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Corporate Current and Deposit Accounts
The Corporate account1 opening procedure is very straightforward.
The corporate account will be activated shortly after all the necessary documentation has been presented.
The statistics of the corporate account turnover and average balance is an important factor for building a future commercial banking relationship and receiving various products and services offered by our bank.
HSBC Bank Armenia applies individual approach to the account holders and may provide individual preferential tariffs in view of developing further relationship with the customers. The preferential tariffs provided to the account holders may also cover outward and inward remittances, cash withdrawals charges, foreign currency exchange transactions.
We also provide a comprehensive range of services to the employees of our commercial banking customers. By opening payroll accounts with HSBC Bank Armenia the company can provide a wide range of benefits for its employees (credit cards, consumer finance, and other services).
| Account opening fee | |
| Current account | AMD 5,000 |
| Time deposit (including cumulative) account 2 | Free |
| Additional account opening | |
| Current account | AMD 3,000 |
Monthly maintenance fee
Irrespective of the fact whether the customer uses the account or not, monthly maintenance fee of AMD 5003 will be applied to each current account.
Minimum deposit
| Current account | Not required |
| Time deposit (including cumulative) account | AMD 100,000 USD 500 EUR 500 |
Time Deposit Rates
Annual rates (%) for deposits
| Months | ||||||||||
| 1 | 3 | 6 | 9 | 12 | 15 | 18 | 24 | 36 | ||
| AMD | 4.50 | 6.00 | 7.00 | 8.00 | 9.00 | 9.00 | 9.00 | 9.00 | 9.00 | |
| USD | 1.00 | 1.50 | 2.50 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | |
| EURO | 0.10 | 0.25 | 0.25 | 0.25 | 0.25 | |||||
| Months | ||||||||||||
| 1 | 3 | 6 | 9 | 12 | 15 | 18 | 24 | 36 | ||||
| Annual percentage yield, where interest amount is paid at the end of the period | ||||||||||||
| AMD | 4.59 | 6.14 | 7.12 | 8.08 | 9.00 | 8.90 | 8.81 | 8.63 | 8.29 | |||
| USD | 1.00 | 1.51 | 2.52 | 3.01 | 3.00 | 2.99 | 2.98 | 2.96 | 2.91 | |||
| EURO | 0.10 | 0.25 | 0.25 | 0.25 | 0.25 | |||||||
| Annual percentage yield, with interim (monthly) interest amount payment | ||||||||||||
| AMD | 6.17 | 7.23 | 8.30 | 9.38 | 9.38 | 9.38 | 9.38 | 9.38 | ||||
| USD | 1.51 | 2.53 | 3.04 | 3.04 | 3.04 | 3.04 | 3.04 | 3.04 | ||||
| EURO | 0.25 | 0.25 | 0.25 | 0.25 | ||||||||
The above rates are annual. AMD Time Deposit interest rates are effective from 25/02/09, US dollar rates from 07/09/2009 and Euro rates from 11/01/2010.
1 Current accounts can be opened in the following currencies: AMD, USD, EUR, GBP, RUB, JPY, CNY.
2 Time deposit account can be opened, only if AMD current account already exists.
3 If the charge is being deducted from the foreign currency account, the transaction will be conducted at the buying rate defined by the Bank for the respective currency.
