en 
am 
Your money is in safe hands!
- Easy save account is available in AMD, USD, and EUR.
- The number of account replenishments and withdrawals is not limited during the effect of the Easy save account agreement.
- The bank has the right to change the interest rate unilaterally with the prior notification to the Client.
- The account can be replenished by third parties by presenting the necessary details of the deposit account.
- The disputes between the Bank and the Client are to be resolved in the court of RA but also can be submitted to the financial mediator in accordance with the Law on Financial Mediator of the Republic of Armenia. The bank may refuse to dispute the resolutions of the financial mediator if the property claim to the bank does not exceed 250 000 AMD or its equivalent in any foreign currency and the amount of the transaction does not exceed 500 000 AMD or its equivalent in any foreign currency. It means that the bank is not able to dispute the resolution of the financial mediator, which satisfies the above-mentioned requirements.
- The bank acts as the tax agent of the depositor while paying the accrued interest according to the TAX Code of the Republic of Armenia․ The Bank charges income tax in the amount of 10% of income (paid interest) and transfers to the state budget.
- Interest is calculated from the day of investment till the day before maturity.
- Interest for the balance of the account is calculated in the currency of the principal, paid in AMD, and credited to the account every six months. In the case of a foreign currency account, the accrued interest is converted to AMD at the foreign exchange rate set by the Bank. In case of early redemption of deposit agreement the accrued interest is paid.
- Interest is calculated on a daily basis for a 365-day year (three hundred sixty-five) on the actual balance of the account.
| Currency | Interest rate | Maximum amount* |
|---|---|---|
|
AMD
|
4
|
30 000 000
|
|
USD
|
1
|
100 000
|
|
EUR
|
0.1
|
50 000
|
Accrued interest is paid on 30 June and 31 December.
*If the balance exceeds the maximum amount set above, then for the whole amount the Demand Deposit annual interest rate will be applied:
|
Currency |
Interest rate |
|
AMD |
0.01% |
|
USD |
0.01% |
|
EUR |
0.01% |
- In case the balance of the account is 15,000,000 AMD, 50,000 USD, and 25,000 EUR, the annual percentage yield of the Easy save account is as follows:
|
Currency |
APY |
|
AMD |
3.61% |
|
USD |
0.89% |
|
EUR |
0.06% |
| Title | Tariff* |
|---|---|
|
Opening of accounts for resident Individuals
|
1,000
|
|
Opening of accounts For non-resident Individuals
|
5,000
|
|
Opening of accounts For non-resident Individuals (overseas)
|
50,000
|
|
Additional account opening
|
1,000
|
|
Early maturity
|
N/A
|
|
Maintenance of accounts (monthly)
|
200
|
|
Minimum balance
|
1,000 (or c/v)***
|
|
Statements of account charges
|
|
|
Monthly
|
free
|
|
Duplicate up to 6 months**
|
3,000
|
|
Duplicate over 6 month**
|
6,000
|
|
Certificate of balance related to accounts or loans**
|
3,000
|
|
Certificate of transaction**
|
10,000
|
|
Issuance of checkbooks**
|
-
|
|
Stop payment
|
-
|
|
Check returned due to insufficient funds
|
-
|
|
Account closure
|
600
|
|
Validation of Internal Proxy**
|
5,000
|
|
Instructions by Telex, Fax and E-mail (yearly)
|
20,000
|
|
Bank confirmation of information for audit purposes**
|
10,000
|
|
Cash Deposit into Easy Save Accounts (AMD/USD/EUR)
|
0%
|
|
Cash deposit of EUR 500 on any account
|
1%
|
|
Cash Withdrawal from Current and Easy Save Accounts against cash credits (deposits) for AMD/USD/EUR
|
0%
|
|
USD Cash Withdrawal from current and easy save accounts against non cash credits
|
2%
|
|
EUR Cash Withdrawal from current and easy save accounts against non cash credits
|
2%
|
|
AMD Cash Withdrawal from Easy Save account in against non cash credit
|
0.2%
|
|
AMD Cash Withdrawal from Current Account against non cash credit
|
0.2%
|
|
Exchange of worn out Foreign Currencies quoted by the bank
|
3%
|
|
Cash deposit of USD 5, 10, 20, 50 banknotes issued before 2004 and USD 100 banknotes issued before 2009****
|
1%
|
|
Withdrawal of USD 5, 10, 20, 50 banknotes issued before 2004 and USD 100 banknotes issued before 2009
|
0%
|
*Tariffs are presented in AMD
**VAT included
***USD -3, EUR-2, RUB -100
****No fee will be charged when depositing a total of up to USD 1000 per day in said banknotes.
Note: GBP banknotes issued earlier than 1 January 2016 will not be accepted by the Bank.
The restrictions on the account-holder to handle the balance of the
account, as well as the debiting of the account without the instruction
of the account-holder is possible under the court resolution with the
decision of the Judicial acts compulsory enactment service or tax
authorities.
