• A passport (or identification card) or a military record book, and where a depositor is a foreign citizen (except for dual citizenship), passports shall be translated into Armenian and notarized.
• A social card or a reference on issuing a public service number.
• A power of attorney certified by a notary public, where a person is authorized to deposit and/or manage funds.

Plastic cards shall be issued with no annual service fee and minimum required balance.

• Minimum deposit amount is AMD15,000 (fifteen thousand) or USD50 (fifty).
• Bank and card accounts shall be opened for the Depositor free of charge. Once the deposit is repaid and the deposit agreement is not extended within one month, the current account shall become paid based on the rates applicable at the bank
• Deposits may be topped up during the whole period of agreement except during the 30 (thirty) days preceding maturity date of the Agreement.
• The interest rate of the deposit shall be fixed for 4 years and shall be revised once in every 4 years thereafter.
• Accrued interests are subject to taxation at the moment they are paid out to the customer as provided by the Armenian Law on Income Tax.
• If the depositor claims the deposit principal before the second anniversary after the deposit agreement has been executed, an interest rate of 0.1% per annum shall apply over that amount for a period between the date the deposit was invested and the date the deposit was claimed, and any amounts paid in excess of recalculated interest shall be withheld from the principal amount of deposit.

Deposits with ARARATBANK are guaranteed by the"Deposits Compensation Guarantee Fund". Both deposits (accounts) in Armenian drams and in foreign currency of either individuals or entrepreneurs are guaranteed. Maximum guaranteed amount for deposits in Armenian drams is 10 million drams, and 5 million drams for deposits in foreign currency. No actions shall be taken by the depositor to guarantee his deposit. From the moment the amount is deposited it is deemed guaranteed.

Metal accounts are not reimbursed by the Deposit Guarantee Fund.

“Your financial directory” is an electronic system which facilitates the search and comparison of the services offered to individuals, and selection of the best options for you

You have the right to communicate with a financial institution of your choice by post or e-mail. Receiving information electronically is the most convenient option. It is available 24/7, free from the risks of loss of paper information and ensures privacy.

The bank may request additional documents or other information based on the "Know your customer" principle, as well as ask additional questions during oral communication, for the purpose of due diligence of the customer defined by the RA Law "On Combating Money Laundering and Terrorist Financing". .

In accordance with the agreement signed with the USA based on the Compliance Act (FATCA), the financial organization may collect additional information to determine whether you are a US taxpayer.