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Safe Deposit on favorable terms

Safe

Deposit on favorable terms

Choose “Safe” deposit with “ID Bank” CJSC and benefit up to 10%* annual interest rate. You can deposit the amount either with or without the right to replenish. You can get free MasterCard Standard, MasterCard Gold  plastic cards.  

  *In case of placement of a deposit online, interest rates higher than the defined interest rate by 0.5 points in case of AMD deposits and by 0.25 points in case of USD deposts are applied  


  • Interest rate
    up to 10 %
  • Terms
    up to 1096 days
  • Minimum amount
    100 000 AMD
  • Maximum amount
    Not defined


The page was updated 22.07.2020 13:37
"Safe" Deposit

Approved by resolution N 178-L of the
Management Board of “ID Bank” CJSC
as of 14 May, 2020
Applied since 25 May, 2020

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 throughthe 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 tothe 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 "SAFE" DEPOSIT*

1.  Annual interest rates of term deposit “SAFE” attracted from physical entities without the right to replenish:

Annual nominal interest rate
(without the right to replenish)

Frequency of interest payment

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 

31-60 days

-

5.00%

-

1.00%

-

0.25%

-

4.00%

61-90 days

-

5.50%

-

1.50%

-

0.50%

-

4.25%

91-120 days

5.50%

6.00%

1.25%

1.75%

0.25%

0.50%

4.00%

4.50%

121-150 days

6.00%

6.50%

1.75%

2.25%

0.50%

0.75%

4.25%

4.75%

151-180 days

6.25%

6.75%

1.75%

2.25%

0.50%

0.75%

4.50%

5.00%

181-210 days

7.00%

7.50%

2.50%

3.00%

1.00%

1.25%

4.75%

5.25%

211-240 days

7.00%

7.50%

2.50%

3.00%

1.00%

1.25%

5.00%

5.50%

241-270 days

7.50%

8.00%

2.50%

3.00%

1.00%

1.25%

5.25%

5.75%

271-300 days

7.50%

8.00%

3.00%

3.50%

1.25%

1.50%

5.50%

6.00%

301-330 days

7.75%

8.25%

3.00%

3.50%

1.25%

1.50%

5.75%

6.25%

331-365 days

7.75%

8.25%

3.00%

3.50%

1.25%

1.50%

5.75%

6.25%

366-730 days

8.75%

9.25%

4.00%

4.50%

1.50%

1.75%

-

-

731-1096 days

9.00%

9.50%

-

-

-

-

-

-

*In case of placement of a deposit online, interest rates higher than the defined interest rate by 0.5 points in case of AMD deposits and by 0.25 points in case of USD deposts are applied. 

   2. Annual interest rates of term deposit “SAFE” attracted from physical entities with the right to replenish:

Annual nominal interest rate
(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 

