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SERVICES | Demand and term deposits
Last update
28.07.2010
15:38
According to the “Armenian Deposit Guarantee Fund”, Deposits for Individuals are compensated at the following scale:
- If the Depositor has funds in AMD only, the guaranteed deposit amount is AMD 4 million.
- If the Depositor has funds in foreign currency only, the guaranteed deposit amount is AMD 2 million.
- If the Depositor has funds both in AMD and in foreign currency, and deposit in AMD exceeds AMD 2 million, only deposit in AMD up to AMD 4 million is guaranteed.
- If the Depositor has funds both in AMD and in foreign currency, and deposit in AMD is less than AMD 2 million, the deposit in AMD is wholly guaranteed, and the foreign currency deposit at the amount of the difference between AMD 2 million and compensated deposit in AMD
ATTENTION
The interest rates for Your current account are calculated on the basis of the nominal interest rate. The annual interest yield shows the income amount You will get if You reinvest the interest amount received from the deposit as an investment. You may find the method for calculating the annual interest yield
Compendium of bank deposits
 Calculation
DEMAND DEPOSITS
Interest rate for demand deposits attracted from Legal Entities and Individuals with a minimum deposit amount of AMD 5'000'000 or equivalent currency within at least 10 continuous days is 1 % per annum. In other cases the annual interest rate is 0.1% per annum.
The interests are paid quarterly on the very last weekday.
Specimen agreement of demand deposits for Legal Entities
Specimen agreement of demand deposits for Individuals
Ardshininvestbank offers to individuals a wide range of term deposits both in drams
of RA (AMD) and in foreign currencies (USD, EUR), which are to meet the demand
of any customer.
TERM DEPOSITS
If the customer, making investments, wants to earn monthly, quarterly income or prefers to receive the income at maturity date of deposit, Ardshininvestbank offers the following term deposits with fixed annual interest rates.
| INTEREST TO BE PAID AT THE END OF THE PERIOD OR QUARTERLY |
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Up to
20'000'000 |
20'000'001-
40'000'000 |
40'000'001-
100'000'000 |
Up to 50'000 |
50'001-
100'000 |
100'001-
250'000 |
Up to 35'000 |
35'001-
70'000 |
70'001-
200'000 |
20 - 29 days |
4.4 |
4.5 |
4.6 |
not accepted |
not accepted |
30 - 59 days |
4.9 |
5.0 |
5.2 |
2.9 |
3.0 |
3.1 |
1.6 |
1.7 |
1.8 |
60 - 89 days |
7.0 |
7.1 |
7.4 |
5.1 |
5.2 |
5.3 |
3.1 |
3.2 |
3.3 |
90 - 120 days |
8.9 |
9.1 |
9.2 |
6.0 |
6.1 |
6.3 |
3.4 |
3.5 |
3.6 |
121 - 150 days |
9.8 |
9.9 |
10.0 |
6.8 |
6.9 |
7.2 |
3.7 |
3.8 |
3.9 |
151 - 179 days |
9.9 |
10.1 |
10.3 |
7.1 |
7.2 |
7.5 |
4.1 |
4.2 |
4.4 |
180 - 270 days |
10.3 |
10.5 |
10.7 |
7.3 |
7.5 |
7.7 |
4.4 |
4.5 |
4.6 |
271 - 365 days |
10.6 |
10.8 |
11.0 |
7.6 |
7.7 |
8.0 |
4.7 |
4.9 |
5.0 |
366 - 549 days |
11.0 |
11.2 |
11.4 |
8.0 |
8.1 |
8.4 |
5.1 |
5.3 |
5.4 |
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| INTEREST TO BE PAID MONTHLY |
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|
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|
Up to
20'000'000 |
20'000'001-
40'000'000 |
40'000'001-
100'000'000 |
Up to 50'000 |
50'001-
100'000 |
100'001-
250'000 |
Up to 35'000 |
35'001-
70'000 |
70'001-
200'000 |
30 - 59 days |
4.8 |
4.9 |
5.0 |
2.8 |
2.9 |
3.0 |
1.6 |
1.7 |
1.8 |
60 - 89 days |
6.8 |
6.9 |
7.1 |
4.8 |
4.9 |
5.1 |
2.9 |
3.0 |
3.1 |
90 - 120 days |
8.2 |
8.4 |
8.5 |
5.3 |
5.5 |
5.6 |
3.0 |
3.1 |
3.2 |
121 - 150 days |
9.5 |
9.7 |
9.9 |
6.5 |
6.7 |
6.9 |
3.6 |
3.7 |
3.9 |
151 - 179 days |
9.8 |
9.9 |
10.0 |
6.8 |
6.9 |
7.2 |
4.0 |
4.1 |
4.2 |
180 - 270 days |
10.0 |
10.2 |
10.5 |
7.1 |
7.2 |
7.5 |
4.3 |
4.4 |
4.5 |
271 - 365 days |
10.2 |
10.5 |
10.7 |
