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Demand deposit

Demand deposit

Choose “Demand” deposit offered by the Bank! Interest rate of the deposit is accrued to the daily balance.    

  • Interest rate
    up to 1 %
  • Maturity
    Not defined
  • Minimum amount
    100 000 AMD or equal foreign currency
  • Maximum amount
    Not defined

The page was updated 31.05.2018 10:53

Business-Demand deposit

Information guide

1. Annual interest rates applicable for demand deposits attracted from legal entities and private entrepreneurs:


Nominal simple interest rate










2. Minimum deposit amount is AMD 100 000 or equal USD, EUR or RUB which is to be followed to receive interest specified in clause 1 of this bulletin
3. During the term of the deposit agreement the depositor may replenish the amount of the deposit or withdraw a parte thereof, and the interest rate shall apply to the daily balance, unless otherwise provided by the agreement.
4. Interest accrued on the deposit is paid on monthly basis or at the maturity.
5. Upon the request of the depositor the interest amount accrued on the deposit in foreign currency may be paid in the currency of the deposit, in cases other than those stipulated by the CBA. Unless the client requested receipt of the interest amount in the given currency, such interest shall be paid in Armenian drams on the basis of exchange rate applicable by the Bank.
6. Interest due pursuant to this agreement will be accumulated from the day following the date of acceptance of the Deposit and until the day preceding the withdrawal day of the deposit at the maturity or otherwise.
7. On the basis of the written request of the depositor submitted at the moment of deposit agreement execution, the interest accrued on the deposit can be added on the principal amount, at the frequency of payment of the interest specified by the agreement
8. The Bank has the right to unilaterally change the interest rates for the demand deposits and funds available on the banking account by placing 15 (fifteen) days prior announcement on the official website of the Bank.
9. The Parties settle any disputes hereunder by negotiations or in accordance with RA legislation.
10. Copies of extracts on deposit accounts are provided to the clients at least once a month, with 30-day periodicity unless otherwise provided by the law or the agreement.
11. In addition to the above-mentioned, the following points are applied on deposits attracted from private entrepreneurs:
1) Return of deposits is guaranteed by the RA Law on “Guarantee of Remuneration of Bank Deposits of Physical Entities
2) Remuneration of Bank Deposits is guaranteed by the “Deposit guarantee fund” in the following amount:

Remuneration of bank deposits of “ID Bank” CJSC to individuals is guaranteed by “Deposit guarantee fund of Armenia” in the amount subject to remuneration, particularly:


If you hold only a dram denominated deposit with the same bank

If you hold only a foreign currency denominated deposit with the same bank

If you hold dram and foreign currency denominated deposits in the same bank

If the dram deposit amount exceeding five million Armenian drams

If the dram deposit amount doesn’t exceed five million Armenian drams

Maximum amount of guaranteed deposit

10 million Armenian drams

5 million Armenian drams

10 million Armenian drams (only the dram denominated deposit will be guaranteed)

5 million Armenian drams
(the dram denominated bank deposit will be guaranteed entirely, and the foreign currency denominated bank deposit – by size of the difference between five million Armenian drams and the remunerated dram denominated bank deposit)

3) Acting as a tax agent to the Depositor, the Bank has the right to calculate and charge tax on income (10%) from the payment of interests.
4) The Depositor has the right to apply to the financial system mediator in accordance with the RA Law “On Financial system mediator” or to apply to the court (to the appropriate arbitration tribunal in case of availability of arbitration agreement between the client and the Bank) or to the Central Bank of RA.
5) The Bank must provide the conclusive answer to the client within 10 (ten) business days from the moment of receiving the claim of the client. In case the client disagrees with the written conclusive answer of the Bank or in case the client fails to receive any respond within 10 (ten) business days, the Depositor acquires the right to apply to the Financial system mediator within 6 (six) month period. The Bank may not dispute the decisions of the financial system mediator if the value of the property claim doesn’t exceed 500.000 (five hundred thousand) Armenian drams or equal foreign currency.
6) The Annual Percentage Yield (APY), calculated for 365 days for AMD denominated deposit in the amount of AMD 100 000  is  1.005%, excluded income tax


APY –  Annual percentage yield,
A –  is the initial deposit principal amount,
ո – is the consecutive number of the deposit related cash flow,
N – is the last of the deposit related cash flows (including cash flows at the time the deposit was put), after which the deposit agreement expires
Kո – flows of deposit principal and/or capitalized interest and mandatory fees, if any, at the deposit start date and/or during its term.
Dո – is the number of days elapsed from the time the deposit was made till each n-th deposit-related cash flow inclusively.


The page was updated 18.06.2019 15:41
The following documents should be submitted to the Bank for execution of Demand deposit:

  • The person authorized by the Account holder – legal entity must present the following documents for opening (re-opening) account

  • Copy of document on state registration of the account holder

  • Taxpayer identification number or other equal number (for non-resident account holders), if any

  • Copy of document on appointment of person entitled to represent the legal entity without power of attorney (not presented if agreed by the Central Depositary),

  • Copy of identification document of the person representing the legal entity (passport or ID)

  • Original or copy of the document confirming authorities of the person representing the legal entity on the basis of Power of attorney.

The page was updated 29.11.2017 14:05
Attention: The Bank does not bear any responsibility for the inaccuracy of information on the linked web sites, nor does it accept any responsibility for the advertisements therein or possible consequences arising out of use of information provided on the linked web-sites. In case of any discrepancies in the website materials in Armenian, Russian and English languages, the Armenian version is prevailing.