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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.

Attention: Interest accrued on your funds shall be computed based on NOMINAL interest rate while ANNUAL INTEREST YIELD will show the income you would have gained in case of re-depositing the accrued interest into your deposit account. The procedure of computation of annual interest rate (Regulation 8-02) can be found  on the website: www.cba.am.

Updated 13.04.2018 | 19:22:27