Converse Bank- Pension

Updated: 20.07.2012 11:57

Internet banking

My Converse

Registration system

	About Us
	Postbanking Services
	Time Deposits
	Loans
	Payment cards
	Calculators
	Other Services
	On-Line Banking
	Exchange and gold rates
	Converse Rewards
	Branches and ATMs
	Financial Statements
	Shareholders and Investors
	Press Center
	Job Openings
	Property for sale
	Regulation
	Customer Rights
	Forms
	Contact Us
	Converse Collection
	Converse Club
	Financial System Mediator

01.05.2013 - 31.05.2013

AMD - 11.00

USD - 7.00

Progress

Karas

Manuk (Kid)

Bareketsik apaga
(Well-to-do Future)

Orakan
(Daily)

Gtnvats yeraz
(Found Dream)

Cumulative
pension deposit

Gold Karas ^new

Cumulative
pension deposit

Կենսաթոշակային

Terms of Deposit

Limitations	RA Resident citizens
Currency	AMD
Minimum amount	AMD 10 000
Duration of accumulation	Difference between pension age and depositor's age min. 5 years
Accumulation period	Not regulated
Annual Interest Rate	CBFR¹+3% in deposit accumulation period
Annual Interest Rate	CBFR¹+3% in deposit accumulation period
Accrual of interests	The interests accrued at the year-end are added to the balance on the deposit
Return of deposit	Pre-term before the end of accumulation period; Pre-term return is prohibited unless otherwise established by the RA laws
Return of deposit	At the end of deposit accumulation period: From the date of reaching the pension age, the Depositor informs the Bank about the timing and method of return of the deposit, which can be: one-time periodic - no less than 3 years transfer to insurance company for payment of pension combination of above
Monthly installments	Formula for monthly installment: , moreover, it is required that Where: "D" is the Deposit balance on the business day following the date of reaching pension age by Depositor "P" is the periodic installment amount i"" is CBFR/24 on the business day following the date of reaching the pension age by Depositor "n" is the number of payment months
Taxes	The interests accrued and capitalized for accumulation of the deposit are not taxable The total deposit amount, as well as the interests accumulated and/or to be accumulated in the future are taxed at the date of redemption under the RA laws existing at the date of payment

Specifics of Cumulative Pension Deposit

Dear customers,

Please read the below stated very attentively:

The interests against the account amounts of the depositor are calculated on the basis of nominal interest rate and the annual profitability shows the possible income in case of depositing interest amounts. You can find the procedure and an example of calculating annual profitability in the link below:
The procedure and an example of calculating and paying deposit interests / according to Regulation 8/02 of the RA Central Bank "On calculation of annual interest profitability of bank deposits"/.