Classic + (Valid up to 30.06.2025)

1. “Classic +” deposit type- term deposit
2. The Deposit is placed with the tenor of minimum 367 days and maximum 1095 days.
3. Accrued interests aren’t capitalized and are paid to the depositor once a month or during the end of deposit agreement period.
4. Interest is calculated based on the balance of placed deposit amount.
5. 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.
6. In the event that it is required to repay the Deposit or a part of it before the expiry of the term of the Deposit, instead of the interests specified in the contract for the Deposit or the required part, interests are calculated at the rate of 0% per annum, and if the interests specified in the contract has already been paid to the Depositor, then the Deposit is considered to be returned in the amount of the interest paid.
7. 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 Deposit Refund Period expires, the interests against the deposit are calculated at the rates set forth by the Bank for the monetary means available on the Bank accounts till the Deposit is actually demanded.
8. No amounts can be added to the deposit during validity period of the Agreement.
9. 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.
10. The bank shall provide the investor (depositor) with a statement on their deposit account at frequency not exceeding one month in the manner set by the Deposit Agreement or in the manner specified by the depositor’s application with the exception of cases when over the accounting period the account has not been debited or credited, moreover, to provide an account statement within 5 days after submitting such a request by the depositor at the Tariffs set by the bank.
11. 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.
12. 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 in accordance with the law.
13. The bank acts as a tax agent for individual clients. Interest paid on deposits is subject to taxation according to the provisions of Section 7 of the RA Tax Code
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 - www.fininfo.am/avand

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.