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“For Kids” deposit

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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․

  • Period

    2-18 years

  • Currency

    AMD, USD

Important to know

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.

Notes
  1. Minimum deposit amount is AMD15,000 (fifteen thousand) or USD50 (fifty).
  2. Deposits may be topped up during the whole period of agreement except during the 30 (thirty) days preceding maturity date of the Agreement.
  3. The interest rate of the deposit shall be fixed for two years and shall be revised once in every two years thereafter.
  4. 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.
  5. 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.
Plastic cards to depositors

Please follow the Armenian version

Required documents

Please follow the Armenian version

Conditions
Period Interest rates of deposit “For Kids”

2-18 years

AMD USD
10% 5.00%

Deposit amount

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Annual interest rate

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All fields are required to be filled out and must not contain 0.

Note: Your interest rate is 10% of income tax.

Interest calculated on a daily basis (In case of accumulative deposit, the calculation is made on the sum of the final deposit) 0 դր.
Total interest income calculated on the date of the deposit agreement 0 դր.
Net interest income actually paid to depositor during the deposit contract (10% of income tax deducted) 0 դր.
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Page updated 28.12.2018 | 13:16

In case of discrepancy between Armenian and English versions of the information, the priority is given to the Armenian version.