“Ararat business” deposit
Ararat BUSINESS deposit enables customers not only to top up the deposit account, but also withdraw funds from this account for up to 20% of the initial amount by retaining the interest rates accrued for the given period.
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Maximum period
1.100 days
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Minimum period
31 days
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Currency
AMD, USD
| Currency | AMD, USD |
| 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deposited at the Bank till the amount is paid back to the depositor or the day preceding the day the amount has been withdrawn from the deposit account on other bases, accepting the year as 365 days and 366 days for the leap year.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. |
| 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. |
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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as in the event of early termination of the Deposit Agreement, an interest rate of 0.01% per annum shall apply over the withdrawn amount for a period between the date the deposit was placed and the date the deposit was claimed. |
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 |
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| 31–90 days | 91–180 days | 181-270 days | 271-365 days | 366-1100 days | ||
| AMD |
Monthly/ quarterly/ at maturity |
3.50%
*+0.25%=3.75% |
5.00%
*+0.25%=5.25% |
6.00%
*+0.25%=6.25% |
7.50%
*+0.25%=7.75% |
8.00%
*+0.25%=8.25% |
| 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% |
4.00% *+0.25%=4.25% |
||
| *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. | ||||||
Please follow the Armenian version
Please follow the Armenian version
Interest calculated on a daily basis (In case of accumulative deposit, the calculation is made on the sum of the final deposit)
Total interest income calculated on the date of the deposit agreement
Net interest income actually paid to depositor during the deposit contract (10% of income tax deducted)
Note: Your interest rate is 10% of income tax.
Page updated 03.12.2020 | 15:04
In case of discrepancy between Armenian and English versions of the information, the priority is given to the Armenian version.
