Individual
Deposits
Deposits
“For Kids” deposit

“For Kids” deposit

By investing the deposit “For Kids” today you will take care of your children’s well-being in the future. The deposit account “For Kids” will be opened in the name of the parent. You may later add any amount to it at any time, capitalize accrued interests and add to principal, withdraw the principal amount of deposit leaving the accrued interest amount unchanged, make use of credit lines, get loans under credit programs of ARARATBANK OJSC at preferential interest rates․

Currency

AMD, USD
Period

4-18 years
Percentage

AMD -10.5%, USD - 4.5%

Calculator

Conditions

Period	Interest rates of deposit “For Kids”
4-18 years	AMD	USD
4-18 years	10․5%	4.5%

Required documents

A passport (or identification card) or a military record book, and where a depositor is a foreign citizen (except for dual citizenship), passports shall be translated into Armenian and notarized.
A social card or a reference on issuing a public service number.
A power of attorney certified by a notary public, where a person is authorized to deposit and/or manage funds.

Plastic cards to depositors

Plastic cards shall be issued with no annual service fee and minimum required balance.

Currency	MC Standard/Visa Classic	MC Gold/ Visa Gold	MC Gold/Visa Gold, Diners Club Young Professional
AMD	Up to 10,000,000.00 initial deposited amount	From 10,000,001.00 up to 25,000,000.00 initial deposited amount	25,000,001.00 and over initial deposited amount
USD	Up to 20,000,00 and over initial deposited amount	From 20,001.00 up to 50,000.00 initial deposited amount	50,001.00 and over initial deposited amount

Important to know

Minimum deposit amount is AMD15,000 (fifteen thousand) or USD50 (fifty).
Bank and card accounts shall be opened for the Depositor free of charge. Once the deposit is repaid and the deposit agreement is not extended within one month, the current account shall become paid based on the rates applicable at the bank
Deposits may be topped up during the whole period of agreement except during the 30 (thirty) days preceding maturity date of the Agreement.
The interest rate of the deposit shall be fixed for 4 years and shall be revised once in every 4 years thereafter.
Accrued interests are subject to taxation at the moment they are paid out to the customer as provided by the Armenian Law on Income Tax.
If the depositor claims the deposit principal before the second anniversary after the deposit agreement has been executed, an interest rate of 0.1% per annum shall apply over that amount for a period between the date the deposit was invested and the date the deposit was claimed, and any amounts paid in excess of recalculated interest shall be withheld from the principal amount of deposit.

Deposits with ARARATBANK are guaranteed by the"Deposits Compensation Guarantee Fund". Both deposits (accounts) in Armenian drams and in foreign currency of either individuals or entrepreneurs are guaranteed. Maximum guaranteed amount for deposits in Armenian drams is 10 million drams, and 5 million drams for deposits in foreign currency. No actions shall be taken by the depositor to guarantee his deposit. From the moment the amount is deposited it is deemed guaranteed.

Metal accounts are not reimbursed by the Deposit Guarantee Fund.

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