Children's deposit

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

¹ Two years after the signing of the agreement and every next year the deposit interest rate will be reviewed, based on the interest rate of a Classical deposit in relevant currency for a term of 366 days effective as of the revision date. Payment of deposit interest or interest capitalization will be performed on a monthly basis.

You can add money to your deposit amount starting from AMD 40,000 or USD 100. The total of all your additions made within 1 (One) month cannot exceed AMD 5,000,000 or USD 10,000 (in case of exceeding the mentioned amounts the bank's relevant decision is required). During the last 3 months of validity of the deposit agreement you cannot increase your deposit amount.

The deposit amount cannot be partially reduced.

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 interest accrued on the deposit amount:

• Maestro payment card – in case of placing a deposit of up to AMD 10 million, USD 20,000;
• MasterCard Gold payment card – in case of placing a deposit equaling or exceeding AMD 10 million, USD 20,000;