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Business Safe

Business Safe

Deposit on favorable terms

Choose “Safe” deposit with "ID Bank" CJSC and benefit 8.00% annual interest rate.
You can deposit the amount either with or without the right to replenish.    


  • Interest rate
    up to 8.25 %
  • Terms
    up to 730 days
  • Minimum amount
    1 000 000 AMD, 3 000 USD/EUR, 120 000 RUB    
  • Maximum amount
    100 000 000 AMD, 200 000 USD/EUR, 12 000 000 RUB


The page was updated 30.05.2019 09:23

Business Safe

Deposit on favorable terms

1. Annual interest rates applicable for “Business Safe” term deposits attracted from legal entities and private entrepreneurs, without the right to replenish. 

Annual nominal interest rate

(without the right to replenish)

Frequency of payment of interests

Currency

Armenian dram

US dollar

EUR

RUB

Maturity

Monthly

At the maturity

Monthly

At the maturity

Monthly

At the maturity

Monthly

At the maturity

31-60 days

-

4.00%

-

0.50%

-

0.25%

-

4.00%

61-90 days

-

4.50%

-

1.00%

-

0.50%

-

4.25%

91-120 days

4.50%

5.00%

1.00%

1.50%

0.50%

0.75%

4.00%

4.50%

121-150 days

5.00%

5.50%

1.25%

1.75%

0.50%

0.75%

4.25%

4.75%

151-180 days

5.50%

6.00%

1.25%

1.75%

0.75%

1.00%

4.50%

5.00%

181-210 days

6.00%

6.50%

2.00%

2.50%

1.00%

1.25%

4.75%

5.25%

211-240 days

6.00%

6.50%

2.00%

2.50%

1.00%

1.25%

5.00%

5.50%

241-270 days

6.50%

7.00%

2.00%

2.50%

1.25%

1.50%

5.25%

5.75%

271-300 days

6.50%

7.00%

2.75%

3.25%

1.50%

1.75%

5.50%

6.00%

301-330 days

7.00%

7.50%

2.75%

3.25%

1.50%

1.75%

5.75%

6.25%

331-365 days

7.00%

7.50%

2.75%

3.25%

1.50%

1.75%

6.00%

6.50%

366-730 days

7.75%

8.25%

3.50%

4.00%

2.00%

2.25%

-

-


 

2. Annual interest rates applicable for “Business Safe” term deposits attracted from legal entities and private entrepreneurs, with the right to replenish.  

Annual nominal interest rate

(with the right to replenish)

