Home » Services » Deposits for natural person

Deposit «Convenient»

Information Bulletin of "Convenient" deposit

General conditions

Informational bulletin
Deposit product “Convenient”
General conditions
Term deposit with the possibility of partial recall, payment of the interests monthly or at the end of the term and with the possibility of granting overdraft.
Deposit validity			01.01.12 – 31.12.12 including
Deposit placement period			91-180 days	181-270 days	271-364 days	365 days
Annual interest rate		AMD	10 %	11 %	11.5 %	12%
		USD	7 %	7.5 %	7.5 %	8 %
		EUR	3%	4 %	5%	6%
Minimum amount of deposit		AMD	100 000
		USD	300
		EUR	300
Maximum period of deposit placement			365 days
The deposit is designed for resident physical persons.
The payment of interests is realized by the depositor’s request: monthly or at the end of the term.
Term deposit with the possibility of recall of the part of the amount. It is possible the recall of the partial amount of the placed deposit to the amount of the 50% from the 91-th day of the deposit contract validity.
In the case of partial recall of the deposit interest will be calculated at an interest rate established for the period before the partial recall of the deposit. In case of partial recall of the deposit there is valid the interest rates given below for the partial recalled amount days.
Quantity of partially recalled days			91 -180 days	181-270 days	271-364 days	365 days
Annual interest rate		AMD	10 %	11 %	11.5 %	12%
		USD	7 %	7.5 %	7.5 %	8 %
		EUR	3 %	4 %	5 %	6 %
The possibility of granting overdraft to the sum of 90% of the placed deposit.
In the case of preterm annulment of the deposit the interest is calculated by the demand rate valid at the bank.
1	Tariffs and fines In case of preterm annulment of the deposit contract on the depositor’s initiative a/ from the sum available on the depositor’s banking account paid interest is charged in case monthly interest payment is stipulated by the deposit contract, b/ interest, accrued on the deposit amount and transferred to the depositor’s banking account, is not paid in case the deposit contract stipulates interest payment at the end of the term, In case of preterm annulment of the deposit contract interest is accrued to the actual daily remainder of the deposit amount. For the remainder on the banking accounts of resident physical persons in foreign currency, annual interest rate 0.01% is valid, and in AMD – 0.1% for the real period of placement in the bank. The bank is entitled to change the interest rate being accrued to the sum on the banking account in accordance with the tariffs and rates approved by the Board of Unibank CJSC. Account service of term deposits is made via banking accounts. From the client’s banking accounts annual fee for account service is charged, in accordance with the tariffs and rates of the bank
2	Information about interest rates 1 Annual interest rate - interest rate determined by the deposit contract in annual segment, according to which are accrued interest rates paid to the depositor. Interest calculation formula for the present deposit product: DT * Y / 365 * Days – 10% (income tax) where DT – sum of placed deposit Y – annual interest rate Days – number of days for which the deposit is placed, taking into consideration paragraph 1 of article 907of Civil Code of Republic of Armenia, according to which deposit interest is not accrued on the day of placement and recall of the deposit. Example 1 Deposit term - 365 days Deposit sum - 100 000 AMD Annual interest rate - 12% 100 000 * 12 /100 / 365 * 363 -10% = 10 740.8 AMD 2. Annual interest income (APY) – annual interest income on deposit in case of making compulsory payments by the investor as well as at capitalization of interest. APY= (1+r/n)n -1, where APY- annual interest income r- annual interest rate n- frequency of capitalization sum of interest rate during the year If interest is paid monthly n =12 , then APY= (1+0.12/12)12 -1, APY=0.126825100=12.68% If interest is paid at the end of term n =1 , then APY= (1+0.12/1)1 -1, APY=0.12100=12%

Additional information

1. According to point 2 of the law of RA “About currency exchange regulations and currency controls” interest payment on financial opertions is made in AMD. Interest is accrued daily. If the deposit is placed in foreign currency, the interest is paid according to the settlement rate fixed by the CBA on the day of payment.

2. Interest accrued to the deposit is subject to taxation (income tax) at the rate of 10%, according to the legislation of RA. The depositor is paid the sum less the tax.

3. If the deposit contract term coincides with holiday and/or week-end, the term is the subsequent working day.

4. The deposits placed in the bank are guaranteed by the Deposit Guarantee Fund, in accordance with the legislation of RA. The procedure of guaranteed deposits calculation is fixed by the central bank of RA. The guaranteed deposits limits are as follows:

only for deposits in AMD – 4 million AMD,
only for deposits in foreign currency – 2 million AMD
for deposits in AMD (over 2 million) and for deposits in foreign currency – up to 4 million AMD (only deposits in AMD are guaranteed )
for deposits in AMD (less than 2 million) and for deposits in foreign currency – deposits in AMD are fully guaranteed and the banking deposits in foreign currency are guaranteed equal to the difference of 2 million AMD and reimbursed banking deposit in AMD.

All the deposits in AMD placed in the same bank are considered to be one deposit, all the deposits in foreign currency are also considered to be one deposit. The joint deposit is a separate deposit in proportion to the share fixed in the contract.

5. For opening the deposit account it is obligatory to have banking account. For placing the deposit in foreign currency, besides opening banking account in foreign currency, it is obligatory to open banking account in AMD for accruing deposit interest according to the legislation of RA. Account service fee is charged in accordance with the tariffs and rates of the bank and is stipulated by point 2.4 of the service contract.

6. Please get any further information contact hot line at 59 55 55.

Information about the client’s rights protection

Any disputes and conflicts arising during the account service or deposit contract validity are settled by mutual consent of the parties. In case of failure the depositor’s rights are protected in legal way, and in cases stipulated by the law – by arbitration as well as via financial ombudsman. The depositor can protect his rights by himself or via the authorized representative. The bank has no right to condition the conclusion of the deposit contract with the conclusion of the arbitration agreement.

Updated: 10/12/10 09:00