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Business Safe

Business Safe

Deposit on favorable terms

Choose “Safe” deposit with "ID Bank" CJSC and benefit 8.25%* annual interest rate.
You can deposit the amount either with or without the right to replenish.
*In case of a bank deposit agreement concluded without the right of termination, if the deposit term exceeds 180 days 0.5 percentage points in case of deposits attracted in AMD and 0.25 percentage points in case of deposits attracted in USD will be added to the interest rates indicated in this table (not applicable to deposits attracted from private entrepreneurs).     


  • Interest rate
    up to 8.25 %
  • Terms
    up to 730 days
  • Minimum amount
    10 000 AMD, 20 USD/EUR, 1 000 RUB    
  • Maximum amount
    100 000 000 AMD, 200 000 USD/EUR, 12 000 000 RUB


The page was updated 09.07.2021 14:48

Business Safe

Deposit on favorable terms

Approved by resolution N 228-L of the
Management Board of “ID Bank” CJSC
as of June 3, 2021
Applied since June 30, 2021

The terms mentioned in the bulletin may have been  amended.
If you are looking through the bulletin on the website of the Bank, please pay attention to the action date of the information bulletin.
If you are looking  through  the bulletin at the premises of the Bank or in a paper  form, please visit  the Bank’s website  www.idbank.am  for detailed information (paying attention to the  action date of the information bulletin), apply to any branch of the Bank or contact  the  Bank’s  Call center  at  010 59 33 33 or  060 27 33 33.

INFORMATION BULLETIN
OF “BUSINESS SAFE” DEPOSIT*

1.Annual interest rates of term deposit “Business Safe” attracted from legal entities and private entrepreneur:

Annual nominal interest rate for deposits without the right to replenish
Interest payment frequency
Currency AMD* USD* EUR RUB
Deposit term Monthly At the end of term Monthly At the end of term Monthly At the end of term Monthly At the end of term
31-90 days - 4.00% - 0.50% - - 4.00% 3.00%
91-180 days 4.50% 5.00% 1.00% 1.25% - - 4.50% 4.50%
181-270 days 6.00% 6.50% 2.00% 2.25% 0.50% 0.75% 5.00% 5.00%
271-365 days 6.50% 7.00% 2.25% 2.50% 0.75% 1.00% - 5.50%
366-730 days 7.25% 7.75% 3.25% 3.50% 1.00% 1.25% - -

*In case of a bank deposit agreement concluded without the right of termination, if the deposit term exceeds 180 days 0.5 percentage points in case of deposits attracted in AMD and 0.25 percentage points in case of deposits attracted in USD will be added to the interest rates indicated in this table (not applicable to deposits attracted from private entrepreneurs).

Annual nominal interest rate for deposits with the right to replenish
Interest payment frequency
Currency AMD* USD* EUR RUB
Deposit term Monthly At the end of term Monthly At the end of term Monthly At the end of term Monthly At the end of term
91-180 days 4.00%  4.50%    0.25%  0.75%  - - 3.00%  3.50% 
181-270 days 5.50% 6.00% 1.25% 1.75% 0.50%  0.75%  3.75% 4.25%
271-365 days 6.00% 6.50% 2.00% 2.50% 0.75% 1.00% 4.50% 5.00%
366-450 days 7.25% 7.75% 3.00% 3.50% 1.00% 1.25% - -

* In case of a bank deposit agreement concluded without the right of termination, if the deposit term exceeds 180 days 0.5 percentage points in case of deposits attracted in AMD and 0.25 percentage points in case of deposits attracted in USD will be added to the interest rates indicated in this table (not applicable to deposits attracted from private entrepreneurs).