Frequency of payment of interests

Currency

Armenian dram

US dollar

EUR

RUB

Maturity

Monthly

At the maturity

Monthly

At the maturity

Monthly

At the maturity

Monthly

At the maturity

91-120 days

4.00%

4.50%

0.50%

1.00%

-

0.25%

3.00%

3.50%

121-150 days

4.50%

5.00%

0.75%

1.25%

-

0.25%

3.25%

3.75%

151-180 days

5.00%

5.50%

0.75%

1.25 %

0.25%

0.50%

3.50%

4.00%

181-210 days

5.50%

6.00%

1.50%

2.00%

0.50%

0.75%

3.75%

4.25%

211-240 days

5.50%

6.00%

1.50%

2.00%

0.50%

0.75%

4.00%

4.50%

241-270 days

6.00%

6.50%

1.50%

2.00%

0.75%

1.00%

4.25%

4.75%

271-300 days

6.00%

6.50%

2.25%

2.75%

1.00%

1.25%

4.50%

5.00%

301-330 days

6.50%

7.00%

2.25%

2.75%

1.00%

1.25%

4.75%

5.25%

331-365 days

6.50%

7.00%

2.25%

2.75%

1.00%

1.25%

5.00%

5.50%

366-450 days

7.25%

7.75%

3.00%

3.50%

1.50%

1.75%

-

-


3. Annual interest rates and terms of service of deposits without the right to replenish denominated in AMD, USD and EUR, attracted for 731 days and more, RUB denominated deposits attracted for 366 days and more; deposits with the right to replenish denominated in AMD, USD and EUR attracted for 451 days and more, RUB denominated deposits attracted for 366 days and more, and/or deposit exceeding AMD   100 000 000 (one hundred million), USD 200 000 (two hundred thousand), EUR 200 000 (two hundred thousand), RUB 12 000 000 (twelve million) shall be agreed additionally.
4. Minimum deposit amount is AMD 1 000 000 or USD 2 000 or EUR 2 000 or RUB 120 000, which is to be followed to receive interest specified in clause 1 or 2 of this bulletin.
5. Periodicity of replenishment of the deposit amount during the due date of the deposit agreement is not limited, and the deposit amount due to such replenishment may not exceed AMD 100 000 000 (one hundred million), USD 200 000 (two hundred thousand), EUR 200 000 (two hundred thousand), RUB 12 000 000 (twelve million). Interest on such replenished principal is accrued according to the interest rate set out by the deposit agreement, except for cases where the deposit is replenished within the last 90 days prior to the maturity, at which the interest shall be calculated at the rate determined for the demand deposits.
6. Interest accrued on the deposit is paid on monthly basis or at the maturity.
7. Bank account in Armenian drams is opened for deposits in any currency.
8. 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, except for those cases 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.
9. In the event of prior withdrawal of the deposit amount interest shall be re-calculated at the rate of demand deposit set for such currency
10. In case of requesting deposit withdrawal before the term ends,  if the amount of interests received by the Depositor exceeds the amount due to the Depositor (transferred to the bank account or set off against other liabilities), the difference shall be deducted from the returned principal deposit amount and in case the amount of received interests is less than the amount due to the Depositor, such difference is paid to the Depositor. 11. Interest accrued on the Deposit is calculated on the daily balance unless otherwise specified by the agreement.
12. Interest due pursuant to this agreement is 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.
13. Upon the depositor’s request expressed at the moment of agreement execution the interest accrued on the deposit during the term of the deposit agreement may be added to the principal amount of the deposit with the frequency of payment of interest, if stipulated by the agreement.
14. Upon Depositor’s written request the agreement may be extended after termination, according to the rates applicable by the Bank (particularly, at the maximum interest rate applicable for the extended term of deposit agreement in the same currency; and in case of changing the frequency/periodicity of payment of interest where the frequency of payment of interest provided by the previous information bulletin is not stipulated in the latest (applicable) one, the term of the deposit agreement will be extended for the most close long frequency).  If the Depositor doesn’t require return of the deposit after the term of this agreement the Deposit amount will be transferred to the Depositor’s account under the terms of demand deposit and interest on the given amount will be calculated in accordance with the terms provided for demand deposit.
15. The Bank doesn’t have the right to unilaterally reduce the interest rates specified by the agreement unless otherwise stipulated by the law.
16. 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.
17. The Parties settle any disputes hereunder by negotiations or in accordance with RA legislation.
18. Extracts from deposit accounts are provided to the Depositor at least once a month with thirty-day periodicity unless other periodicity is stipulated by the agreement or the law.
19. Copies of extracts and payment documents, and other documents are provided to the Depositor according to the tariffs established by “ID Bank” CJSC  (according to the «Tariffs for services rendered to the clients of “ID Bank” CJSC”).
20. For deposits attracted from private entrepreneurs, in addition to the above-mentioned, the following points will be applied:
20.1. Return of deposits to individuals is guaranteed by the RA Law on “Guarantee on Remuneration of Bank Deposits for Physical Entities”

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:

Currency

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 with the same bank

If the dram deposit amount exceeds five million Armenian drams

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

Maximum amount of guaranteed deposit

10 million Armenian dram

5 million Armenian dram

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 the size of the difference between five million Armenian drams and the remunerated dram denominated bank deposit)   

20.2. Remuneration of deposits is guaranteed by “DEPOSIT GUARANTEE FUND OF ARMENIA” in the amount subject to remuneration, particularly:
20.3. Acting as a tax agent to the Depositor, the Bank shall have the right to calculate and charge tax on income (10%) from the payment of interests.
20.4. 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.
20.5. 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 doesn’t 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.
20.6. The Annual Percentage Yield (APY), calculated for 366 days for AMD 1 000 000 without income tax:

 

Monthly

At the maturity

Without the right to replenish

8.03%

8.25%

With the right to replenish

7.25%

7.75%


   բանաձև.png

where:
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 15:39
The following documents should be submitted to the Bank for execution  of the 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 14:02
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.