Regular Term Deposit

Get the most out of your money

Secured growth of your money

Standard Term Deposit

Interest Payment Method
Upon deposit maturity

Available in
AMD
USD
EUR

Available in AMD USD EUR

Can be opened
via Internet Banking
Yes

 

Term Deposit with
Interim Interest Repayment

Interest Payment Method
Monthly interim

Available in
AMD
USD
EUR

Available in AMD USD EUR

Can be opened
via Internet Banking
Yes

 

Note: In case of discrepancies between the Armenian and English versions of this page, the Armenian version shall prevail.

Last updated on: 07/04/2016 15:00

 

 
 

Interest Receiving Instructions

For Time Deposit you can set one of the following interest receiving instructions:

  • Receive interim interests, ie monthly, quarterly or annually
  • Receive interest amount upon maturity

Reinvest - add accrued interest to the principal amount on a monthly, quarterly or annual basis and receive accumulated interest on maturity along with principal amount (Applies only for deposits in Armenian drams).

 
 

Maturity options

Renew deposit principal amount only
Upon maturity deposit principal amount will be renewed with interest rate and terms applicable as at the date of renewal.

Transfer deposit principal to other account
Upon maturity deposit principal amount will be transferred to another account (will not be renewed).

Note: In case if customer makes premature withdrawal of term deposit after minimum one month, then the interest amount paid to customer will be calculated with applicable interest rate for the given deposit type as at the date of withdrawal. The difference between the interest amount already paid to customer during the deposit term and interest accrued during 1 month will be deducted from deposit principal amount.
In case of any premature withdrawal of term deposit at the request of customer within 1 month after opening the deposit, 1% of accrued interest to date will be paid.

 
 

Maturity options

Renew deposit with principal amount and accrued interest
Upon maturity both principal amount and accrued interest will be deposited as a new term deposit with interest rate and terms applicable as at the date of renewal. This option is available only for AMD deposits.

Renew deposit principal amount only
Upon maturity deposit principal amount will be renewed with interest rate and terms applicable as at the date of renewal, interest amount will not be renewed.

Transfer deposit principal and interest amount to another account
Upon maturity transfer both deposit principal amount and accrued interest amount to another account.

Note: In case of any premature withdrawal of term deposit at the request of customer, 1% of accrued interest will be paid.

 
 

How will I receive the interest amount?

1. Upon maturity

2. On monthly basis

The interest amount will be credited on your AMD account either on monthly basis or upon maturity as mentioned in the term deposit agreement. You will be able to withdraw the money either by Your ATM card or at one of our branches.

 
 

What if I withdraw Time Deposit before maturity?

In case of any premature amendments in Time Deposit Agreement at the request of customer, 1% of accrued interest will be paid. If interest has already been paid, then corresponding deduction from principal amount will be done.

 
 

Can I add money to my Time Deposit?

No, you cannot replenish your deposited amount, but you can anytime open a new time deposit account.

 
 

Can I partially withdraw my Time Deposit?

It will be considered as premature deposit withdrawal.
But if you need only the part of your money we will be happy to open another Time Deposit with the amount you want to save.

 
 

Should I pay taxes for my Time Deposit?

According to RA law on Income any income of residents are taxable.
But there is no need to worry, as our bank is a tax agent and will make all the required payments to the tax authorities on your behalf.