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Procedure of Calculation and Payment of Interest on Deposits

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  • Interest will be calculated daily on actual deposit balance, using a straightforward method, for the entire period of deposit agreement. The interest rate for each day in a year will be calculated as a ratio of 1/365, for leap year - 1/366.
  • Interest rate will be accrued starting the next day of depositing your funds until the last but one day of deposit withdrawal.
  • Interest accrued will be paid in cash and non-cash manner:
  • In case of RA residents: only in Armenian drams (interest on foreign currency deposits is also payable in Armenian drams based on the bank’s non-cash FX buying rate set as of the payment day).
  • In case of non-residents: in the currency of placement of funds.
  • At your choice, interest amount will be paid by using the following options:
    • Regular payment of interest, under which the interest accrued on the deposit  will be paid to you according to mutually agreed schedule, or
    • Interest payment at the end of the deposit tenure, under which the interest accrued on the deposit will be paid at the end of the deposit agreement (interest will be paid together with deposit principal amount).
Updated 28.09.2017 | 22:42:42