The bank shall not decrease the interest rate set for any CONVENIENT-NEW deposit at its sole discretion, unless otherwise be prescribed by the law.
The periodicity of payment of interests shall be set by term deposit agreement: monthly or at the end of the term.
Interest accrued on deposits is paid exclusively in Armenian Drams irrespective of the currency of the deposit. Interest accrued on foreign currency deposits will be converted into Armenian Drams at the respective average exchange rate fixed in the currency market as announced by the Central Bank of RA on the date of payment. Interest accrued on attracted deposits are paid in cash or non-cash.
Should a depositor request withdrawal of the deposit or a part thereof before the end of the term set by CONVENIENT-NEW deposit agreement, instead of the interest rate set by the term deposit agreement, interest on the deposit or a part thereof shall accrue and be paid at a rate fixed by the bank for demand deposits at the time of receipt of such request, and should the interest set by the term deposit agreement be already paid, the deposit shall be deemed withdrawn in the amount of interest accrued and paid to the depositor in excess of interest on demand deposits. Should the depositor request withdrawal of a part of the deposit before the end of the term set by the term deposit agreement, interests set by CONVENIENT-NEW term deposit agreement shall continue to accrue on the outstanding balance of the deposit.
Should withdrawal of a deposit or a part thereof be requested within the period of prolongation of the CONVENIENT-NEW deposit agreement, the interest stipulated in the deposit agreement shall be paid for the preceding period(s) and the interest for the given period shall be calculated and paid according to paragraph above.
Should the deposit not be withdrawn after expiry of term deposit agreement, such agreement shall be deemed to be prolonged, at depositor's choice:
1. for a similar period (including maximum three times following the expiry of the term of each prolonged deposit) under the terms existing in the bank for the given deposit type at the moment of prolongation, or
2. under the terms set by the bank for demand deposits, unless otherwise be prescribed by the term deposit agreement.
In case of non-receipt of the deposit interest within the terms set by the term deposit agreement, no further interest shall accrue on such interest.
Should the deposit be placed for 274 days or longer or be prolonged for a term no shorter than the aforementioned, the Depositor may supplement the Deposit only by the 180th day preceding the expiry of the (prolonged) term of the Deposit and only with amounts not to exceed the Deposit balance existing at the moment of placement (prolongation). Interest shall accrue on amounts added to the Deposit at the rates and conditions of interest accrued on the Deposit. No amounts shall be added to the Deposit in case of placement for a term less than 274 days, and in case of prolongation the amounts shall be added only on prolongation day and the amounts shall not exceed the Deposit balance. Should the Depositor request repayment of a part of the Deposit after adding amounts to the Deposit, then shall be primarily repaid amounts added to the Deposit in reverse timing order, and the demand interests set by article 2.5 of this Agreement shall accrue from the day following the date of adding them to the Deposit to the day preceding the date of its prepayment to the Depositor.