“ARARAT BUSINESS” deposit for legal entities


“ARARAT BUSINESS” deposit enables customers not only to replenish the deposit account with a twofold amount of the initial deposit amount, but also to withdraw funds of up to 20 per cent of the initial amount from the deposit account, maintaining the accrued interests for the given period.   

Terms and conditions


Minimum deposit amount AMD 500 000 or USD equivalent
Maximum initial deposit amount AMD 100 000 000 or USD equivalent
Deposit maturity 31-90 days, 91-180 days, 181-270 days, 271-365 days, 366-1100 days
Interest accrual Interests shall be accrued on the actual daily balance of the deposit account on the next day after the amount has been deposited at the Bank till the amount is paid back to the depositor or the day preceding the day the amount has been withdrawn from the deposit account on other bases, accepting the year as 365 days and 366 days for the leap year.
Interest payment order Interests shall be paid in non-cash form to the customer’s bank/card accounts* at customer’s discretion.

If the payment day coincides with the Bank’s non-working day, then the payment is executed on the first working-day following the non working-day.
Interest payment periodicity Interests shall be paid at the request of the depositor on monthly, quarterly basis or at maturity
Capitalization Acceptable
Deposit replenishment (adding funds to the deposit at the applicable terms) The depositor can replenish the Deposit during the first half of the whole deposit period only as stipulated by the Agreement, except for the amount deposited with a maturity period of 31-90 days, the replenishment of which is prohibited.
Limit on the deposit replenishment amount Total maximum deposit amount after the replenishment cannot exceed the two-fold (more than twice) of the initial Deposit amount.
Withdrawal of deposit (partial withdrawal of amount) If the depositor claims maximum 20% of the initial deposit amount before 31 (thirty-one) days after the deposit agreement has been executed, as well as in the event of early termination of the Deposit Agreement, an interest rate of 0.01% per annum shall apply over the withdrawn amount for a period between the date the deposit was placed and the date the deposit was claimed.

If the depositor claims maximum 20% of the initial deposit amount within a 31-365 –day period after the deposit agreement has been executed, interests shall apply over that amount for a period between the date the deposit was placed and the date the deposit was claimed at the applicable interest rates of term deposits at that moment, and any amounts paid in excess of recalculated interest shall be withheld from the principal amount of deposit.

If the depositor claims maximum 20% of the initial deposit amount after 366 days after the deposit agreement has been executed, interests shall apply over that amount for a period between the date the deposit was placed and the date the deposit was claimed at the interest rates applicable at the Bank.



Notification

* At the request of the depositor, the latter may be issued MasterCard Business
Annual service fee of the card is AMD 5000,
No minimum balance requirement,
Terms of card issue shall be effective during the whole validity period of the card (two years).

 

Deposit currency Interest payment periodicity Deposit maturity
31–90 days 91–180 days 181-270 days 271-365 days 366-1100 days
AMD Monthly/ quarterly/ at maturity 4.25%

*+0.25%=4.50%
5.75%

*+0.25%=6.00%
6.75%

*+0.25%=7.00%
8.25%

*+0.25%=8.50%
9.25%

*+0.25%=9.50%
In case of attraction of deposit of AMD *20.000.000 and an amount exceeding that amount, an interest rate for the relevant period+0.25% shall be set.
USD Monthly/ quarterly/ at maturity 31–90 days 91–180 days 181-270 days 271-365 days 366-1100 days
0.25 %

*+0.25%=0.50%
1.25 %

*+0.25%=1.50%
2.25%

*+0.25%=2.50%
3.25%

*+0.25%=3.50%
4.25 %

*+0.25%=4.50%
In case of attraction of deposit of USD *50.000 and an amount exceeding that amount, an interest rate for the relevant period+0.25% shall be set.




 





Back