Classic + (works up to 30.06.2023)

General Information

The Bank attracts CLASSIC term deposits from individuals and legal entities under the following conditions:

CLASSIC +
AMD
Minimum 100.000 AMD
Term of deposit placement	367-545 days	546 - 733 days	734-1095 days
Interest payment monthly
Annual interest rate	10%	10.25%	10.5%
percentage yield	10.47%	10.75%	11.2%
Interest payment at the end of term
Annual interest rate	10.25%	10.5%	10.75%
percentage yield	10.25%	10.25%	10.22%

The bank shall provide the depositor with a statement on their deposit account at frequency not exceeding 1 month in the order set by the Deposit Agreement with exception of cases when over the accounting period the account has not been debited or credited, moreover, to provide a statement on the account within 5 days after such request by the depositor at tariffs set by the bank.

ATTENTION!

- “Rossia 1” and “Araratyan” branches do not provide deposit attraction service.
- The deposit can be attracted also through Online Banking or Mobile Banking remote-control systems (details of terms and conditions of service are presented in the information summary of "AEB Online " / "AEB Mobile " systems).

You can get acquainted with the example of deposit interest calculation below

Based on the volume of the deposit, the bank presents a free plastic card to the depositors.
a. ArCa Classic card in any volume
b. In case of AMD 300,000 or equivalent foreign currency: plastic cards of Master Card standard, Master Card Gold, VISA classic, VISA Gold type.

NOTE: INTERESTS ON YOUR DEPOSIT ARE CALCULATED BASED ON THE NOMINAL INTEREST RATE AND THE ANNUAL PERCENTAGE YIELD SHOWS THE AMOUNT OF INCOME YOU WOULD HAVE RECEIVED IN CASE OF ADDING THE RECEIVED DEPOSIT INTERESTS TO THE DEPOSIT AND RECEIVING THE ACCRUED INTEREST AMOUNTS AT DEFINED PERIODICITY. YOU WILL FIND THE ORDER OF CALCULATING THE ANNUAL PERCENTAGE YIELD ON THE FOLLOWING WEBSITE- WWW.AEB.AM

“Classic +” deposit type- term deposit :
Accrued interests aren’t capitalized and are paid to the depositor once a month or during the end of deposit agreement period.
Interest is calculated based on the balance of placed deposit amount.
The interests against the deposit are calculated from the moment the deposit is placed with the bank up to the day preceding its recovery to the depositor.
Should the depositor demand the deposit or any part thereof prior to the term of the Agreement, the calculation of the interest of deposit or any part thereof shall be carried out at 0% annual interest rate, and should the interests be already paid to the Depositor, the Deposit is deemed to be recovered in the size of the paid interest amount.
Should the Depositor fail to receive the interests on the Deposit, no interest shall accrue thereon. Should the Depositor fail to demand the deposit after the term of the Agreement expires, till the deposit is actually demanded, the interests against the deposit are calculated at the rates set forth by the Bank for the monetary means available on the Bank accounts
No amounts can be added to the deposit during validity period of the Agreement.
The Bank cannot unilaterally decrease the interest specified in the Agreement provided that the deposit will be recovered within the term set forth by the Agreement.
The deposit cannot be replenished by third parties.
The authorities of other persons to use and manage the deposit shall be approved should such authorities be issued by a notarized power of attorney or by a written power of attorney made and signed by the depositor in the presence of the Bank’s officer.
In case of contract disputes the depositor shall apply to the Bank in written form and will receive the reply to such request within 10 Business days. In case of disagreement with reply, the depositor has the right to apply to the court or to the Financial System Mediator.
The Deposit is placed with the tenor of minimum 367 days and maximum 1095 days.
The interests payable are subject to tax in accordance with the provisions of section 7 of the RA Law ”On tax on income”.
On the purpose of due diligence of the customer envisaged by RA law on “ Combating Money Laundering and Terrorism Financing”, the bank may request additional documents or other information from the consumer based on <<know your customer> principle, as well as ask the consumer additional questions during oral communication(upon such request)
In compliance with the agreement signed with USA, to find out whether you are a U.S. taxpayer or not, financial institutions may collect additional information about the agreements, contracts, cooperation, membership signed by financial institutions, which may have a direct impact on the consumers (e.g. foreign account tax compliance act (FATCA))
“YOU ARE ELIGIBLE TO COMMUNICATE WITH A FINANCIAL INSTITUTION BY THE MEANS OF COMMUNICATION YOU PREFER – THROUGH POSTAL SERVICES OR ELECTRONICALLY. THE RECEIPT OF INFORMATION ELECTRONICALLY IS THE MOST CONVENIENT. IT IS AVAILABLE ROUND-THE-CLOCK (24/7), IS FREE OF THE RISK OF LOSS OF PAPER INFORMATION AND ENSURES CONFIDENTIALITY”.
“YOUR FINANCIAL INFORMANT” IS AN ELECTRONIC SYSTEM WHICH SEARCHES AND COMPARES THE SERVICES OFFERED TO INDIVIDUALS AND FACILITATES THE SELECTION OF THE MOST EFFECTIVE OPTION FOR YOU - https://www.fininfo.am/compare-deposit.
To place a deposit with the bank, the Depositor shall submit:
Legal entities:
Concluding a general agreement on “ Banking services” and registration of the card tax body for samples of signatures and stamps in accordance with the procedure of “Opening and Servicing of the Bank Account of ARMECONOMBANK OJSC” operating in the bank.

Demands

“Classic +” deposit type- term deposit :
Accrued interests aren’t capitalized and are paid to the depositor once a month or during the end of deposit agreement period.
Interest is calculated based on the balance of placed deposit amount.
The interests against the deposit are calculated from the moment the deposit is placed with the bank up to the day preceding its recovery to the depositor.
Should the depositor demand the deposit or any part thereof prior to the term of the Agreement, the calculation of the interest of deposit or any part thereof shall be carried out at 0% annual interest rate, and should the interests be already paid to the Depositor, the Deposit is deemed to be recovered in the size of the paid interest amount.
Should the Depositor fail to receive the interests on the Deposit, no interest shall accrue thereon. Should the Depositor fail to demand the deposit after the term of the Agreement expires, till the deposit is actually demanded, the interests against the deposit are calculated at the rates set forth by the Bank for the monetary means available on the Bank accounts
No amounts can be added to the deposit during validity period of the Agreement.
The Bank cannot unilaterally decrease the interest specified in the Agreement provided that the deposit will be recovered within the term set forth by the Agreement.
The deposit cannot be replenished by third parties.
The authorities of other persons to use and manage the deposit shall be approved should such authorities be issued by a notarized power of attorney or by a written power of attorney made and signed by the depositor in the presence of the Bank’s officer.
In case of contract disputes the depositor shall apply to the Bank in written form and will receive the reply to such request within 10 Business days. In case of disagreement with reply, the depositor has the right to apply to the court or to the Financial System Mediator.
The Deposit is placed with the tenor of minimum 367 days and maximum 1095 days.
The interests payable are subject to tax in accordance with the provisions of section 7 of the RA Law ”On tax on income”.
On the purpose of due diligence of the customer envisaged by RA law on “ Combating Money Laundering and Terrorism Financing”, the bank may request additional documents or other information from the consumer based on <<know your customer> principle, as well as ask the consumer additional questions during oral communication(upon such request)
In compliance with the agreement signed with USA, to find out whether you are a U.S. taxpayer or not, financial institutions may collect additional information about the agreements, contracts, cooperation, membership signed by financial institutions, which may have a direct impact on the consumers (e.g. foreign account tax compliance act (FATCA))
“YOU ARE ELIGIBLE TO COMMUNICATE WITH A FINANCIAL INSTITUTION BY THE MEANS OF COMMUNICATION YOU PREFER – THROUGH POSTAL SERVICES OR ELECTRONICALLY. THE RECEIPT OF INFORMATION ELECTRONICALLY IS THE MOST CONVENIENT. IT IS AVAILABLE ROUND-THE-CLOCK (24/7), IS FREE OF THE RISK OF LOSS OF PAPER INFORMATION AND ENSURES CONFIDENTIALITY”.
“YOUR FINANCIAL INFORMANT” IS AN ELECTRONIC SYSTEM WHICH SEARCHES AND COMPARES THE SERVICES OFFERED TO INDIVIDUALS AND FACILITATES THE SELECTION OF THE MOST EFFECTIVE OPTION FOR YOU - https://www.fininfo.am/compare-deposit.
To place a deposit with the bank, the Depositor shall submit:
Legal entities:
Concluding a general agreement on “ Banking services” and registration of the card tax body for samples of signatures and stamps in accordance with the procedure of “Opening and Servicing of the Bank Account of ARMECONOMBANK OJSC” operating in the bank.

Accumulated interest՝
	Income tax is not included in the interest
Total accumulated interest՝

Classic + (works up to 30.06.2023)

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