Family Time Deposit

ACBA-CREDIT AGRICOLE BANK has a balanced loan policy, consequently ressources of our Depositors in our bank are completely safe and secure. By investing a Family Time Deposit, ACBA-CREDIT AGRICOLE BANK will give you the possibility to get the amount of interest calculated on the amount of deposit by the end of each month and dispose of it solely.

Terms of the Deposit:

 

  • This Deposit account is determined for natural persons only.
  • The currency - AMD, USD, EUR, RUR
  • The minimal amount of the Deposit – AMD 50,000, USD 200, EUR 200 or RUR 5,000
  • Duration of Deposit – from 1–24 months
  • The annual simple interest rate of the Deposit or annual interest profitability:

 

 

Payment frequency of 
interest income
Currencyfor first 3 monthsfor 3-6th monthsfor 6-9th months
for more than 9 months
Monthly AMD 6.5% 7.5% 8.5%
 9.5%
USD 1.0% 2.0% 3.0%
 4.0%
EUR 1.0% 1.5% 2.0%
 2.5%

 

       
RUR 0.5% 1.5% 2.5%
 3.5%

 

  • The interest income towards the means, available in the customer’s account is being calculated on the basis of nominal interest rate. And the annual interest profitability shows how much the customer’s income will be, if he puts once more the interest incomes, received for his deposit in the deposit account.
  • If you wish, after the end of the action of the agreement of time deposit, the deposit agreement can be lengthened without visiting the Bank, by the same duration and by the interest rate acting for the current year.
  • If you have signed the deposit agreement without possibility of lengthening after the end of the date of deposit agreement or after appearing of the conditions, foreseen by the agreement, in the case of not demanding the amount of money of the time deposit, the amount of money is being transferred to your current account by the conditions of deposit that have to be called for if no other thing is being foreseen by the agreement.
  • During the action of deposit agreement the percents of the deposit are paid monthly in the current account of the depositor
  • At the end of first, second, third quarters, the Depositor is paid at once a bonus for the previous months the following way: AMD, USD and RUR - 1% (annually) and EUR, GBP, CHF - 0.5% (annually) that correspondingly is calculated on the daily balance of the money available on the deposit account during these months.
  • If you wish, you can get VISA Classic card/MasterCard Standard without service payment of card account, if at the moment the balance of the deposit account is more than AMD 60,000 and is equal or does not exceed the sum of AMD 7.5 million (the currency equivalent to it), or get the VISA Gold card/MasterCard Gold, if at the moment the balance of the deposit account exceeds AMD 7.5 million (or the equivalent sum of money in other currency). 
  • If you wish a credit line of up to 80% of the balance available on the deposit account can be attached to the obtained VISA/MasterCard, and You can use the credit line during the action of the deposit agreement
  • In case you use the credit line attached to VISA Classic/MasterCard Standard or VISA Gold/MasterCard Gold cards and reimburse it before correspondingly the 7th or 14th day of the next month, no interest rate will be calculated on the credit line.
  • You have the opportunity to increase the Deposit amount during the Deposit effective period. 
  • The money means, received from the third persons also can be entered in the deposit account of the deposit holder, by corresponding necessary notices about his deposit account.
  • The interest income is being calculated daily on the available balance of the account.
  • The Bank calculates the interest rate on the amount of the Deposit from the next day the Deposit enters the Bank up to the returning of the Deposit to the customer or one day prior to the day the Deposit is withdrawn by other means from the Depositor’s account.
  • ACBA-CREDIT AGRICOLE BANK guarantees that the information about Deposit put in the Bank by You is CONFIDENTIAL.
  • Issue of account statements (including a copy thereof) - free of charge
  • Issuing copies of documents:

       - for up to three-month limitation period - AMD 1,000 (including VAT)

       - for 3 to 12 months limitation period - AMD 2,000 (including VAT)

       - for 1 to 3 years limitation period - AMD 5,000 (including VAT)

       - for limitation period of 3 years and more - AMD 10,000 (including VAT)

  • Providing information:

       - response to audit enquiry - AMD 5,000 (including VAT)

       - providing other references - AMD 3,000 (including VAT)

  • The Bank can not unilaterally decrease the amount of the interest rates of the deposit, decided by the agreement of the Bank deposit, that the customer entered by the condition of receiving it back at the end of the defined period of time, or after the appearance of the conditions, foreseen by the agreement, if no other thing is being foreseen by the Law.
  • Bank has not determined any tarriffs or other conditions decreasing the annual interest profitability for the present Deposit account.
  • In case of demanding the Deposit ahead of the determined effective period, during 1 banking day the sum of Deposit as well as the unpaid interest income of 1% calculated for the days preceding the cessation of the Deposit will be paid to customer.
  • The interest income, received during the duration of Deposit agreement, is taxable by 10%, in compliance with the RA Legislation in force.
  • The calculated interest income for the currency Deposits is paid in AMD – by the day’s average exchange rate, annonced by the Central Bank of the RA.
  • The Bank has the right to change the amount of interest income paid for demand deposits, as well as monetary resources available in the bank accounts, if there is no other contradictory stipulation in the Agreement.
  • The disputes and disagreements, arising out of the Deposit agreement are being resolved by means of negotiations.In case of not coming to an agreement in the result of negotiations the disputes and disagreements are resolved by order defined by the Armenian Legislation.

For example
If You put in ACBA- CREDIT AGRICOLE BANK a Family time deposit, in the sum of AMD 50,000 for 2 years and make additions of money in a sum of AMD 10,000 monthly, by the end of the Deposit duration You will be the owner of AMD 309,424.

 

Deposit amount 
(AMD)
Monthly payments amount* 
(AMD)
The sum that You will have
in 3 months in 12 months in 24 months
50,000 10,000 70,882 170,221 309,424
100,000 25,000 151,841 398,421 744,286
150,000 50,000 252,954 742,580 1,430,040

 

In the mentioned example each monthly payments are made starting from the 2nd month.

 

In ACBA- CREDIT AGRICOLE BANK the reimbursement of bank deposits of natural persons is guaranteed by the ’’Fund, guaranteeing the reimbursement of the deposits’’ by the amount subject to the reimbursement. Particularly
- in case of only AMD deposits- 4 million AMD
- in case of only currency deposit – 2 million AMD
- in case of AMD (more than 2 million) and currency deposits – up to 4 million AMD
- in case of AMD (less than 2 million) and currency deposits – the AMD deposit – wholly and currency deposit – 2 million AMD and by the amount of difference of reimbursed AMD deposit.