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| CURRENCY | AMOUNT** | 24 MONTHS | Early Withdrawal after 7 Months |
|---|---|---|---|
|
AMD
|
1,000,000 - 300,000,000*
|
10.25%
|
9.50%
|
|
USD
|
3,000 - 1,000,000*
|
4.75%
|
3.25%
|
|
EUR
|
2,000 - 500,000*
|
2.5%
|
1.5%
|
When fixing a term deposit, customers receive a free Mastercard Standard, Mastercard Gold, or Mastercard World Elite for the entire duration of the deposit. You can find the terms and conditions, as well as other tariffs, on each card’s dedicated page.
- Term Deposits can be fixed via the Byblos Mobile app or at the Branches of the Bank.
- Term deposits are attracted in AMD, USD and EUR.
- The amount of the deposit is not changed during the tenor of deposit agreement.
- In case per the depositor’s request the term deposit is returned before maturity or before the emergence of the circumstances, as described in the agreement, the interest payable is calculated at the interest rate, set by the Bank, provided that it does not exceed the interest accrued on the term deposit. In case the interest payable resulting from the early redemption is less than interest paid, the Bank retains the right to debit other accounts of the client or the principal of the term deposit with the difference.
- In case the depositor doesn’t request the amount at the end of maturity or when the circumstances, stipulated by the agreement, emerge, the agreement is considered to be prolonged for the same period at the prevailing interest rate applicable at the renewal date, if nothing else is stipulated by the agreement.
- During the effect of the deposit agreement the interest rate shall not be unilaterally decreased by the Bank.
- At the end of the maturity of term deposit the principal is credited to the current account or demand deposit account as the client chooses.
- Interest is accrued on the term deposit account based on a 365-day (three hundred sixty-five) calendar year and paid at the end of maturity. The accrued interest is credited to the current account and/or demand deposit account of the depositor. The interests of Term deposit in Armenian drams shall be paid in Armenia drams. In case of foreign currency deposits, the interests shall be paid in Armenian drams or in foreign currency based on the Customer’s choice, making necessary currency conversion into AMD at the exchange rate established by the Bank.
- All disputes between the Bank and the client are subject to regulation in the courts of the Republic of Armenia. The claims/request of the client with respect to the servicing of the term deposit agreement can also be submitted to the financial mediator in accordance with the procedure, set in the Law on Financial System Mediator of the Republic of Armenia. The Bank may refuse to dispute the resolutions of the financial mediator if the property claim to the Bank does not exceed 250 000 AMD or its equivalent in any foreign currency and the amount of the transaction does not exceed 500 000 AMD or its equivalent in any foreign currency. It means that the Bank is not able to dispute the resolution of the financial mediator, which satisfies the above-mentioned requirements.
- The Bank acts as the tax agent of an individual depositor while paying the accrued interest according to the TAX Code of the Republic of Armenia, charges income tax in the amount of 10% of income (paid interest) and transfers it to the state budget of the Republic of Armenia.
- Interest is calculated from the day of investment till the day prior to the maturity date.
- Interest is paid either at maturity or in monthly, quarterly, semi-annual or annual installments, as the Customer wishes.
| CURRENCY | AMOUNT** | 1 MONTH*** | 3 MONTHS*** | 6 MONTHS*** | 12 MONTHS*** | 18 MONTHS*** | 24 MONTHS*** |
|---|---|---|---|---|---|---|---|
|
AMD
|
1,000,000 - 300,000,000*
|
5.5%
|
6.75%
|
8.5%
|
9.25%
|
9.5%
|
9.75%
|
|
USD
|
3,000 - 1,000,000*
|
1%
|
2%
|
3.25%
|
4.75%
|
4.75%
|
5%
|
|
EUR
|
2,000 - 500,000*
|
0.25%
|
0.5%
|
1.25%
|
1.75%
|
2%
|
2.75%
|
*For amounts over the set limits (including the sum of all acting deposit amounts), the rates will be negotiable.