7.2 |
7.5 |
7.7 |
4.6 |
4.7 |
4.8 |
366 -549 days |
10.6 |
10.9 |
11.1 |
7.6 |
7.9 |
8.1 |
5.0 |
5.1 |
5.2 |
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| "ADJUNCTING" DEPOSITS WITH INTEREST PAID AT THE END OF TERM |
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Up to
20'000'000 |
20'000'001-
40'000'000 |
40'000'001-
100'000'000 |
Up to 50'000 |
50'001-
100'000 |
100'001-
250'000 |
Up to 35'000 |
35'001-
70'000 |
70'001-
200'000 |
20 - 29 days |
4.0 |
4.2 |
4.3 |
not accepted |
not accepted |
30 - 59 days |
4.6 |
4.7 |
4.9 |
2.5 |
2.6 |
2.8 |
1.5 |
1.6 |
1.7 |
60 - 89 days ** |
6.4 |
6.6 |
6.7 |
4.4 |
4.5 |
4.7 |
2.7 |
2.8 |
2.9 |
90 - 120 days ** |
8.0 |
8.1 |
8.4 |
5.2 |
5.3 |
5.5 |
2.9 |
3.0 |
3.1 |
121 - 150 days ** |
8.8 |
8.9 |
9.1 |
5.9 |
6.0 |
6.1 |
3.2 |
3.3 |
3.4 |
151 - 179 days ** |
9.0 |
9.1 |
9.3 |
6.1 |
6.3 |
6.4 |
3.5 |
3.6 |
3.7 |
180 - 270 days ** |
9.5 |
9.7 |
9.8 |
6.3 |
6.5 |
6.7 |
3.8 |
3.9 |
4.1 |
271 - 365 days ** |
9.7 |
9.8 |
9.9 |
6.5 |
6.7 |
6.9 |
4.1 |
4.2 |
4.4 |
366 - 549 days ** |
10.1 |
10.2 |
10.3 |
6.9 |
7.1 |
7.3 |
4.5 |
4.6 |
4.8 |
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* The above mentioned limits refer to the initial deposit amount.
** In case of filling the deposit up within the last 30 days of deposit period, interests for the current type of deposit are calculated in accordance with the interest rate fixed for 20-29 days for AMD, 2% for USD, 1% for EUR.
The annual interest rates and service terms for deposits attracted for more than 549 days of deposit period are accepted on contractual (individual) basis.
The annual interest rates and service terms of term deposits of more than USD 250'000, EUR 200'000 or AMD 100'000'000 are fixed on contractual (individual) basis.
Specimen agreement of term deposits for Individuals
Specimen agreement of term deposits for Individuals with the right of adjunction
Specimen agreement of term deposits in favour of the third party (for Individuals)
Specimen agreement of term deposits for the Legal Entities
Specimen agreement of term deposits for Legal Entities with the right to adjuncty
| "TRANSFER PLUS" TERM DEPOSIT |
| Period |
30-89 days |
90-179 days |
180-270 days |
271-365 days |
| Annual interest rate (%) |
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5.6 |
3.5 |
1.9 |
8.9 |
6.0 |
3.2 |
9.8 |
6.8 |
3.9 |
10.0 |
7.0 |
4.2 |
| Interest payment |
Ad lib of the Customer -at the end of the period or monthly |
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| Minimum amount |
40'000 |
100 |
80 |
| Maximum amount |
100'000'000 |
250'000 |
200'000 |
| In case of exceeding the maximum amount - by arrangement |
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- Upon the customer request, credit cards ""MasterCard Standard " can be provided free of charge with a credit line facility up to 80% of the deposit and at 13% annual interest rate. The credit is provided at deposit currency. The repayment period for the credit and calculated interests is equal to the deposit timeframe.
- Deposits with the current terms are implemented only for the individuals receiving money transfers from abroad by transforming the total amount or the part of them to term deposits.
- Deposits are accepted in AMD, USD and EUR currencies. Money transferred in other currencies can be implemented as "Transfer Plus" deposit at the exchange rate fixed by Ardshininvestbank on the date of signing term deposit agreement and depositing.
- The deposit is accepted with the right of adjunction from transfers received from abroad by the individual during the contract validity period.
- In case of claiming back up to 30% of initial deposit during the contract validity period, interest rate is calculated in accordance with contract, and the contract continues to act on the amount of deposit residual.
