Monday, May 24 2010 17:36

Armenian Development Bank sets new rates on AMD deposits


ArmInfo. The Armenian Development Bank (ADB) offers new terms for AMD deposits. The ADB press service told ArmInfo that in case of an agreement on the "Ordinary" deposit for a period ranging from 1 to 6 months, the interest rate is fixed at 12% p.a. The minimal amount of the deposit is to be 100 thsd AMD. One can replenish the deposit with 100 thsd AMD throughout the whole period of the agreement. In case of pre-term cancellation of the agreement or withdrawal of the amount from the deposit, re-calculation is made over the latest incomplete month, and the bank pays the interests at the rate of 5% p.a. for the factual number of days of the withdrawn amount's being on the deposit account.

To note, besides the "Ordinary" deposit, ADB also attracts such deposits as "Multi-currency", "Accumulative", "Discount", "Children's" deposits.

According to the Ranking of Commercial Banks of Armenia by the Agency of Rating Marketing Information (ArmInfo), as of 1 April 2010 the ADB portfolio of time deposits amounted to 8.5 bln AMD, or about 50% of general liabilities of the bank.
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