**The minimum amount of a term deposit for non-resident overseas clients is USD 30,000 or c/v in other currency.
***In case of monthly, quarterly, half-yearly or yearly interest payments, the nominal interest rate will decrease by 0.25 percentage points, except for 18- or 24-month AMD deposits, the nominal interest rate of which will decrease by 0.5 percentage points.
In the event of early maturity, the recalculation of all interests shall be made based on the effective interest rate set for Easy save account.
|
Currency |
Interest rate
|
|
AMD |
3.75% |
|
USD |
0.5% |
|
EUR |
0.1% |
The interest on funds in your account is calculated on the basis of the nominal interest rate. The Annual Percentage Yield (APY), meanwhile, shows how much income you would earn if the interest were to be compounded to your deposit. APY is the same as nominal interest rate.
| Title | Tariffs* |
|---|---|
|
Statements of account charges
|
|
|
Monthly
|
free
|
|
Duplicate up to 6 months**
|
3,000
|
|
Duplicate over 6 month**
|
6,000
|
|
Certificate of balance related to accounts or loans**
|
3,000
|
|
Validation of Internal proxy**
|
5,000
|
|
Bank confirmation of information for audit purposes**
|
10,000
|
|
Cash deposit into accounts (AMD/USD/EUR)
|
0%
|
|
Exchange or cash deposit of EUR 500 on an account
|
1%
|
|
Cash withdrawal from account against cash credits (deposits) for AMD/USD/EUR
|
0%
|
|
USD cash withdrawal from account against non cash credits
|
0.5%
|
|
EUR cash withdrawal from account against non cash credits
|
1%
|
|
AMD cash withdrawal from account against non cash credit
|
0.2%
|
|
Exchange of worn out Foreign Currencies quoted by the bank
|
3%
|
|
Exchange or cash deposit of USD 5, 10, 20, 50 banknotes issued before 2004 and USD 100 banknotes issued before 2009***
|
1%
|
|
Withdrawal of USD 5, 10, 20, 50 banknotes issued before 2004 and USD 100 banknotes issued before 2009
|
0%
|
*Tariffs are presented in AMD
**VAT included
***No fee will be charged from the Bank's customers when depositing a total of up to USD 1000 per day in said banknotes.
Note 1: GBP banknotes issued earlier than 1 January 2016 will not be accepted by the Bank.
Note 2: For cash withdrawals of AMD 20 million and USD/EUR 30,000 or more, customers need to notify the Bank at least 2 business days in advance. If prior notice is not provided, the Bank reserves the right not to execute the transaction.
Restricting the account-holder to handle the balance of the account, as well as the debiting of the account without the instruction of the account-holder is possible under a court order based on the decision of the Service for Compulsory Enforcement of court decrees or the tax authorities․
According to the law of the Republic of Armenia “On Combating Money Laundering and Terrorism Financing” and for the proper investigation of clients' profile, the Bank can obtain additional documents or other information as per the Know Your Customer principals, as well as ask additional questions during verbal communication (if need be).
According to an agreement with the United States regarding the Foreign Account Tax Compliance Act (FATCA), the Bank may request or gather additional information in order to identify the Depositor’s status as a US taxpayer.
In accordance with the requirements of the Common Reporting Standard (CRS) established by the Organization for Economic Cooperation and Development (OECD), the Bank may collect additional information to determine whether you are a tax resident of any foreign country or territory.
Information about deposits are also available on the website of Your Financial Informant (www.fininfo.am), which is an electronic platform that helps compare services offered to individuals and facilitates the selection of the most efficient option for you.
Dear Depositor,
The guarantor of your deposits is the Deposit Guarantee Fund (hereinafter referred to as the Fund).
The address of the Fund: 0010, Yerevan, 15 M. Khorenatsi, Elite Plaza business complex, office 2-A5
Tel: +374010 583514
Website: www.adgf.am
All the definitions within this Notice are in compliance with the definitions of the Law of the Republic of Armenia “On Guarantee of Compensation for the Bank Deposits of Individuals” (hereinafter the Law).