- In case of claiming back more than 30% of initial deposit amount during the contract validity period, the interest recalculation is made for the returnable part with 3% annual interest rate, and the contract continues to act on the amount of deposit account residual. In case of claiming back the entire deposit, interest recalculation is made under 3% annual interest rate, and the contract is considered terminated.
- If the deposit is invested or filled up from the funds received via SWIFT transfer system, and were held at the bank 30 days and more as "Transfer Plus" deposit, then fee for cash witdrawal is not charged if repaying national currency deposits or part of it in cash,
- If the deposit is invested or filled up from the funds received via SWIFT transfer system, and were held at the bank 29 days and more as "Transfer Plus" deposit, then fee for cash witdrawal is not charged if repaying national currency deposits or part of it in cash,
Specimen agreement of "TRANSFER PLUS" deposit for Individuals
| "UNIVERSAL" TERM DEPOSIT |
| Minimum amount |
AMD 250'000, USD 800, EUR 600 |
| Maximum amount |
AMD 100'000'000, USD 250'000, EUR 200'000 |
| Period |
90-179 days |
180-270 days |
271-365 days |
| Currency |
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| Annual interest rate |
8.9 |
6.5 |
3.2 |
9.8 |
7.3 |
3.9 |
10.0 |
7.5 |
4.2 |
| Interest payment |
Ad lib of the Customer - monthly or at the end of the period |
| Other terms |
1. Right to adjunct*
2. Right to convert |
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* If the Depositor makes adjunctions during the last 30 days of the deposit validity period, the interests for filled amount are calculated at 2% interest rate.
- The annual interest rates and service terms of term deposits of more than USD 250'000 , EUR 200'000 or AMD 100'000'000 are stated on contractual basis.
- The deposit amount can be filled up during the contract validity period.
- On a written commission and ad lib of the Customer, the Bank converts the cash of the deposit account into the currency(currencies) acceptable from the Bank as a Deposit at the Bank's exchange rate(without any variation) for the current day keeping the accumulated interests. It is recorded in the deposit account for the given currency at the terms and conditions of the initial deposit contract. The interests are accrued for the converted currency at the annual interest rate acting at the Bank currently.
- Converting the Deposit currency, the accumulated interest rates are also converted at the exchange rate fixed by the Bank for the current day (without any variation).
- If the Customer applies for deposit currency conversion till 03:00AM, the transaction is made at the same day; on the other way - at the next banking day.
- During contract validity period, the Customer is entitled to convert the deposit currency once each 90 days after making deposits or last conversion.
- In case the Depositor requests back the deposit or a part of it before the first conversion prior to the end of the period, the interest payments for the returnable amount are calculated at the terms and conditions designed for demand deposit based on the actual number of additions to the initial deposit amount, and previously paid deposit is recalculated for the returnable part of the deposit. The interests paid in excess are kept from the returned part of the term deposit and the agreement continues to act for its remaining part.
- In case the Depositor requests back the deposit or a part of it after the first or future conversion prior to the end of the period, the interest payments are calculated at the terms and conditions designed for demand deposit based on the actual number of additions to the initial deposit amount, and the deposit previously paid is recalculated for the returnable part of the deposit. In the current situation, the bilateral agreement is considered dissolved, and the rights and responsibilities - terminated.
Specimen agreement for "UNIVERSAL" term deposit
| "CHILD" TERM DEPOSIT |
| Period |
| 731 days and more |
| Annual interest rate* |
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|
| 6.9% |
9.9% |
| Minimum amount |
| AMD 40'000 or USD 100 |
| Adjunction opportunity |
| Interest payments |
| Once a year it is capitalized on the deposit amount |
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In case of filling the deposit up within the last 30 days of Agreement validity period, interests for the adjuncted part of deposit are calculated in accordance with the interest rate fixed for "Adjuncting" deposits with a period of 20-29 days for AMD, 2% annually for USD.
1.1 The deposit is invested in favor of the juvenile third party, in person of its legal representatives. The thirth party will obtain a right of depositor when he/she becomes 14 years old and applies to the Bank for his/her right or when he/she informs the Bank about the intention of exercising his/her right.
1.2. The existing interest rate is revised every 732 day starting from deposit investment in accordance with 365 day interest rate of "adjuncting" deposit.
1.3. Accumulated interests are capitalized on deposit amount once a year every 365 day starting from deposit investment. According to the RA law on "Income tax", the bank charges income tax from the capitalized interest amount and is transferred to state budget. If the deposit is invested in foreign currency, the accumulated interest is exchanged in AMD at the settlement rate, after which the above mentioned interest tax is charged, then the accumulated interest will be expressed in foreign currency at the bank sell exchange rate and will be capitalized on the deposit amount.
