Open InecoSave savings account with Inecobank
With "InecoSave" you can replenish and withdraw money from your savings account whenever you want, at the same time during withdrawal the accrued interest is preserved. It is easy to save with us!
Customer group
Individuals with a current account in the bank
Account currency
֏ $ € ₽
Account opening and service fee
No Fee
Transfer from savings account to other accounts of the customer
No Fee
Minimum score for account opening/replenishment
Not defined
Account minimum balance
Not defined
Minimum amount of account transactions
Not defined
Types and limitations of possible operations with the account
Account replenishment
Withdrawal from the account
- cash in
- transfers from other accounts
Withdrawal from the account
- transfer to the client's current or card accounts
Annual nominal interest rate
֏ 3.5%
$ 0.2%
€,₽ 0.1%
Annual percentage yield
֏ 3.55%
$ 0.2%
€,₽ 0.1%
Interest calculation terms and frequency
- Interest is calculated daily for the balance on the given day
- if the account balance of the given day is less than 20 000 AMD | 50 USD | 50 Euro | 3 000 RUB, then the interest is not calculated for that day
- if the account balance of the given day exceeds 130 000 000 AMD | 250 000 USD | 250 000 EURO | 20 mln RUB, then the interest for that day is calculated for 130 000 000 AMD | 250 000 USD | 250 000 EURO | 20 mln RUB
Interest Payment
The calculated interests are paid each after the end of each calendar quarter, on the 1st of the following month (January 1st, April 1st, July 1st, October 1st)and are capitalized to the savings account balance. In case the payment day is a non-working day, the interests are paid on the next business day. In case of closing the account before the end of the quarter, the interest is not paid.
ATTENTION!
THE INTEREST FOR FUNDS AVAILABLE ON YOUR ACCOUNT IS CALCULATED BASED ON THE NOMINAL INTEREST RATE. AND THE ANNUAL PERCENTAGE YIELD SHOWS HOW MUCH INCOME YOU WILL RECEIVE BY MAKING MANDATORY DEPOSIT PAYMENTS AND WHEN RECEIVING THE INTEREST EARNED AT A DEFINED PERIODICITY. THE FORMULA DEFINED BY REGULATION 8/02 OF THE RA CBA ON "CALCULATION OF THE ANNUAL PERCENTAGE YIELD OF BANK DEPOSITS" IS ACCEPTED FOR THE CALCULATION OF THE ANNUAL PERCENTAGE YIELD OF THE DEPOSIT.
Example of interest calculation: (in the given example, the funds are invested on 01.10.2020, and are not withdrawn during the deposit term). A 10% income tax is deducted from the interest payable.
Invested funds (AMD) |
93rd day |
183rd day |
274th day |
366th day |
100,000 |
|
101,577 |
102,375 |
103,187 |
500,000 |
|
507,884 |
511,873 |
515,937 |
1,000,000 |
|
1,015,769 |
1,023,746 |
1,031,874 |
Other terms
Updated as of 13.03.2024 14:20