Time Deposit with Replenishment

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At the option of the depositor, the Deposit term may be automatically extended upon expiration of the deposit agreement. In this case, the Deposit Agreement term

is extended for the same term and currency, under the terms and conditions in effect for the given deposit type at the time of extension and at the interest rate in effect for the given deposit type at the Bank. If otherwise provided for in the terms and conditions of the relevant deposit type, those terms shall apply. If the given deposit type is terminated at the Bank, the Agreement shall not be extended and the deposit amount shall be transferred to the depositor’s Bank Account opened in the Bank specified in the Agreement at the end of the term. The Deposit Agreement shall be extended by assigning a new code to the Agreement without concluding a new Agreement.

The interest rate specified in the Agreement for the Deposit shall not be subject to change during the contractual term.

Funds from third parties shall be credited to the Deposit Account in the name of the depositor, indicating the necessary account data, unless otherwise provided for in the Agreement. Moreover, it is assumed that the depositor, by providing such persons with the necessary information about his deposit account, has agreed to receive funds from him.

The deposit may be returned before the term specified in the deposit agreement. In case of returning the deposit before the term of the deposit agreement at the request of the depositor, interest is recalculated: for deposits with a term of 31-366 days in the case of Armenian drams 4%, in the case of USD/EUR/RF ruble currencies 0.5% per annum, for deposits with a term of 367-550 days in the case of Armenian drams 7%, in the case of USD 2%, in the case of EUR 1%, in the case of RF ruble 0.5% per annum, unless otherwise provided by the agreement, by deducting from the Deposit amount the interest already paid, if any.

The deposit is with additional deposits and without withdrawals. Deposit deposits can be made at any branch of the Bank.

The procedure established by the Law of the Republic of Armenia 'On Guaranteeing Compensation for Bank Deposits of Individuals' is available here.

You can find out the terms and conditions of remote maintenance services here.

Communication with the bank: YOU HAVE THE RIGHT TO COMMUNICATE WITH THE FINANCIAL ORGANIZATION IN YOUR PREFERRED WAY: BY POSTAL OR ELECTRONIC. RECEIVING INFORMATION ELECTRONIC IS THE MOST CONVENIENT. IT IS AVAILABLE 24/7, FREE FROM THE RISK OF LOSS OF PAPER INFORMATION AND ENSURES CONFIDENTIALITY.

In accordance with the agreement signed with the United States based on the Foreign Account Tax Compliance Act (FATCA), the Bank may collect additional information to determine the Customer's US taxpayer status.

For the purpose of due diligence of the customer as defined by the RA Law "On Combating Money Laundering and Financing of Terrorism", the Bank may request additional documents or other information from the Customer based on the "Know your customer" principle, as well as ask additional questions to the consumer during verbal communication (if such a request exists).

In compliance with the Bank’s obligations under the legislation of the Republic of Armenia, including the RA Tax Code, the Common Reporting Standard (CRS) published by the Organisation for Economic Co-operation and Development (OECD), and/or other international treaties, the Bank shall provide the state and/or local self-government bodies of the Republic of Armenia and/or competent foreign authorities (hereinafter referred to as the 'Authorized Body') and/or entities designated by the latter with information constituting banking secrecy and personal data of the non-resident Customer, to which the Customer hereby gives their unconditional consent.