Specimen agreement for "CHILD" term deposit
| "CARD" TERM DEPOSIT |
| Amount |
From AMD 100'000 to AMD 100'000'000, from USD 250 to USD 250'000, from EUR 150 to EUR 200'000 |
| Period |
180-270 days |
271-365 days |
| Annual interest rate (%) |
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10.1 |
7.1 |
4.1 |
10.4 |
7.4 |
4.4 |
| Interest Payment |
Ad lib of the Customer - monthly or at the end of the period |
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1.1 Upon the customer request, credit cards "MasterCard Standard" can be provided free of charge with credit line facility up to 80% of the deposit and at 13% annual interest rate. The credit is provided at deposit currency. The repayment period for the credit and calculated interests is equal to the deposit timeframe.
1.2 In case of depositing more than AMD 100'000'000 or USD 250'000 or EUR 200'000 or deposits with more then 365 days of validity period, the annual interest rate of the deposit is settled by an arrangement.
1.3. In case of depositing more than AMD 100'000'000 or USD 250'000 or EUR 200'000 "MasterCard Gold" or "VISA Gold" can be provided free of charge with credit line facility up to 80% of the deposit amount and at 13% annual interest rate. The credit is provided at term deposit currency. The repayment period for the credit and calculated interests is equal to the deposit timeframe.
1.4 In case of claiming back a part of deposit prematurely, the contract continues acting on deposit amount residual, the accumulated interest is recalculated, and the interest rate for demand deposit determined by the Bank is applied to the returnable amount.
1.5 In case the deposit is repaid within 6 months, annual fee for plastic card service is charged in accordance with the agreement.
Specimen agreement of "Card" term deposit
| “DISCOUNT” TERM DEPOSIT |
| Deposit amount |
USD 100'000 - USD 500'000 or equivalent in EUR and AMD currencies |
| Period |
270-365 days |
366-549 days |
550-732 days |
| Currency |
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| Annual interest rate (%) |
9.5 |
7.4 |
4.8 |
9.8 |
7.7 |
5.1 |
10.0 |
7.9 |
5.3 |
| Interest payments |
At the moment of depositing, by discount - at the amount of deposit period |
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– In case the deposit amount exceeds AMD 200'000'000 or USD 500'000, or EUR 360'000 or the deposit period exceeds 732 days, the annual interest rate is defined on contractual basis.
– In case the Depositor requests back the deposit before the maturity period, the Bank calculates and pays interests at the terms and conditions determined for demand deposit by recalculating the interests paid as discount, and extra paid interests resulted from that are withdrawn from term deposit, after which the remaining is returned to the Depositor.
– In case the Depositor requests back a part of the deposit before the maturity period, the Bank calculates and pays interests for the returnable part at terms and conditions determined for demand deposit by recalculating the interests for the returnable part paid as discount, and extra paid interests resulted from that are withdrawn from the returnable part of term deposit; the contract is valid for the remaining part of Deposit held in the Bank.
Specimen agreement of "Discount" term deposit
| “DRAM” TERM DEPOSIT |
| Minimum amount |
100'000 |
| Period |
365 days |
| First annual interest rate (%) |
11 |
| Interest payments |
At the end of the period |
| Other |
Every 90 days 1% is added to the acting interest rate, defined in the agreement |
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In case of claiming the deposit amount or the part of it back within 180 days (inclusively) after depositing, the interest payments for the returnable amount are calculated at the terms and conditions designed for demand deposit. In case of claiming the deposit or the part of it back after 180 days the returnable amount is calculated based on initial interest rate.
Specimen agreement of "Dram" term deposit
Interest Rates of the deposits attracted from Legal Entities are fixed by arrangement, in the dimensions not exceeding those fixed for Individuals.
Interest Rates of deposits attracted from non-residents from abroad are fixed by arrangement.
In case the Depositor doesn't request back the deposit after the maturity period, specified in the Agreement, the Agreement is considered to be extended under terms and conditions of demand deposit, if nothing else is specified in the Agreement.
In case the Depositor requests back the deposit before the maturity period, the Bank calculates and pays interests at the terms and conditions determined for demand deposit by recalculating the interests.
Third person can put money on the depositor's account after verifying the necessary data of the deposit account, if nothing else is provided by the agreement.
In case the Depositor requests back a part of the deposit before the maturity period, the Bank calculates and pays interests for the returnable part at the terms and conditions determined for demand deposit by recalculating the interests for the returnable part.
The Bank has not right of solely reducing the interest rate defined by the agreement of the bank deposit that a citizen put for receiving back after some period, if nothing else is provided by the law.
As a tax agent the Bank, while paying the interest generated on the Deposit in accordance with the RA law on “Incomes” is levying the sum of the income tax
(10%) and transferring it to the state budget.
Account servicing terms and conditions
All interests are paid in AMD (cash or cashless at the will of the customer).
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