1. The bank shall not decrease at its sole discretion the interest rate applied to the placed deposit, should otherwise be prescribed by the law
2. The periodicity of payment of interests shall be set by the term deposit agreement: monthly or at maturity.
3. Interests accrued on the placed deposits are paid exclusively in Armenian Drams irrespective of the currency of the placed deposit. Interests accrued on foreign currency deposits shall 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. Interests accrued on attracted deposits are paid in cash or non-cash as per depositor's request.
4. Should the depositor request repayment of the deposit or a part thereof before the maturity set by the term deposit agreement, instead of the interests set by the term deposit agreement interests 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 interests set by the term deposit agreement be already paid, the deposit shall be deemed repaid in the amount of interests accrued and paid to the depositor in excess of interests on demand deposits. Should the depositor request repayment of the part of the deposit before the maturity set by the term deposit agreement, interests set by the term deposit agreement shall continue to accrue on the outstanding balance of the deposit.
5. Should a repayment of the deposit or a part of it be requested within the period of prolongation of the 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.
6. Should the deposit not be withdrawn within the terms set by the term deposit agreement, this agreement shall be deemed to be prolonged by such a choice of the depositor.
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 terms set by the bank for demand deposits, should otherwise be prescribed by the term deposit agreement.
7. In case of non-receipt of the deposit interests in terms set by the term deposit agreement, no further interests shall accrue on such interests.
8. 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 shall accrue from the day following the date of adding them to the Deposit to the day preceding the date of its premature repayment to the Depositor.