Easy-to-use and paying deposit a new type of deposit from ARARATBANK

A new type of deposit Ararat-Comfort with a three-year maturity will be in place in ARARATBANK for individuals and legal entities since February 1. The deposit stands out for attractive interest rates, deposit reduction with the retention of interests, as well as deposit top-up and capitalization possibility without visiting the bank. The nominal annual interest rate of the new type of ARARATBANK deposit — Ararat-Comfort — shall be set 9% for AMD deposit, 4,65% for USD deposit and 2,5% for EUR deposit. Annual interest yield for AMD deposit shall be 9,41%, 4,76 for USD deposit, and 2,53% for EUR deposit. Interests shall be paid out every month. Minimum deposited amount shall be AMD 500,000, USD 1,000, and EUR 1,000, while maximum deposited amount shall be AMD 100,000,000, USD 200,000 and EUR 200,000.          

Ararat-Comfort will enable depositors to top up their deposits during the whole effective period of the contract except for the period of 90 days preceding the deposit maturity period. The total amount of all top-ups during the deposit contract period (except for capitalized amounts) cannot exceed the value of the initial deposit amount.         

During the contract period, depositors shall be also entitled to reduce the deposit amount without any amount and term restrictions. Unlike other deposits, interest amounts shall accrue and paid out based on the following logic: where the deposit is reduced within the first 3 months, 0.1% per annum shall be paid for all currency deposits, and where the deposit is reduced between 3 and 6 months, 6.0% per annum shall be paid for AMD deposits, 3.0% per annum for USD deposits, and 1.5 per annum for EUR deposits. One of the most important advantages of the deposit is that where the depositor reduces the deposit 6 months later, all interests stipulated by contract shall be paid out to the depositor without any recalculation (reduction).