Initial amount

AMD 5,000,000

Opening date

01/05/2020

Effective period

366 days (until 02/05/2021)

Annual interest rate

8.5%

Interest payment

At expiry

Income tax

10% from interest income

ATTENTION

The deposit is opened once the amount is recorded on the Depositor’s account opened with Bank. This is done by making a  transfer on behalf of the Depositor from a financial organization acceptable for the Bank.

For AMD deposit, the change in the USD exchange rates can have an impact on the paid amounts of deposit and interest.

For AMD deposit, the USD amount transferred by the Depositor to the account opened with the Bank, is converted into AMD at the noncash buy rate applied by the Bank at the date of opening of the deposit.

The amount of the deposit can differ from the initial amount specified by the Depositor in the Application if:

a)The amount transferred by the Depositor to the account opened with the Bank is deducted by the amount of additional charges by intermediary banks, and with this respect no claims may be presented to the Bank by the Depositor

b) The deposit is opened in AMD (since the conversion from USD into AMD is implemented by the rate specified by the Bank as of the time of conversion).

The total amount transferred on behalf of the Depositor and recorded on the account opened for the latter shall be attracted by the Bank as a deposit; furthermore, where at the point of opening of the deposit the funds available on the account opened with the Bank exceed the maximum amount set by the Bank for the particular type of deposit, then the amount is deposited to the maximum amount defined for the particular type of deposit, and the difference is deemed attracted on the terms of demand deposit effective at the Bank.  The demand sum is transferred to the customer once the time deposit is redeemed, together with the deposit amount and interest.  At the Depositor’s discretion, the difference can be transferred to the Depositor’s account.

On the day of redemption of the AMD deposit, the deposit amount and interest are paid with AMD on the Depositor’s account opened with the Bank, thereafter converted into USD at the noncash sell rate applied by the Bank at the date of opening of the deposit, to have the total amount transferred to the Depositor’s account opened with another financial organization.

Unless the Depositor notifies the Bank about the change in the their bank details and unless discloses the new bank details acceptable for the Bank, the Bank transfers the deposit amount, interest and the demand amount, if any, by using the details of the financial organization where from the deposit amount was originally received. Unless the Depositor discloses the details of a financial organization acceptable for the Bank, the Bank can demand the Depositor’s visit to the Bank to receive the deposit amount and interest in person.

The Bank transfers the deposit amount and interest to the financial organization only to the account opened on behalf of the Depositor.

The Bank shall  decline the Application in below cases:

1.       a)    The Depositor fails to disclose to the Bank all details of the transactions for opening of the deposit         required under the AML/CFT related international norms or RA laws and/or internal regulations of the Bank;

b)    The Customer’s business or the business relation with the latter can, in the Bank’s judgment, arouse         suspicion with any partner or international organization about the Application of inefficient AML/CFT             remedies by the Bank, and/or can have an adverse effect on the Bank’s reputation (for instance, if the Customer or parties related thereto appear in any of the blacklists of the UN Security Council, USA or                European Union or any other special sanction lists);

c)    The Customer’s business or any transaction  made thereby is from the AML/CFT perspective viewed as   matching with the standards of being suspicious, and the supporting documents and/or justifications     have not been disclosed in the set deadlines.

2.       The Bank does not identify the customer with the details disclosed to the Bank, and/or during the video call the Bank does not receive from the customer satisfactory assurances, based whereon the Bank could conclude that the customer was personally willing to open a deposit with the Bank on terms stated in the Application.

3.       The deposit amount is to be or has been transferred by a financial organization unacceptable for the Bank, and/or a third party other than the depositor has been involved in the transfer process.

4.       The amount available on the customer’s account with the Bank is smaller than the minimum amount set for the particular type of deposit at the point of opening.  In such case, the deposit amount is returned to the customer.

5.       The customer has failed to make the transfer or the transferred amount has not been recorded on the customer’s account with the Bank in 10 (ten) banking days from disclosure of the customer’s bank details.

6.       The Bank transfers the deposit amount to the Depositor’s account opened with another financial organization on terms and at rates applied to OUR² option at the date of transfer.

USD transfers by the Bank (OUR) *

Transfer search, change of terms, fulfillment of callback instruction, return of transfer by correspondent bank

AMD 25,000 ***

SWIFT confirmation for effected transfer

AMD 3,000 (VAT included)

Issuance of account statements at the Bank  (VAT included)

For 1 statement in periods set under the RA laws – AMD 0

For additional statement out of periods set under the RA laws, for up to 3-year time limitation – AMD 1,000

For 3-year and longer time limitation (if held by the Bank) – AMD 3,000

Statements to be filed with various institutions (VAT included)

For deposits opened less than 1 month

AMD 5,000

For deposits opened more than 1 month

AMD 3,000

Copies of documents, transaction grounds and other information (VAT included)

For up to 1-month time limitation

AMD 1,800 per document

For up to 1-year time limitation

AMD 3,000 per document

For up to 3-year time limitation

AMD 12,000 per document

For 3-year and longer time limitation (if held by the Bank)

AMD 24,000 per document

Deposit currency structure

Max amount of guaranteed deposit

If you have only AMD deposit with the same bank

AMD 10M

If you have only USD deposit with the same bank

AMD 5M

If you have AMD and USD deposits with the same bank

If AMD deposit is above AMD 5 M

AMD 10M (only AMD deposit is guaranteed)

If AMD deposit is below AMD 5 M

AMD 5 M (AMD deposit is guaranteed totally and USD deposit – to the amount of difference between AMD 5 M and refundable AMD deposit)