According to the law of the RA “On Combating against
Money Laundering and Terrorism Financing” the Bank for proper
investigation of clients' profile can obtain additional documents or
other information as per Know your customer-principals, also during
verbal communication ask additional questions from the client (in case
of need).
According to an agreement with the United States of
America regarding the Foreign Account Tax Compliance Act (FATCA) - the
Bank may request or gather additional information in order to identify
Borrower’s status as a USA taxpayer.
Information about loans are
also presented on www.fininfo.am web page, section “Your financial info
center”, which is an electronic system for searching and comparing of
services and makes it easy for you to choose which option is the easiest
way for the most efficient option selection.
Dear Depositor
The guarantor of your deposits is the Deposit Guarantee Fund (henceforth the Fund).
The location of the Found: 0010, Yerevan, 15 M.Khorenatsi,
Elite Plaza business complex, office 2-A5
Tel: 583514
Website:www.adgf.am
All the definitions within this Notice are in compliance with the definitions of the Law of Republic of Armenia “On Guarantee of Compensation for the Banking Deposits of Physical Persons” (hereinafter the Law).
Your guaranteed deposit is subject to compensation in the following events:
- If the Bank in accordance with the legislation of Republic of Armenia is recognized as insolvent and the fact of incapacity to repay the deposits, within the terms defined by the agreement and the law, is approved by the Board resolution of the Central Bank of Republic of Armenia (hereinafter the Central Bank); or
- If the bank in accordance with the procedure defined by the legislation of Republic of Armenia is recognized as bankrupt (hereinafter the Insolvent Bank).
Limits of guaranteed deposits are as follows:
|
The currency structure of the deposit |
If you have a deposit only in AMD, within the same bank |
If you have a deposit only in foreign currency, within the same bank |
If you have deposits both in AMD and in foreign currency within the same bank |
If you have deposits both in AMD and in foreign currency within the same bank |
|
If the deposit is more than AMD 7 million |
If the deposit is less than AMD 7 million |
|||
|
The maximum amount of the deposit guarantee |
AMD 16 million |
AMD 7 million |
AMD 16 million (only the deposit in Armenian drams is guaranteed) |
AMD 7 million (the deposit in Armenian drams is fully guaranteed and deposit in foreign currency is guaranteed in the amount of the difference between 7 million Armenian drams and the guaranteed deposit in Armenian drams) |
All your deposits in Armenian drams within the same Bank are deemed to be a single deposit in Armenian drams, except for the unguaranteed banking deposits, and all your deposits in foreign currency within the same Bank are deemed to be a single deposit in foreign currency, except for the unguaranteed banking deposits.
If you have separate banking deposit in the insolvent bank and at the same time you are an owner of joint banking deposit within the same bank, you are guaranteed for the sum of your separate banking deposit and your portion of the joint banking deposit - in accordance to the procedure and the amount stipulated in the Law.
If you have an obligation towards the insolvent bank, the compensated amount is calculated based on the positive difference between your banking deposit and the obligation - in accordance to the procedure and the amount stipulated in the Law.
The joint banking deposit of two or more depositors is considered separate deposit of each depositor in the portion defined by the agreement. If the portions of the depositors of the joint banking deposit are not defined in the agreement, the joint deposit is equally divided between the depositors.
The banking deposit is compensated only in Armenian drams. The dram equivalence of banking deposit in foreign currency is determined by the currency market average exchange rate published by the Central Bank on the day the compensation event has occurred.
Your banking deposit is not compensated if on the date of compensation occurrence the deposit is less than 1000 Armenian drams.
Your banking deposit is unguaranteed if:
a) you are a manager of the respective bank and(or) a family member of the latter,
b) you have a significant shareholding in the respective bank and (or) its family member,
c) you, as an owner (co-owner) of the deposit waive your right to the respective portion of the deposit,
d) your deposit has been qualified as proceeds generated from criminal activity unless you prove to the contrary,
e) your deposit has been placed with the respective bank at an interest rate exceeding 1.5 times the interest rate stipulated by the public agreement of the bank for similar deposits,
f) your deposit is placed with a branch of the respective bank established outside the Republic of Armenia.
Within three days following the day of compensation event the Fund publishes the announcement on the compensation event. Within thirty days following the day of compensation event the Fund through the insolvent bank or any other bank starts the process of compensation of your deposits. The process starts upon the posting of the additional announcement on compensation by the Fund through the means of Mass Media. You may file a written claim no later than within one year period following the day of compensation event. If you don’t file a written claim within the mentioned period the Fund will not compensate your guaranteed deposit. The Fund must pay the compensations claimed by the depositors within three months period following the filing the written claim except in the cases stipulated by the Law.
After the compensation of the guaranteed deposit your monetary claim against the insolvent bank is deemed to be satisfied in proportion of the repaid amount. Any outstanding amount in excess of the maximum repayment limit is deemed to be the liability of the insolvent bank to you.
For smooth processing of the compensation of your deposit it is recommended to immediately inform the bank about any changes in the data (ID/passport details, details of Social Card, address, telephone number, etc.) provided to the bank.
