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Term Deposit Important Information

  • Term deposit is available for HSBC Bank Armenia customers only.
  • Term deposit account is opened free of charge and is not subject to any service charges for the whole duration of the deposit term.
  • The Term deposit account is opened and replenished with the amount of the deposit at the moment of signing the agreement, in case of opening via Internet Banking service, at the moment of confirmation of the instruction.
  • The interest rate approved at the moment of placement of the deposit shall remain unchanged during the entire period of the deposit agreement.
  • The Term Deposits placed by individuals are subject to repayment at the first request of the depositor.
  • Customer cannot deposit additional funds to already opened deposit during the deposit period.
  • There is no compounding option for the interest accrued for Term deposit.
  • Partial or full withdrawal of the Term deposit amount will be considered as a premature deposit withdrawal.
  • The Bank may charge fees for statement delivery, as well as for provision of copies of statements and other customer related information in accordance with the Bank’s tariff of charges available in “Tariff of charges for individuals and sole entrepreneurs” booklet or on Bank’s website with this link.
  • Interest against the Term Deposits with foreign currency can be paid either with the currency of the deposit or in Armenian Drams as per customer’s preference and based on the provided respective instruction.
  • Term deposit can be opened by third party for Minor customers (customer maximum age is 18) and only in case of Minor account at HSBC Bank Armenia.

 

Last updated on: 14.12.20, 11:30