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Safe Deposit on favorable terms

Safe

Deposit on favorable terms

Choose “Safe” deposit with “ID Bank” CJSC and benefit 9.50% 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.   


  • Interest rate
    up to 9.50 %
  • Terms
    up to 1096 days
  • Minimum amount
    100 000 AMD
  • Maximum amount
    Not defined


The page was updated 08.05.2019 11:06
"Safe" Deposit

 

1. Annual interest rates applicable for “Safe” term deposits attracted from physical persons, without the right to replenish.

Annual nominal interest rate
(without the right to replenish)

Frequency of interest payment

Currency

AMD

USD

EUR

RUB

Maturity

Monthly

At maturity

Monthly

At maturity

Monthly

At maturity

Monthly

At maturity

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%

1.50%

2.00%

0.50%

0.75%

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

6.50%

7.00%

1.75%

2.25%

0.75%

1.00%

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%

1.25%

1.50%

5.25%

5.75%

271-300 days

7.50%

8.00%

3.25%

3.75%

1.50%

1.75%

5.50%

6.00%

301-330 days

8.00%

8.50%

3.25%

3.75%

1. 50%

1.75%

5.75%

6.25%

331-365 days

8.00%

8.50%

3.25%

3.75%

1.50%

1.75%

6.00%

6.50%

366-730 days

8.75%

9.25%

4.00%

4.50%

2.00%

2.25%

-

-

731-1096 days

9.00%

9.50%

-

-

-

-

-

-

2. Annual interest rates applicable for “Safe” term deposits attracted from individuals, with the right to replenish

Annual nominal interest rate
(with the right to replenish)

Frequency of interest payment

Currency

AMD

USD

EUR

RUB

Maturity

Monthly

At maturity

Monthly

At maturity

Monthly

At maturity

Monthly

At maturity

91-120 days

5.00%

5.50%

1.00%

1.50%

-

0.25%

3.00%

3.50%

121-150 days

5.50%

6.00%

1.25%

1.75%

-

0.25%

3.25%

3.75%

151-180 days

6.00%

6.50%

1.25%

1.75%

0.25%

0.50%

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%

0.75%

1.00%

4.25%

4.75%

271-300 days

7.00%

7.50%

2.75%

3.00%

1.00%

1.25%

4.50%

5.00%

301-330 days

7.50%

8.00%

2.75%

3.25%

1.00%

1.25%

4.75%

5.25%

331-365 days

7.50%

8.00%

2.75%

3.25%

1.00%

1.25%

5.00%

5.50%

366-450 days

8.25%

8.75%

3.50%

4.00%

1.50%

1.75%

-

-


3. Annual interest rate and the general terms and conditions 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, exceeding AMD 100,000,000 (one hundred million), USD 200,000  (two hundred thousand) or EUR 200,000  (two hundred thousand) and attracted for more than 366 days and/or exceeding 12.000.000 (twelve million)  million RUB are agreed upon and set out additionally.
4. 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 on or before the last 90th day prior to the maturity, at which the interest is calculated at the rate determined for the demand deposits. The deposit amount may be replenished by both the Depositor and any other person, 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); this essential condition must be met in order to receive the interest in accordance with the scales specified in clauses 1 and 2 of this information bulletin.
6. The Depositor may place a deposit for the benefit of the third party. The third party acquires the right to manage the deposit once he/she has executed the first transaction involving the deposit, presented the first claim to the Bank based on such right, or submitted written request for such transaction, and the Depositor (investor) will loose its right with respect to the deposit.
6.1. In case the deposit is executed for the benefit of the third party (capable physical person of a legal age) without the knowledge of the latter, the depositor shall himself bear the responsibility for the presentation of all ID documents of such third party and all the legal consequences thereof.
7. The deposit account may be replenished by any third parties, provided however that some information on the deposit account is provided by such third parties, unless otherwise specified by the agreement.
8. Interest accrued on the deposit is paid on monthly basis or at the maturity, as provided by the agreement.
9. In any case, the Bank opens AMD denominated bank account for deposits in any currency.
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 the CBA. Unless the client requested receipt of the interest amount in the given currency, such interest is paid in Armenian drams on the basis of exchange rate applicable by the Bank.
11. In case of early withdrawal of the deposit amount or some part of it, the interest accrued from the date of accepting the deposit until the day preceding the withdrawal date is re-calculated at the rate of demand deposit set for such currency applicable by the Bank.
12. If the amount of interest received by the Depositor exceeds the amount due to the Depositor (transferred to the bank account or set off against other liabilities), the difference is deducted from the returned principal deposit amount and in case the amount of received interest is less than the amount due to the Depositor, this difference is paid to the Depositor.
13. Interest accrued on the Deposit is calculated on the daily balance unless otherwise specified by the agreement.
14. Interest accrued on the bank deposit amount is accumulated from the day following the date of acceptance of the Deposit and until the day preceding to the withdrawal date of the deposit at the maturity or otherwise.
15. Upon the request of the depositor (made at the time of agreement execution) the interest accrued on the deposit during the term of the deposit agreement may be added (capitalized) to the principal amount of the deposit with the frequency of payment of interest, if provided by the agreement. In case of capitalization of the interest the balance of the deposit may exceed the maximum threshold provided for currencies, as set out by this information bulletin.
16. If the last day of the deposit is a day off the deposit is returned on the first business day following such day off. Moreover, the same interest rate mentioned in the deposit contract is applied for this day off.
17. If this day off is considered a working day for any of the branches of the Bank, nevertheless it should not be considered a working day for the whole Bank.
18. Upon Depositor’s written request the agreement may be extended after its termination under the terms of extension and in order set out by the information bulletin (particularly at the maximum interest rate determined for such currency according to the term of extension of the agreement; in case the frequency of payment of interest is changed and the frequency of such payment is not specified in the new information bulletin, the term of the agreement is extended for the next nearest frequency of payment of interests).
18.1. 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 at the time of termination of the deposit agreement such kind of deposit no more exists, even if the depositor provided statement to extend the agreement after its expiration or selected the execution of agreement with the right to extend. If there is no such kind of deposit in the Bank the deposit agreement shall be extended on the terms of deposit in the same currency the interest rate of which is the maximum and the term of which is maximally close to the given deposit. Moreover, if there is no other kind of deposit corresponding to the terms of the deposit agreement, terms of other deposit agreement (the most close in the terms of maturity), such as replenishment/reduction of the deposit amount and other terms, shall not be considered.
18.2. The deposit agreement will be extended on the basis of the new ID document of the depositor in case this document has been changed.
18.3. At the moment of agreement 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 this agreement the Deposit amount shall be transferred to the Depositor’s account under the terms of demand deposit and interest on the given amount shall be calculated in accordance with the terms provided for demand deposit for the given currency.
20. The Bank shall not have the right to unilaterally reduce the interest rates specified by the agreement unless otherwise  stipulated by the law.
21. The Bank will have 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 www.idbank.am official web site of the Bank.
22. Return of deposits to individuals is guaranteed by the RA Law on “Guarantee of Remuneration of Bank Deposits of Physical Entities”. Remuneration of deposits is guaranteed by “Deposit guarantee fund of Armenia” in the amount subject to remuneration, particularly:

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 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. 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.
24. The Parties settle any disputes around the deposit agreement by negotiations or in case they fail to reach consensus, then disputes are settled in accordance with  RA legislation. 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. The Bank must provide the conclusive answer to the client within 10 (ten) business days from the date of claim. 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 equivalent foreign currency.
25. Extracts from deposit accounts are provided to the Depositor at least on monthly basis with thirty days’ periodicity unless other periodicity is stipulated by the agreement or the law.
26. Commission  will be  charged according to the rates stipulated by the bank, in case of cash withdrawal of those funds that were credited to the  to the depositor’s bank account in non-cash form.
27. Copies of extracts and payment documents, and other information are provided to the Depositor according to the period of limitation of the transaction and according to the tariffs of the provision of extracts of the current accounts (according to the “Tariffs for services rendered to the clients of “ID Bank” CJSC”).
28. Extension of “Discount” type of deposit is carried out according to the terms of “Safe” type of deposit, applicable on the given date, without the right to replenish, according to the term interval.
29. The Annual Percentage Yield (APY), calculated for 366 days for AMD deposit without tax on profit.

 

Monthly

At the maturity

Without the right to replenish

9.11%

9.25%

With the right to replenish

8.57%

8.75%

 

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 number 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 there are 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. When cash flows occur on the deposit start date, D1=0.

30.   How to calculate APY.

Option 1. For deposits without the right to replenish.

Deposit date  01.05.2019թ. (the day of placing the deposit is not considered)

Amount of deposit  100,000 AMD

Annual interest rate  9.50%

Payment of interest  at the maturity  (the day of placing the deposit is not considered)

Maturity 1,096 days (01.05.2022)

Value of the tax on income   10%

Calculated interest:

100,000 x 9.50% : 365 x 1094 = 28,474 AMD

 

Total interest amount  28,474 AMD

Tax on income  28,474 x 10% = 2,847.4 AMD

Interest income received by the Depositor ` 25,626.6 AMD

Option 2. For deposits with the right to replenish:

Deposit date  01.05.2019 (the day of placing the deposit is not considered)

Amount of deposit  100,000 AMD

On 24.07.2019 the deposit is replenished by 50,000 AMD

Annual interest rate   8.75%

Payment of interest  at the maturity (the day of placing the deposit is not considered)

Maturity   450 days (24.07.2020)

Value of the tax on income  10%

Calculated interest

100,000 x 8.75% : 365 x 448 = 10,739.7 AMD

50,000 x 8.75% : 365 x 364 = 4,363 AMD

 

Total interest amount is 15,102.7 AMD

Tax on income  15,102.7 x 10% = 1,510.3 AMD

Interest amount received by the depositor 13,592.4 AMD

ATTENTION! THE INTEREST ACCRUED TO THE DEPOSITED AMOUNT IS CALCULATED ON THE BASIS OF NOMINAL INTEREST RATE. THE ANNUAL PERCENTAGE YIELD (APY) SHOWS THE INCOME YOU COULD EARN IF YOU RE-DEPOSITED THE INTEREST
.


The page was updated 18.06.2019 14:21
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.