Important Conditions
Currency
Dependent on the currency of the transaction
Service charge
No tariff is set
Service fee
No tariff is set
Withdrawal
No tariff is set
TERMS
TARIFFS
Escrow Account Holder – Physical person aged 14 and above¹
Beneficiary – Natural person, legal entity, or sole proprietor
Depositing the amount or part of the amount for the acquisition of real estate or a vehicle (hereinafter referred to as Property) into the account as a guarantee for the execution of the transaction
Determined by the currency of the transaction
Not defined
Subject to the terms of the transaction
0.15% of the escrow transaction amount, minimum AMD 20,000, maximum AMD 500,000
The term is determined by the duration of the escrow transaction
10,000 AMD for each additional agreement signed
Fee is not applied — the account is closed by the Bank after the expiration of the Escrow Agreement
0%
According to the Bank’s current “Terms and Fees for Opening and Servicing Current Accounts of Individuals” policy.
1. For individuals aged 14 to 18 applying, parental or guardian consent is also required.
2.In Armenian Drams (AMD) and other currencies accepted by the Bank.
Payments for the acquired Property are made exclusively in Armenian Drams. Payments for the Property in other currencies are made only in cases stipulated by Armenian legislation. If foreign currency has been deposited as collateral for the transaction, then upon presentation of the documents specified in the escrow agreement, currency conversion is carried out at the exchange rates published by the Bank at that time when transferring the amount to the Beneficiary.
3. Opening and servicing an escrow account includes:
- Opening an escrow account at the Bank for the escrow transaction by agreement of the parties to the escrow transaction,
- Depositing transaction funds into the escrow account,
- Drafting the escrow account opening agreement,
- Presentation to the Bank of documents serving as a basis for transferring funds from the escrow account to the Beneficiary according to the escrow account opening agreement,
- Transfer of funds from the escrow account to the Beneficiary or refund to the account holder in case of fulfillment or non-fulfillment of the escrow transaction conditions (as per the escrow account opening agreement).
The commission fee is charged at the time of opening the escrow account, either in cash or non-cash from other accounts of the customer, and is non-refundable if the parties to the escrow transaction refuse the transaction.