Deposits Tariffs

1. The Bank accepts deposits from individuals, provided the deposits are placed in favor of children, for a period starting from 2 years until the child reaches the age of 18.
2. Both legal representatives of the children (parents, guardians) and third parties may act as depositors.
3. Interest payment or capitalization will be carried on an annual basis.
4. The deposit can be replenished (increased) starting from a minimum of AMD 40,000 or USD 100. If the total amount increased within one month exceeds AMD 5,000,000 or USD 10,000, a decision by the Bank's Management Board is required. Increasing the deposit amount is not permitted during the final 3 (three) months before the deposit agreement expires.
5. Fixed-term deposits opened in favor of children are managed by their legal representatives or, in cases provided by law, by third parties until the child reaches the age of 18.
6. In the event of termination of the deposit agreement within 2 years from the date of its conclusion, the deposit interest will be recalculated at an annual interest rate of 0.5% for dram-denominated deposits and 0.1% for dollar-denominated deposits.

After 2 years, the interest accrued up to the last capitalization (payment) will be retained, and for the period after capitalization (payment), the interest will be recalculated at an annual interest rate of 0.5% for dram-denominated deposits and 0.1% for dollar-denominated deposits.

7. Upon expiration of 2 years from the date of conclusion of the agreement and each subsequent year, the Deposit interest rate will be revised based on the interest rate for a 366-day Classic Deposit in the relevant currency.
8. Partial withdrawal of the deposit is not allowed.

Additional Provisions

1. At the request of the depositor – an RA citizen, the Bank may issue a debit card without charging an annual service fee.
2. The types of debit cards issued according to deposit amounts, are listed below:

• Upon the customer’s request, cards will be provided in the currency supported by the specific card product.
• Upon the customer’s request, a card of the same class (other than Infinite card) may be issued to their family members (parents, spouse, adult children) at a 50% discount.
• For a single deposit, one free card will be issued in the depositor's name. If the depositor places more than one deposit, each deposit will be considered a separate one.
• In the event of expiration of the deposit term or early termination by the depositor of the Deposit Agreement, the servicing of the debit card issued for placement of the Deposit (except Visa Infinite debit cards) shall continue without charging an annual servicing fee until the expiry of the card's validity period.
• In the event of early termination of the Deposit agreement by Visa Infinite cardholders or expiration of the Deposit term, the Bank has the right to also close the Visa Infinite debit card issued for the Deposit or, at the customer’s request, apply the fees and rates currently applicable by the Bank.
• The class of the card to be issued will be determined by the amount of the deposit at the time of the card opening. If the deposit amount is increased and the customer wishes to get a higher-class card, the existing card must be closed and a new higher-class card issued.
• Card replacement  upon its expiration or for any other reasons will be carried out:
• Free of charge provided the deposit is active or, at the time of its replacement the customer has another deposit placed with the Bank with an appropriate limit for which a free card has not been previously issued;
• Based on the Bank's current service fees if the deposit term has expired and not been extended.
• Other fees and terms of card service – in accordance with the Bank's fees and terms of delivery of services.

Annual percentage yield of deposits

The annual percentage yields as per deposit types, calculated according to the procedure set by the RA Central Bank, are listed below:

NIR - nominal interest rate
APY - annual percentage yield