Earn extra interest on your savings
Don’t miss out. Enjoy higher interest rates and more when you open a new term deposit account. Just deposit AMD 100,000 or more for at least 6 months by 27 November 2024.
Term deposit with interim interest repayment
Receive interest while you save
- Free account opening and maintenance1
- Possibility to choose the currencyTerm deposits are available in Armenian drams (AMD), US dollars or Euros.
- Maturity optionsInterest is paid on monthly basis during deposit term and you can choose applicable maturity option best fitting your needs.
- Minimum amount requirementsFor deposits in Armenian drams minimum amount is AMD 100,000, for deposits in euros or US dollars the minimum amount is 500 USD/EUR.
- Opening term deposit via Online BankingYou can open term deposit via online banking, if you are subscribed to the services.
- Interest Rate
Interest rate varies depending on term and the currency of the deposit. Please view our Term Deposit rates for more details.
The interest can be paid either in deposit currency, or in AMD.
- StatementsThe 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 premature withdrawal of term deposit at the request of customer after the first month, interest to be paid to the customer will be recalculated with the interest rate applied for term deposits with one month term. The difference between paid interest and recalculated interest is subject to deduction from the principle amount of term deposit.
In case of premature withdrawal of term deposit at the request of customer within the first month, 1% of accrued interest will be paid.
- Term Deposit account closure feeTerm Deposit account closure fee is not applicable.
- Guaranteed depositsDeposits are guaranteed by the "Deposit Guarantee Fund of Armenia" in accordance with the RA Law on Guarantee of Compensation for the Banking Deposits of Physical Persons.
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.
| 3 months | 6 months | 9 months | 12 months | 18 months | 24 months | 36 months | |
|---|---|---|---|---|---|---|---|
| AMD |
4.00% |
5.00% |
6.00% |
7.00% |
7.00% |
7.50% |
7.50% |
| USD |
1.00% |
1.50% |
2.00% |
2.50% |
2.50% |
2.75% |
2.75% |
| EUR | 0.50% | 1.00% | 1.25% | 1.50% | 1.50% | 1.50% | 1.75% |
|
AMD |
|
| 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 |
|
| 3 months |
1.00% |
| 6 months |
1.50% |
| 9 months |
2.00% |
| 12 months |
2.50% |
| 18 months |
2.50% |
| 24 months |
2.75% |
| 36 months |
2.75% |
| EUR | |
| 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 | 1.75% |
Interest rate for PLUS and STATUS customers: +0.5% for deposits in AMD and +0.25% for deposits in USD.
The interest rates on deposits exceeding AMD 250 million or, in case of for 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.
A bank account in any currency other than AMD implies foreign exchange risk related to exchange rate fluctuations. Particularly, in case of fluctuations in the given foreign currency, the equivalent of your amount in AMD may change.
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.
| 3 months | 6 months | 9 months | 12 months |
18 months |
24 months |
36 months | |
|---|---|---|---|---|---|---|---|
| AMD |
4.07% | 5.12% |
6.17% |
7.23% |
7.23% |
7.76% |
7.76% |
| USD |
1.00% | 1.51% |
2.02% |
2.53% |
2.53% |
2.78% |
2.78% |
| EUR | 0.50% | 1.00% | 1.26% | 1.51% | 1.51% | 1.51% | 1.76% |
|
AMD |
|
| 3 months | 4.07% |
| 6 months |
5.12% |
| 9 months |
6.17% |
| 12 months |
7.23% |
| 18 months |
7.23% |
| 24 months |
7.76% |
| 36 months |
7.76% |
|
USD |
|
| 3 months | 1.00% |
| 6 months |
1.51% |
| 9 months |
2.02% |
| 12 months |
2.53% |
| 18 months |
2.53% |
| 24 months |
2.78% |
| 36 months |
2.78% |
| EUR | |
| 3 months | 0.50% |
| 6 months | 1.00% |
| 9 months | 1.26% |
| 12 months |
1.51% |
| 18 months |
1.51% |
| 24 months |
1.51% |
| 36 months | 1.76% |
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.
| Initial deposit amount |
AMD 1,000,000 |
|---|---|
| Deposit term | 12 months |
| Annual nominal interest rate | 7% |
| Annual nominal interest rate effective for one month term deposit at the moment of deposit premature withdrawal |
3% |
| Days in a year | 365 |
| Deposit opening date | 01.03.2018 |
| Deposit maturity date | 01.03.2019 |
| 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 |
Annual nominal interest rate effective for one month term deposit at the moment of deposit premature withdrawal |
| AMD 1,000,000 |
3% |
| 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 two months (7%) = 11,506.85
10% tax from interest income = 11,506.85 x 10% = 1,150.68
Paid net interest for two months = 11,506.85 - 1,150.68 = 10,356.16
Recalculated interest for two months (3%) = 4,931.51
10% tax from interest income = 4,931.51 x 10% = 493.15
Net interest to be paid for two months = 4,931.51 - 493.15 = 4,438.36
Deductible amount from deposit principle = 10,356.16 - 4,931.51 = 5,917.81
Things you should know
Financial directory (website in Armenian)
Your Financial Directory is an electronic search and comparison tool for services offered to individuals to ease the process of making the most effective choice for you.
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: 10.05.24, 03:11