Your guaranteed deposit is subject to compensation in the following events:
- If the Bank is recognized as insolvent in accordance with the legislation of Republic of Armenia and the fact of incapacity to repay the deposits, within the terms defined by the agreement and the law, is approved by the Board resolution of the Central Bank of the Republic of Armenia (hereinafter the Central Bank); or
- If the bank in accordance with the procedure defined by the legislation of Republic of Armenia is recognized bankrupt (hereinafter referred to as the Insolvent Bank).
Limits of guaranteed deposits are as follows:
|
The currency structure of the deposit |
If you have a deposit only in AMD, within the same bank |
If you have a deposit only in foreign currency, within the same bank |
If you have deposits both in AMD and in foreign currency within the same bank |
If you have deposits both in AMD and in foreign currency within the same bank |
|
If the deposit is more than AMD 7 million |
If the deposit is less than AMD 7 million |
|||
|
The maximum amount of the deposit guarantee |
AMD 16 million |
AMD 7 million |
AMD 16 million (only the deposit in Armenian drams is guaranteed) |
AMD 7 million (the deposit in Armenian drams is fully guaranteed and deposit in foreign currency is guaranteed in the amount of the difference between 7 million Armenian drams and the guaranteed deposit in Armenian drams) |
All your deposits in Armenian drams in the same Bank are deemed to be a single deposit in Armenian drams, except for unguaranteed banking deposits, and all your deposits in foreign currency in the same Bank are deemed to be a single deposit in foreign currency, except for the unguaranteed banking deposits.
If you have a separate banking deposit in the insolvent bank and at the same time you are an owner of joint banking deposit in the same bank, you are guaranteed for the sum of your separate banking deposit and your portion of the joint banking deposit - in accordance to the procedure and the amount stipulated in the Law.
If you have an obligation towards the insolvent bank, the compensated amount is calculated based on the positive difference between your banking deposit and the obligation - in accordance to the procedure and the amount stipulated in the Law.
The joint banking deposit of two or more depositors is considered separate deposit of each depositor in the portion defined by the agreement. If the portions of the depositors of the joint banking deposit are not defined in the agreement, the joint deposit is equally divided between the depositors.
The bank deposit is compensated only in Armenian drams. The dram equivalence of banking deposit in foreign currency is determined by the currency market average exchange rate published by the Central Bank on the day the compensation event has occurred.
Your banking deposit is not compensated if on the date of compensation occurrence the deposit is less than 1000 Armenian drams.
Your banking deposit is unguaranteed if:
a) you and (or) a family member are a manager of the respective bank,
b) you and (or) a family member hold significant a share in the respective bank,
c) you, as an owner (co-owner) of the deposit waive your right to the respective portion of the deposit,
d) your deposit has been qualified as proceeds generated from criminal activity unless you prove to the contrary,
e) your deposit has been placed with the respective bank at an interest rate exceeding by 1.5 times the interest rate stipulated by the public agreement of the bank for similar deposits,
f) your deposit is placed with a branch of the respective bank established outside the Republic of Armenia.
Within three days following the day of compensation event the Fund publishes the announcement on the compensation event. Within thirty days following the day of compensation event the Fund through the insolvent bank or any other bank starts the process of compensation of your deposits. The process starts upon the posting of the additional announcement on compensation by the Fund through the means of Mass Media. You may file a written claim no later than within one year period following the day of compensation event. If you don’t file a written claim within the mentioned period the Fund will not compensate your guaranteed deposit. The Fund must pay the compensations claimed by the depositors within three months period following the filing of the written claim except in the cases stipulated by the Law.
After the compensation of the guaranteed deposit your monetary claim against the insolvent bank is deemed to be satisfied in proportion of the repaid amount. Any outstanding amount in excess of the maximum repayment limit is deemed to be the liability of the insolvent bank to you.
For smooth processing of the compensation of your deposit it is recommended to immediately inform the bank about any changes in the data (ID/passport details, details of Social Card, address, telephone number, etc.) provided to the bank.
