1. “Simple” deposit type- term deposit.
2. The deposit is placed for a minimum period of minimum of 367 and a maximum of 545 days.
3. The Depositor cannot add additional amounts to the Depositor, as well as cannot reduce the Deposit. In case of a part of a deposit being requested, the Deposit is subject to full repayment.
4. Accrued interests aren’t capitalized and are paid to the depositor monthly or at the end of deposit agreement period.
5. Interests are calculated based on the balance of placed deposit amount. The calculation is made based on the actual number of days in a year: 365 days, and 366 days for a leap year.
6. Interest amounts shall accrue from the day the Deposit is placed with the Bank to the day preceding the date of its repayment to the Depositor.
7. The interest defined by the deposit agreement and Deposit recalculation interest rate cannot be unilaterally reduced in Deposit recovery term specified in the agreement.
8. In case of an early withdrawal of the Deposit, instead of the interest amount specified in Clause 1 of summary, interest is calculated and paid on the Deposit at the recalculated interest rate specified in Clause 1.1 of summary. If the interest amount specified in Clause 1 of summary has already been paid, the Deposit is considered repaid in the amount of the excess interest calculated and paid to the Depositor beyond the recalculated interest rate.
9. Should the Deposit not be demanded after the expiry of the term of the Agreement, until the deposit is being actually demanded, the interests on the Deposit will be calculated at the rates set forth by the Bank for the monetary funds available on bank accounts.
10. The bank shall provide the Investor (Depositor) with a statement on their deposit account at the periodicity specified in the Agreement, which should not exceed a month, through the method of communication specified in the Deposit Agreement or in 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 such a request has been submitted by the depositor at the Tariffs set by the bank.
11. The deposit cannot be supplemented by third entities.
    - 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 the Depositor at the bank approved 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 receive a reply to such request within 10 business days. In case of disagreement with the 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. "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".
15. "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.

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

• Identification document,
• Document including the public service number or a certificate of failure to obtain a public services number

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)).

Depending on various circumstances, additional documents and information may be required from customers.