the payment card, except for Visa Infinite payment cards. In case of early termination or expiration of the Deposit Agreement by Visa Infinite payment card holders, the Visa Infiite payment card provided for the Deposit is closed or, if the customer wants, operates in accordance with the current rates and rates of the Bank.

1. Interest rate is calculated based on the below formula:
I=(P x t/365 x r)-10% (Income tax)
Where:
I` interest rate
P` amount of the placed deposit
r` annual nominal interest rate
t` number of deposit placement days
2. Example of interest calculation :
Suppose a term deposit was placed with the following terms:
Amount of the placed deposit: AMD 1 000 000 (one million)
Deposit term: 1 year (365 days)
Annual nominal interest rate: 12 %
Interest payment: in the end of the term
Based on the above-mentioned formula and the deposit terms let’s calculate the annual interest amount:
I=(1 000 000 x 363*/365 x 0.12)-10%
Where:
I=AMD 107 408.22
*2 days deducted from the placed deposit days – the day of deposit placement and return.

8.1. In order to calculate the annual percentage yield for the Deposit the following formula is used stipulated by CB of RA Regulation 8/02 “Calculation of annual percentage yield on bank deposits” :
APY=(1+r/ո)n-1,
where: APY – annual percentage yield
r – annual simple interest rate
ո – frequency of interest capitalization during one year
8.2. Annual percentage yield calculation example with monthly regular interest capitalization:
Assume a term deposit has been placed with the following terms:
Deposit term: 1 year (365 days)
Annual interest rate: 12%
Frequency of interest capitalization: monthly- 12 times a year, at the end of each month
Based on the annual percentage yield calculation formula:
APY=(1+0.12/12)12-1
Where:
APY=0.126825x100=12.7%
8.3. Annual percentage yield calculation example with interest amount capitalization at the end of the agreement:
Assume a term deposit has been placed with the following terms:
Deposit term: 1 year (365 days)
Annual interest rate: 12%
Frequency of interest capitalization: at the end of the agreement
Td deposit terms, let’s calculate the annual percentage yield: `
APY=(1+0.12/1)11-1
Where:
APY=0.12x100=12%

Below please get acquainted with the annual percentage yield by types of the deposits, calculated in accordance with process defined by CB of RA:
NI- Nominal interest rate
APY- annual percentage yield

1. The deposit is accepted from physical individuals as well as legal entities.
2. In case of regular interest payment (monthly, quarterly, semi-annual, annual) for deposits in AMD an interest rate of 0.5% lower than the above-mentioned scale is defined, whereas for deposits in USD, EUR and RUB interest rate of 0.25% lower than the above-mentioned scale is defined.
3. The Depositor can replenish the deposit amount starting from minimum AMD 200,000, USD 500, EUR 500 and RUB 30,000.

In case of placing deposit in AMD with possibility to replenish the amount 0.5% lower interest rate than the above-mentioned scale is defined, whereas for deposits in USD, EUR and RUB interest rate of 0.25% lower than the above-mentioned scale is defined.  The sum of all the replenishments made cannot exceed the initial deposit placement amount. During the last 3 (three) months of the Deposit agreement no replenishment is allowed.

4. In case of early termination of the deposit agreement as per Depositor’s request, the Bank recalculates the interest according to the following rates:

5. Partial reduction of the deposit amount is not allowed.

Additional terms

1. As per Customer’s request, the Bank can provide payment card without annual service fee.
2. The types of the suggested payment cards according to the amount of the placed deposit can be found below: