Classic + (Valid up to 31.12.2023)

1. “Classic +” deposit type- term deposit :
2. Accrued interests aren’t capitalized and are paid to the depositor once a month or during the end of deposit agreement period.
3. Interest is calculated based on the balance of placed deposit amount.
4. 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.
5. 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.
6. 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
7. No amounts can be added to the deposit during validity period of the Agreement.
8. 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.
9. The deposit cannot be replenished by third parties.
10. 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.
11. 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.
12. The Deposit is placed with the tenor of minimum 367 days and maximum 1095 days.
13. The interests payable are subject to tax in accordance with the provisions of section 7 of the RA Law ”On tax on income”.
14. The deposits are guaranteed according to RA Law “Guaranteeing the Recovery of Deposits of Individuals”

• In case of bank deposits in AMD, the deposit is guaranteed for AMD 16 mln.
• In case of deposits in foreign currency, the deposit is guaranteed for AMD 7.0 mln.
• In case of bank deposits both in AMD and in foreign currency: if AMD deposit exceeds AMD 7.0 mln, only the AMD bank deposit is guaranteed up to AMD 16 mln.
• In case of bank deposits both in Armenian drams and in foreign currency: if AMD deposit is smaller than AMD 7.0 mln, the AMD bank deposit is guaranteed in full and the foreign currency is guaranteed for the balance of AMD 7.0 mln and recovered AMD deposit.

15. 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)

16. 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))

17. “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”.

18. “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.

19. To place a deposit with the bank, the Depositor shall submit:

• Identification document,
• Document including the public service number (for the RA citizens),
• Additional documents and information may be required due to various circumstances.