91-120 days

5.00%

5.50%

0.75%

1.25%

-

-

3.00%

3.50%

121-150 days

5.50%

6.00%

1.00%

1.50%

-

-

3.25%

3.75%

151-180 days

5.75%

6.25%

1.00%

1.50%

-

0.25%

3.50%

4.00%

181-210 days

6.50%

7.00%

1.75%

2.25%

0.50%

0.75%

3.75%

4.25%

211-240 days

6.50%

7.00%

2.00%

2.75%

0.50%

0.75%

4.00%

4.50%

241-270 days

7.00%

7.50%

2.00%

2.50%

0.50%

0.75%

4.25%

4.75%

271-300 days

7.00%

7.50%

2.50%

3.00%

0.75%

1.00%

4.50%

5.00%

301-330 days

7.25%

7.75%

2.50%

3.00%

0.75%

1.00%

4.75%

5.25%

331-365 days

7.25%

7.75%

2.50%

3.00%

0.75%

1.00%

4.75%

5.25%

366-450 days

8.25%

8.75%

3.50%

4.00%

1.00%

1.25%

-

-


3. Terms and conditions of annual interest rate and service for “Safe” deposits without the right to replenish attracted for 1,097 days and more, and for “Safe” deposit with the right to replenish attracted for more than 451 days and/or deposit exceeding AMD 100,000,000 (one hundred million), USD 200,000  (two hundred thousand) or EUR 200,000  (two hundred thousand) and attracted for 366 days and more and/or deposits exceeding RUB 12.000.000 (twelve million) are defined upon additional agreement.
4.  The amount of deposit with the right to replenish can be replenished without quantitative limitations and as a result of replenishment 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). 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 defined by the Bank at the given moment. The deposit amount may be replenished by both the Depositor and any other person willing to replenish the Depositor’s deposit amount unless otherwise stipulated by the deposit agreement.
5. Minimum amount of the deposit is AMD 100.000 (one hundred thousand), or USD 200 (two hundred), or EUR 200 (two hundred), or RUB 12.000 (twelve thousand) which must be met in order to receive the interest in accordance with the table presented in paragraph 1 and 2 of this information bulletin.
6. The Depositor may place a deposit for the benefit of a third party which acquires the right to manage the deposit from the moment of execution of the first transaction related to the deposit, submission of the first claim to the Bank based on such right, or submission of a written request for such transaction, and the Depositor (the person who invested the deposit amount) will lose its right with respect to the deposit.
6.1. If the third party is an adult and capable physical entity for the benefit of whom the deposit agreement is being made without the knowledge of the latter, the depositor  bears the responsibility for submission of identification documents of such third party with all the legal consequences thereof.
7. Funds received from third parties can also be deposited to the deposit account in the name of the depositor by providing the necessary information on the deposit account unless otherwise specified by the agreement.
8. Interest accrued on the deposit is paid on monthly basis or at the end of term according to the agreement..
9. Irrespective of the currency of the deposit a bank account in AMD is opened.
10. 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 rate of the given currency defined by the Bank at the moment of payment.
11. In case of early withdrawal of the deposit amount or part of it, the interest accrued from the date of accepting the deposit until the day preceding the withdrawal date is re-calculated and the interest on the amount to be returned is calculated at the rate of demand deposit defined for such currency applicable by the Bank.
12. If the amount to be paid to the Depositor exceeds the interest amount previously paid to the Depositor (transferred to the bank account or to the account of other liabilities), the difference is deducted from the returned deposit amount and in case  the amount of received interest is less than the amount to be paid to the Depositor, this difference is paid to the Depositor.
13. Interest defined by the agreement is calculated on the daily balance of the deposit unless otherwise specified by the agreement.
14. Interest accrued on the bank deposit amount is accumulated 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.
15. At the moment of signing the deposit agreement 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 if provided by the agreement. In case of capitalization of interest, the balance of the deposit may exceed the maximum threshold provided for corresponding currencies as set out by this information bulletin.
16. If the last day of the deposit is a non-working day, the deposit amount is returned to the Depositor on the following business day. Moreover, the same interest rate provided by the deposit agreement applies for this non-working day.
17. If any of the branches of the Bank operates on this non-working day, nevertheless it is not considered a working day for the Bank..
18. 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 next nearest longest frequency of payment of interests).
18.1. In case  the given deposit type no longer exists at the Bank at the end of term of the deposit agreement, even if the depositor has previously mentioned about the right of automatic extension of the deposit agreement at the moment of signing the deposit agreement or has submitted a deposit agreement extension application beforehand, the deposit agreement is extended on the terms most corresponding to the terms of such deposit in the same currency and the maximum nominal interest rate determined by the Bank. If there is no such type of deposit in the Bank corresponding to the given term, the deposit agreement is extended on the terms of deposit in the same currency at the highest nominal interest rate with a term maximally close to the given deposit. Moreover, in case  there is no such type of deposit corresponding to the terms of the deposit agreement, the other terms of other deposit agreement (closest to the terms of maturity, such as replenishment/reduction of the deposit amount and other terms) are not considered in case of extension.
18.2. In case  the Depositor’s identification document has been changed, the deposit agreement is extended on the basis of the new identification document..
18.3. At the moment of extension, the depositor may replenish /withdraw the amount of the deposit.
19. If the Depositor doesn’t require return of the deposit after the term of the agreement, the deposit amount is transferred to the Depositor’s account under the terms of demand deposit and interest on the given amount is calculated in accordance with the terms provided for demand deposit for the given currency at the Bank.
20. The Bank does not have the right to unilaterally reduce the interest rates specified by the agreement unless otherwise  stipulated by law.
21. The Bank has the right to unilaterally change the interest rates for the demand deposits and funds available on the banking account by publishing them on www.idbank.am official website of the Bank 15 (fifteen) days before they come into force.
22. Refundability of deposits is guaranteed by the RA Law on “Guarantee of Remuneration of Bank Deposits of Physical Entities":

