Accumulative deposit

Start realizing your big and distant goals and dreams with small steps. Make an Accumulative deposit and start saving even with small amounts. Replenishing and getting interest on it is more flexible than ever.

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About Deposit Terms and Conditions Additional Documents

Maturity period (month) / Interest rate (%)

Maturity period (month)

Interest rate (%)

9-11

8.5%

12-14

9.25%

15-23

9.25%

24-30

9.5%

31-36

9.75%

Minimum amount

50 000

The Bank sets individual terms and conditions for deposits exceeding gross 200 000 000 AMD and/or equivalent foreign currency invested by the same customer or group of customers.

Deposit replenishment

"Accumulative" deposit can be replenished during the entire validity period of the deposit, except for the expiration day of the contractual term of the deposit.

No minimum amount of replenishment of the "Accumulative" deposit is defined.

The maximum allowable monthly limit for replenishment of the "Accumulative" deposit for each calendar month is set as 10,000,000 AMD, 25,000 USD, 25,000 Euro, according to the currency of the deposit.

ATTENTION: IN CASE OF A REPLENISHMENT EXCEEDING THE MAXIMUM MONTHLY LIMIT OF THE CUMULATIVE DEPOSIT, THE AMOUNT EXCEEDING THE ALLOWABLE LIMIT WILL BE TRANSFERRED TO THE CUSTOMER’S CURRENT BANK ACCOUNT OF THE SAME CURRENCY

Deposit withdrawal

In case of withdrawal of funds available on "Accumulative" deposit account earlier than stipulated by the Deposit Agreement, a recalculation will be applied for the interest based on the "Demand" deposit yearly percent established in the Bank at the given moment.

Interest repayment frequency

When making a "cumulative" deposit, interest can be paid quarterly

For deposits in AMD- with 0.3 points less of the annual interest rate,
For deposits in US dollars and Euros- with 0.2 points less of the annual interest rate
Paid interest is not capitalized.
Quarterly interest payments on "accumulation" deposits are made from the date of deposit to the end of the calendar quarter. In the event that the quarter is incomplete, interest payments are made at the end of the term.

According to the RA Law "On Income Tax", when paying the Depositor the accrued interest the Bank acts as a tax agent of the Depositor and charges the income tax as defined by the aforementioned law and transfers the sum to the state budget.

COMMUNICATION WITH THE BANK

YOU HAVE THE RIGHT TO COMMUNICATE WITH INECOBANK CJSC IN A WAY YOU PREFER, BY POST OR ELECTRONICALLY (REMOTELY). RECEIVING THE INFORMATION ELECTRONICALLY IS THE MOST CONVENIENT WAY. IT IS AVAILABLE 24/7, HAS NO RISK OF PAPER INFORMATION LOSS AND ENSURES CONFIDENTIALITY.

ATTENTION

THOSE WITH OTHER INTEREST PAYMENT PERIODICITY, THE ANNUAL INTEREST RATE OF THE DEPOSIT MAY DIFFER.

ATTENTION

INTEREST ON FUNDS IN YOUR ACCOUNT IS CALCULATED BASED ON THE NOMINAL INTEREST RATE. AND THE ANNUAL INTEREST YIELD SHOWS HOW MUCH INCOME YOU WILL RECEIVE BY MAKING MANDATORY PAYMENTS RELATED TO THE DEPOSIT AND RECEIVING THE INTEREST EARNED AT A DEFINED PERIODICITY. THE FORMULA DEFINED BY REGULATION 8/02 OF THE CBA OF RA "CALCULATION OF THE ANNUAL INTEREST YIELD OF BANK DEPOSITS" IS ACCEPTED AS A BASIS FOR THE CALCULATION OF THE ANNUAL INTEREST YIELD OF THE DEPOSIT.

Deposit interest calculation example

Deposit interest calculation example

Deposit amount - 1,000,000 AMD

Maturity term - 12 months (365 days)

Annual simple interest rate - 9.0%

The deposit was replenished on the 90^th day with 500,000 AMD

Interest payment- at the end of the maturity term

Taxation- 10% of the income

Quantity of months to replenish the deposit 12 (months)

Interest amount calculation

1,000,000 AMD * 9.0% * 365 (days) – 10% income tax = 81,000 AMD

365

500,000 AMD * 9.0% * 276 (days) – 10% income tax = 30,625 AMD

365

Total interest amount - 81,000 + 30,650 = 111,625 AMD

Annual percentage yield - 9.0%.

Other terms

Procedure of settlement of disputes arising from the deposit agreement

Disputes and disagreements between the Parties during the validity of the Deposit agreement shall be settled through negotiations. In case of no agreement through negotiations, the disputes shall be settled in accordance with the RA legislation.
The Customer can submit the complaint (except for the complaint-request) and the application to the Bank in person (by handing the letter at the Bank's location), by post (by sending the letter to the address of the Bank's Central office), through the appeal application on the Bank's official website, by phone (by calling the Bank’s Contact Center) or through other remote communication channels of the Bank (by e-mail, InecoOnline/Mobile systems, through social networks, etc). The complaint-request is submitted to the Bank in writing, in person, by mail or through the appeal application posted on the Bank's official website.
The Bank makes a decision on the complaint (to satisfy, partially satisfy, reject) within 10 working days.
The Customer has the right to submit the complaint-requests arising between the Bank and the Customer to the Financial System Mediator.

Annual deposit interest yield calculation

N
∑

n=1

K_n

__________________
(1+APY) D9/365

Where:

A - initial deposit amount
ո -the serial number of cash flows for the deposit
N -the last number of cash flows for the deposit (including also the cash flow at the time of making the deposit), after which the term of the Deposit agreement is considered to have ended.
Kո-mandatory fee flows for the deposit made and/or capitalized interests, if any, at the time of making the deposit and/or during the term of the deposit.
Dո-is the number that indicates how many days have passed from the date of the deposit to the next n^th cash flow for the deposit inclusively. In case cash flows are at the time of making the deposit, then D1= 0.

Privileges of the Depositor

1․ Opening a current account is free for the RA resident customers in case of making a term deposit in the Bank. In case of early termination (full or partial) of the Deposit agreement within 30 days after making the deposit, the Bank may charge the Customer the fee for account opening and/or for cash deposit into account defined under the relevant tariffs of “Bank Account Standard Tariff Plan for Individuals” or “Bank Account Current Tariff Plan for Individuals”. The Bank may perform a recalculation of interests, which may lead to a decrease in the annual interest yield.

2․ Within the framework of Standard tariff plan, for the entire period of validity of the card, without applying card account annual service fee, the Customer shall be provided with the following:

one card of Classic or Standard class in the currency preferred by the Customer, if the total amount of the Customer's term deposits and/or purchased bonds (issued by the Bank) at the time of ordering the card was from 500,001 to 10,000,000 AMD or an equivalent foreign currency,
one card of Gold class in the currency the Customer prefers (without assistance insurance), if the total amount of the Customer's term deposits and/or purchased bonds (issued by the Bank) at the time of ordering the card was at least 10,000,000 AMD or equivalent foreign currency.

Updated as of 03.07.2026 09:07