Taxation
Accrued interest is taxed in accordance with the law
Return of the deposit
If the deposit or part of it is returned before the deadline, the bank charges and pays the depositor interest at the rate applied to the daily balance of the bank account
In what case is a non-cash amount considered as cash?
Non-cash amounts that have been deposited for more than 60 calendar days will be treated as cash.
Interest payments
Accrued interest on the deposit is paid monthly or at the end of the term, according to the agreement. If the depositor has not requested interest within the time limits set by the Bank Deposit agreement, it is not added to the deposit amount, but is transferred to the depositor's demand account and paid out at the depositor's first request.
No commission fee is charged for cash payment of the deposit amount transferred in cash to the deposit account, as well as interest accrued on it
How are interest rates set outside of Armenia?
Interest rates on deposits of non-residents outside the Republic of Armenia are set on a contractual basis
