Plan your future and save with confidence

  • Free account opening and maintenance1
  • Possibility to choose the currency
    Term deposits are available in Armenian drams (AMD), US dollars or Euros.
  • Maturity options
    Interest is paid on upon deposit maturity and you can choose applicable maturity option best fitting your needs.
  • Minimum amount requirements
    For deposits in Armenian drams minimum amount is AMD 100,000, for deposits in US dollars or euros 
    the minimum amount is 500 USD/EUR.
  • Opening term deposit via online banking
    You can open term deposit via online banking, if you are subscribed to the service.
  • Interest Rate

    Interest rate varies depending on term and the currency of the deposit. Please view our Term Deposit1 rates for more details.

    The interests can be paid in any currency based on instruction provided by customer. 

  • Statements
    The bank will provide customers with statements for their deposit accounts in the manner and terms stipulated by the RA legislation. The statements can be delivered to the customer's postal address, sent via email or collected from any branch of the bank. You can familiarise yourself with the conditions, terms and fees for provision of statements, copies of statements or other information by referring to Tariff of Charges and Terms and conditions.
  • Premature withdrawal of term deposit
    In case of any premature withdrawal of term deposit at the request of customer, 1% of accrued interest will be paid.
  • Term Deposit account closure fee
    Term Deposit account closure fee is not applicable.
  • Guaranteed deposits
    Deposit Guarantee Fund of Armenia in accordance with the RA Law on Guarantee of Compensation for the Banking Deposits of Physical Persons guarantees all deposits in accordance with the applied terms and conditions

1 Term deposit account can be opened, only if savings/current/minor account already exists. You can familiarize yourself with the list of required documents for account opening, as well as account opening and closing procedures on respective accounts pages.

Third parties can open term deposits accounts for minors only. In order to serve Term Deposit, Minor account should be opened as well. 

Annual interest rates for Term Deposits2

  1 Month
3 Months
6 Months
9 Months
12 Months
18 Months
24 Months
36 Months
AMD
3.00%
4.00%
5.00%
6.00%
7.00%
7.00%
7.50%
7.50%
USD
0.25%
0.50%
1.00%
1.25%
1.50%
1.50%
1.50%
1.50%
EUR
0.10%
0.25%
0.25%
0.25%
0.25%
     

Annual interest rates for Term Deposits2

  AMD
1 Month
3.00%
3 Months
4.00%
6 Months
5.00%
9 Months
6.00%
12 Months
7.00%
18 Months
7.00%
24 Months
7.50%
36 Months
7.50%
  USD
1 Month
0.25%
3 Months
0.50%
6 Months
1.00%
9 Months
1.25%
12 Months
1.50%
18 Months
1.50%
24 Months
1.50%
36 Months
1.50%
  EUR
1 Month
0.10%
3 Months
0.25%
6 Months
0.25%
9 Months
0.25%
12 Months
0.25%
18 Months
 
24 Months
 
36 Months
 

The interest rates on deposits exceeding AMD 250 million or, in case of foreign currency 500 thousand units of the relevant currency, are set on contractual basis in accordance with the General Terms and Conditions.

THE ABOVE RATES ARE NOMINAL AND INTEREST INCOME RECEIVED FROM TERM DEPOSITS ARE SUBJECT TO TAXATION IN ACCORDANCE WITH RA LEGISLATION.

Term deposit interest calculation is done on daily basis on total deposit balance for the entire deposit term. Daily interest rate is equal to 1/365 of applicable interest rate for the deposit type and term (for leap year 1/366 ratio is applied).

Annual Percentage Yield for Term Deposits



TERM DEPOSIT INTEREST AMOUNT IS BEING CALCULATED BASED ON THE ANNUAL NOMINAL INTEREST RATE, WHEREAS  ANNUAL PERCENTAGE YIELD (APY) INDICATES HOW MUCH WILL BE THE ANNUAL PERCENTAGE YIELD OF YOUR TERM DEPOSIT, IN CASE OF ADDITION OF THE RECEIVED INTEREST TO THE PRINCIPAL AMOUNT.

