Interest Rates: HSBC Bank Armenia

Interest Rates

Cumulative Term Deposits Nominal Interest Rates

Currency	Minimum Initial Deposit	Bank Base Rate (BR)	12 – 36 months	37 – 60 months	61 – 120 months	121 – 240 months	241 – 360 months	more than 360 months
AMD	100,000	10.5%*	BR - 1%	BR - 0.5%	BR - 0.25%	BR - 0%	BR + 0.25%	BR + 0.5%
AMD	100,000	10.5%*	9.50%	10%	10.25%	10.5%	10.75%	11%
USD	500	8.75%**	BR - 4.75%	BR - 3.75%	BR - 2.75%	BR - 2.25%	BR - 2%	BR - 1.75%
USD	500	8.75%**	4%	5%	6%	6.5%	6.75%	7%
EUR	500	7.00%***	BR - 6%	BR - 5%	BR - 4%	BR - 3.5%	BR - 3.25%	BR - 3%
EUR	500	7.00%***	1%	2%	3%	3.5%	3.75%	4%

* effective from 01/05/2009
** effective from 10/11/2008
*** effective from 22/05/2009

Cumulative Term Deposits Annual Percentage Yield

Currency	Interest amount payment / compounding periodicity	Deposit Total Term
Currency	Interest amount payment / compounding periodicity	12 – 36 months	37 – 60 months	61 – 120 months	121 – 240 months	241 – 360 months	more than 360 months
AMD	Monthly	9.92%	10.46%	10.74%	11.01%	11.29%	11.56%
AMD	Quarterly	9.84%	10.37%	10.65%	10.91%	11.18%	11.45%
USD	Monthly	4.07%	5.11%	6.16%	6.69%	6.96%	7.22%
USD	Quarterly	4.06%	5.09%	6.13%	6.66%	6.92%	7.18%
EUR	Monthly	1.0%	2.02%	3.04%	3.55%	3.81%	4.07%
EUR	Quarterly	1.0%	2.01%	3.03%	3.54%	3.80%	4.06%

Interest on the cumulative deposits is calculated based on the nominal interest rate. The Annual Percentage Yield shows how much income you would receive if you reinvest the interest received into deposit.

Interest income received from cumulative deposit is subject to taxation in accordance with RA legislation.

The interests on the amounts available on your account are being calculated based on the nominal rate, and the annual percentage yield indicates what would be your income in case the interests of your time deposit are reinvested in a new time deposit. The annual percentage yield is being calculated based on the formula below:

time deposit formula

where:

A – is the initial deposit amount.
n – is the consecutive number of the time deposit related monetary flows.
N – is the last number of the time deposit related monetary flows (including the monetary flow at the moment the time deposit started), after which the time deposit agreement term is being considered as expired.
Kn – the flows of the time deposit invested at the moment of time deposit opening and/or during the operation of it, as well as the flows of the capitalized interests, and, if available, of the mandatory fees.
Dn – is the number that indicates how many days are passed from the moment the time deposit has been opened till the time deposit related monetary flows are being done, including the consecutive n-th one. In case the monetary flows are at the moment of time deposit opening, D1 = 0.