2. The Depositor can be a legal entity (including private entrepreneurs) holding a current, card, savings or special bank account with the Bank (except for cases provided by internal legal acts of the Bank), an entity who does not have a status of a legal entity, who has entered into or wants to enter into a Bank deposit agreement with the Bank.
3. The annual interest rate and the terms and conditions  service of deposits without the right to replenish attracted for 731 days and more in AMD, USD, EUR, 366 days and more in RUB, deposits with the right to replenish attracted for 451 days and more in AMD, USD, EUR, and 366 days and more in RUB, and/or deposits exceeding AMD 100,000,000 (one hundred million), USD 200,000  (two hundred thousand) or EUR 200,000  (two hundred thousand), RUB 12.000.000 (twelve million) are defined upon additional agreement. 
4. Minimum deposit amount is AMD 100,000,000 (one million) or USD 2,000 (two thousand) or EUR 2,000 (two thousand) or RUB 120,000 (one hundred and twenty thousand) which must be met in order to receive the interest in accordance with the table presented in paragraphs 1 and 2 of this information bulletin.
5․ The amount of deposit with the right to replenish can be replenished without quantitative limitations and the deposit amount cannot 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) as a result of replenishment. Interest on such amount replenished during the deposit term is accrued according to the interest rate defined by the deposit agreement, except for the last 90 days of the deposit when the interest is calculated at the demand deposit rate applied by the Bank at the given moment. 
6. In case of Agreements concluded without the right of termination the depositor has no right to terminate the Agreement and demand the deposit amount ahead of term provided by the Agreement,  except for deposits attracted from private entrepreneurs with whom no Agreement without the right of termination is being concluded.
7. Interest accrued on the deposit is paid on monthly basis or at the end of term.
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 cases stipulated by RA Central Bank. In case of foreign currency deposits, unless the client requested receipt of interest amount in the given currency, such interest is paid in AMD at the foreign currency exchange purchase rate of the given currency defined by the Bank at the moment of payment (in this case the Depositor must have any type of banking account in AMD in the Bank).
9. In cases stipulated by the Agreement in case of Agreements concluded with the right of termination if the depositor demands the deposit or part of it ahead of term defined by the Agreement the interest amounts shall be re-calculated at the interest rate of the demand deposit in the given currency applied by the Bank at the given moment. In case if the depositor’s request to return the deposit attracted from a Large depositor or part of it the Bank shall return the deposit or part of it within one banking day after 30 days of submission of the request.
10. A large depositor is a legal entity which is not classified as a small and medium business entity according to the RA law on State assistance to small and medium business.
11. The interest amounts previously paid to the Depositor (transferred to the bank account or to the account of other liabilities) are charged from the deposit amount to be returned. 
12. Interest defined by the agreement is calculated on the daily balance of the deposit unless otherwise specified by the agreement.
13․ Interest accrued on the bank deposit amount is accrued for the calendar days within the period  from  the date of acceptance of the Deposit until returning it to the depositor or  until the day which precedes the day of writing off the depositor's account on other grounds.
14. In cases provided with the Agreement or upon the request of the depositor the interest accrued on the deposit during the term of the deposit agreement may be added (capitalized) to the amount of the deposit at the frequency of payment of interest indicated in the agreement. In case of capitalization of interest, the balance of the deposit amount may exceed the maximum threshold provided for corresponding currencies as set out by this information bulletin.
15. Upon Depositor’s request, the term of the deposit agreement may be extended on the maturity day of the deposit under the terms set out by the information bulletin for the given deposit type applied by the Bank at the given moment (particularly at the maximum interest rate determined for such currency according to the term of extension of the agreement; in case of change of frequency of payment of interest when the frequency of such payment mentioned in the previous information bulletin is not specified in the new information bulletin, the term of the agreement is extended for the  nearest  frequency of payment of interests). If the depositor doesn’t request the return of the term deposit amount after the end of the term of the agreement, the deposit amount is transferred to the demand account of the depositor, in accordance with the terms applied on the demand deposit by the Bank at the given moment, unless otherwise stipulated by the Agreement.
16.   The Bank does not have the right to unilaterally reduce the interest rates specified by the agreement unless otherwise  stipulated by law.
17.   The Bank has the right to unilaterally change the interest amounts to be paid against demand deposits and funds available on the banking account by publishing them on the official website of the Bank 15 (fifteen) days before they come into force.
18.   Disputes arising between the parties are settled through negotiations between the parties, or, in case of failure to reach an agreement, in the order defined by RA legislation.
19. The Client has the right to communicate with the Bank through a preferred means of communication: e-mail or regular post. The electronic means of communication is the most comfortable. It is available in 24/7 regime and is free of the risk of losing information in paper as well as ensures confidentiality.
20. Deposit account statements are provided to the client at the interval defined by the agreement which shall not exceed one month.
21. The depositor will be charged a commission fee according to the tariffs defined by the Bank in case of cash withdrawal of those funds that were credited to the depositor’s bank account in non-cash form according to the “Tariffs for bank accounts, transfers and other services rendered by “ID Bank” CJSC”.
22. The tariffs for provision of copies of deposit account statements and payment documents as well as other information are defined according to expiry dates of concluded transactions, in the amounts of tariffs for provision of current account statements (according to the “Tariffs for bank accounts, transfers and other services rendered by “ID Bank” CJSC”). 
23. In case of deposits attracted from private entrepreneurs the following provisions apply in addition to the abovementioned:
1) Refundability of deposits is guaranteed by the RA Law on “Guarantee of Remuneration of Bank Deposits of Physical Entities”.
2) Remuneration of bank deposits of physical entities is guaranteed by “Deposit guarantee fund of Armenia” in the deposit amounts subject to remuneration, particularly:

Remuneration of bank deposits of physical entities of “IDBank” CJSC is guaranteed by “Deposit guarantee fund of Armenia” in the deposit amounts subject to remuneration, particularly: 
Currency structure of deposit If you hold only a bank deposit in AMD in the same bank If you hold only bank deposit in a foreign currency in the same bank If you hold bank deposits both in AMD and in foreign currency in the same bank
If the deposit in AMD is less than AMD 7 million AMD If the deposit in AMD exceeds  AMD 7 million
Maximum amount of guaranteed deposit AMD 16 million AMD 7 million AMD 16 million (only the deposit in ADM is guaranteed) AMD 7 million (the bank deposit in AMD will be guaranteed in full, and the bank deposit in a foreign currency will be guaranteed in the amount of difference between AMD 7 million and the bank deposit in AMD subject to reimbursement)

3) The Bank reserves the right of a tax agent to calculate and pay income tax (10%) from interest received against deposit as defined by law.
4) The Depositor has the right to submit claims arising within the scopes of the deposit transactions to the Financial System Mediator (in an order defined by RA law on “Financial System Mediator”) located at Elite Plaza” Business Center, 7thfloor, 15 Khorenatsi str., Yerevan 0010, Armenia, tel. (+374 60) 70-11-11. Fax (+374 10) 58-24-21, e-mail: info@fsm.am (or, in case of an arbitration agreement between the Bank and the client, to the corresponding arbitration tribunal) or to the RA Central Bank.
5) The Bank is obliged to provide the depositor with a final response within 10 (ten) business days after receipt of complaint-claim. In case of disagreement with the Bank’s final written response or failure to receive any response from the Bank within 10 (ten) business days after receipt of the complaint–claim by the Bank, the depositor reserves the right to submit its claim to the Financial System Mediator within 6 months. Moreover, in case the amount of the property claim does not exceed 500,000 (five hundred thousand) AMD or equivalent in foreign currency, the decisions of the financial system cannot be challenged by the Bank.
24.   ATTENTION – INTEREST ON FUNDS AVAILABLE ON  YOUR ACCOUNT IS CALCULATED BASED ON THE NOMINAL INTEREST RATE. AND THE ANNUAL PERCENTAGE YIELD INDICATES THE INCOME OF THE CLIENT TO BE RECEIVED AS A RESULT OF MAKING MANDATORY DEPOSIT PAYMENTS AND RECEIVING THE EARNED INTEREST AMOUNTS AT DEFINED INTERVALS. THE ORDER OF CALCULATION OF ANNUAL PERCENTAGE YIELD is available at the following link։ Annual percentage yield calculation.
25.   INTEREST ON FUNDS AVAILABLE ON YOUR ACCOUNT ARE CALCULATED BASED ON THE NOMINAL INTEREST RATE. AND THE ANNUAL PERCENTAGE YIELD INDICATES THE INCOME TO BE RECEIVED BY THE CLIENT IN CASE OF INTEREST RECEIVED ON DEPOSIT WERE PLACED BACK AS A DEPOSIT.
A=∑_(n=1)^N K_n/〖(1+APY)〗^(D_n/3
Where:
APY is the annual percentage yield,
A is the initial deposit amount,
ո is the serial number of cash flow against deposit,
N is the last number of cash flows against the deposit (including cash flow at the moment of opening the deposit) after which the deposit agreement term is considered to be expired
Kո is the flows of capitalized interest amounts at the moment of opening a deposit and/or deposit opened during the term of the deposit, as well as mandatory payments if any.
Dո is the number of days between the date of opening a deposit and each n-th deposit-related cash flow inclusive. 
26. The following documents must be submitted to the Bank to place a deposit:
- Identification document of the person acting on behalf of the legal entity
- Identity document in case of P/E depositor.
27. For the purpose of proper study of the client as defined by RA law on “Combating money laundering and terrorism financing” the Bank may require additional documents or information based on “Know Your Client” principle. 
28. According to the agreement with the USA based on the Foreign Account Tax Compliance Act (FATCA), the Bank may collect additional information for the purpose of identification of the fact of the client being a US taxpayer.
29. Account Holder's rights to manage the bank account and funds therein can be limited by a court decision based on applications submitted by judicial acts compulsory enforcement authorities or tax authorities.
30․ Confiscation of funds from the account without the Account Holder’s instruction can be performed by a court decision based on applications submitted by judicial acts compulsory enforcement authorities or tax authorities.

ATTENTION! THE BANK IS CONTROLLED BY THE RA CENTRAL BANK

The page was updated 16.07.2021 12:26
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.