"Converse Bank" CJSC offers a range of term deposits with an option of choice convenient for the depositor.
Deposits are accepted from private individuals and legal entities, as well as private entrepreneurs, in AMD, USD, and Euro, both in cash and non-cash manner.
What kinds of term deposits are accepted by Converse Bank?
*Deposits Progress and Karas, and others deposits covered by campaigns, can be deposited also online, without the possibility of making the deposit in favour of a third person.
General conditions of term deposits
- The commencement date of the deposit is the date of crediting the funds to the depositor's account.
- The fact of making the deposit is evidenced by the agreement, according to which the depositor is entitled to demand return of the deposit by the Bank, with the respective specified interest amount.
- If the deposit is made in foreign currency, then the depositors confirms by the agreement that at the time of signing it he/she was aware of and accepted the potential risks resulting from currency exchange.
- The depositor cannot conclude current banking operations with the deposit account, besides supplementing the deposit amount, provided that the deposit was made with the right of supplementing its amount by the depositor.
- Account statements, the information bulletin, and other information related to deposits, can be obtained in person, by regular post, or e-mail, via Internet-Bank system, filling out the respective "Request for Information".
- For non-resident legal entities, the interest amounts accrued to deposits are taxed by 10%.
- If, by the depositor’s request, a term deposit is returned before its expiry or before occurrence of the circumstances specified by the banking deposit agreement, then the interest amount is recalculated on the basis of the submitted application, on the following conditions:
- If the deposit agreement is terminated before its expiry, then the interest amount is recalculated on the basis of the submitted application, on the following conditions:
a/ Interest amount is recalculated for deposit type "Progress", at the interest rate of demand deposit applied at the Bank at the moment, unless otherwise specified by the agreement;
b/ For deposits with CBFR interest rate:
- In case of demanding the deposit back before expiry of 1-year period after the commencement date of the deposit, the average balance of the deposit during its validity period is determined, from which the amount accrued by the Bank is deducted and recalculated, using the interest rate of a demand deposit, applied at the Bank at the moment.
- In case of demanding the deposit back after expiry of 1-year period, the interest amount is recalculated for the amount accrued and paid during the previous one year, using the interest rate of a demand deposit, applied at the Bank at the moment. No recalculation is made for the interest amount calculated and accrued before that date /before the last day of the year preceding the previous one year/.
- Starting from the date of expiry of the term of deposits made by the depositor (unless another instruction is issued by the depositor), the deposit amounts and interest acquire the status of a demand deposit and are credited to the demand deposit account opened in the depositor customer’s name.
- The size of the interest determined by the term deposit agreement for a deposit, which the person has made with the condition of getting it back after expiry of a certain time period, cannot be reduced by the Bank unilaterally, unless otherwise defined by the law.
- Funds can be credited to the deposit account, in the depositor’s name, also by third persons, after checking the necessary data related to the deposit account, unless otherwise specified by the agreement.
- The depositor is entitled to make a deposit at the Bank in the name of a third person, according to the procedure specified by the legislation of the RA.