 

Annual percentage yield, where interest amount is paid at the end of the period

  1 Month
3 Months
6 Months
9 Months
12 Months
18 Months
24 Months
36 Months
AMD
3.04%
4.07%
5.06%
6.04%
7.00%
6.88%
7.24%
7.00%
USD 0.25%   
0.50% 1.00% 1.25% 1.50%   1.49% 1.49% 1.48%
EUR  
0.10% 
0.25%
 0.25% 
0.25%
 0.25%
     

Annual Percentage Yield for Term Deposits



TERM DEPOSIT INTEREST AMOUNT IS BEING CALCULATED BASED ON THE ANNUAL NOMINAL INTEREST RATE, WHEREAS  ANNUAL PERCENTAGE YIELD (APY) INDICATES HOW MUCH WILL BE THE ANNUAL PERCENTAGE YIELD OF YOUR TERM DEPOSIT, IN CASE OF ADDITION OF THE RECEIVED INTEREST TO THE PRINCIPAL AMOUNT.

 

Annual percentage yield, where interest amount is paid at the end of the period

  AMD
1 Month
3.04%
3 Months
4.07%
6 Months
5.06%
9 Months
6.04%
12 Months
7.00%
18 Months
6.88%
24 Months
7.24%
36 Months
7.00%
  USD
1 Month
0.25%   
3 Months
0.50%
6 Months
1.00%
9 Months
1.25%
12 Months
1.50%  
18 Months
1.49%
24 Months
1.49%
36 Months
1.48%
  EUR  
1 Month
0.10% 
3 Months
0.25%
6 Months
 0.25% 
9 Months
0.25%
12 Months
 0.25%
18 Months
 
24 Months
 
36 Months
 

The annual percentage yield is being calculated based on the formula below

Where:

A - is the initial deposit amount.

n - is the consecutive number of the Term deposit related monetary flows.

N - is the last number of the Term deposit related monetary flows (including the monetary flow at the moment the Term deposit started), after which the Term deposit agreement term is being considered as expired.

Kn - the flows of the Term deposit invested at the moment of Term 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 Term deposit has been opened till the Term deposit related monetary flows are being done, including the consecutive n-th one. In case the monetary flows are at the moment of Term deposit opening, D1=0.

2Term deposit interest rates in AMD are effective from 29 May, 2018

Term deposit interest rates in USD are effective from 01 April, 2018

Term deposit interest rates in EUR are effective from 20 October, 2015

Representative example of premature withdrawal  

Representative example of interest amount calculation in case of premature withdrawal of term deposit at the request of customer after one month of opening the term deposit:

Initial deposit amount
AMD 1,000,000
Deposit term
12 months
Annual nominal interest rate
7%
Days in a year
365
Deposit opening date
01.03.2018
Deposit maturity date
01.03.2019

Representative example of premature withdrawal  

Representative example of interest amount calculation in case of premature withdrawal of term deposit at the request of customer after one month of opening the term deposit:

Initial deposit amount
Deposit term
AMD 1,000,000
12 months
Initial deposit amount
Annual nominal interest rate
AMD 1,000,000
7%
Initial deposit amount
Days in a year
AMD 1,000,000
365
Initial deposit amount
Deposit opening date
AMD 1,000,000
01.03.2018
Initial deposit amount
Deposit maturity date
AMD 1,000,000
01.03.2019

Calculated interest for one month = 5,753.42

One hundredth of calculated interest = 5,753.42/100 = 57.53

10% tax from interest income = 57.53 x 10% = 5.75

Paid net interest = 57.53 - 5.75 = 51.78

Things you should know

Important notice

A customer’s right to manage their bank account and the funds available on it can be restricted due to decisions issued by the Judicial Acts Compulsory Enforcement Service or tax authorities based on court verdict. The customer may be informed about this after the bank has executed the decision on hold.

Levy of monetary funds without order of the customer can be executed on decisions issued by Judicial Acts Compulsory Enforcement Service and tax authorities based on court verdict. The customer may be informed about this after the bank has executed the decision on levy of funds from the customer’s account.

Last updated on: 2/12/2019 12:08:07