Remuneration of bank deposits of physical entities is guaranteed by “Deposit guarantee fund of Armenia” in the deposit amounts subject to remuneration, particularly:

Currency

If you hold only AMD denominated deposit with the same bank

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

If you hold Arm. dram and foreign currency denominated deposits with the same bank

If the Arm. 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 AMD 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)

23. 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 
24. Disputes arising within the scopes of the deposit agreement are settled through negotiations between the parties. 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, 7th floor, 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. 
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 if 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.
25. Remote service by the Bank is provided through the IDBanking online system. The order and tariffs on rendering remote service are presented in “Public terms on remote banking services”. 
26. 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. 
27. Deposit account statements are provided to the client at least once a month at a 30-day interval unless other term is defined by the agreement or by law. 
28. 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”.
29. TThe 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”).
30. Extension of “Discount” deposit type is performed according to the terms of “Safe” deposit type without the right to replenish, applicable on the given date by time range.
31. 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։Annual percentage yield calculation.
The annual percentage yield of “Safe” deposit is available: Annual percentage yield of “Safe” deposit, moreover, the annual yield (APY) of the deposit can change depending on the days of the deposit term. The calculation is performed according to the following formula:  
A=∑_(n=1)^N K_n/(1+APY)^(D_n/365
where: 
APY is the annual percentage yield,
A is the initial deposit amount,
ո is the serial number of cash flows against deposit,
N – 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 – 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 – the number of days between the date of opening a deposit and each n-th deposit-related cash flow inclusive. In case the cash flows occur at the moment of opening a deposit, D1=0.
32. 
Examples of annual percentage yield calculation:
Example 1: Deposit without the right to replenish:

Deposit opening date:01.05.2019
Deposit amount: 100,000 AMD
Annual interest rate:  9.50%
Payment of interest at the end of term (not counting the deposit repayment day)
Deposit term: 1,096 days (01.05.2022)
Income tax: 10%
Calculated interest amount:
100,000 x 9.50% : 365 x 1095= 28,500 AMD
  Total calculated interest amount: 28500 AMD
Income tax: 28,500x 10% = 2,850AMD
Interest income received by the depositor: 25,650 AMD


2. Deposit with the right to replenish:

Deposit opening date: 01.05.2019
Deposit amount: 100,000 AMD
Deposit amount replenished by 50,000 AMD on 23.07.2019
Annual interest rate 8.75%
Payment of interest at the end of term (not counting the deposit repayment day)
Deposit term:237 days (24.12.2019)
Income tax: 10%
Calculated interest amount:                       
100,000 x 8.75% : 365 x 2379 = 5,681.5AMD
50,000 x 8.75% : 365 x 154 = 1,846.9 AMD
Total interest amount: 7,527.4AMD
Income tax: 7,527.4 x 10% = 752.7 AMD
Interest income received by the depositor: 6,774.7 AMD

33. The following documents must be submitted to the Bank to place a deposit:
- Identification documents
- Public Services Number or a reference on not having received a PSN
34. 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.
35. 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.
36.  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.
37. 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 22.07.2020 13:59
The following documents should be submitted to the Bank for execution of “Discount” deposit:

  • ID document,

  • Public service number /reference on non-receiving the PSN

The page was updated 20.11.2017 11:40
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.