Special Purpose Accounts

Special purpose account tariffs - valid from 14.12.2023
Special purpose account tariffs - valid till 13.12.2023

TARIFFS FOR DEVELOPER’S SPECIAL ACCOUNT
N	Principal tariffs*	AMD
1	Opening of account (AMD)	0
2	Minimum account balance	0
3	Annual account maintenance fee (AMD)	0
	Annual interest rate accrued on total daily balance of account or accounts ¹	Contractual
	Interest payment frequency ²	Quarterly
	Additional tariffs
1	SMS notification on account activity and balance (AMD for each text message)	Bank account tariffs for legal person and individual entrepreneur clients shall apply
2	Issuance of special account statement (AMD)
3	Issuance of information statements (AMD) ³
2.4	Account closure fee
¹The Bank shall be entitled to transfer the annual interest accrued on total daily balance of the account or the accounts to another bank account of the developer. ²Interest rates accrued on the bank account balance of non-resident legal persons shall include the profit tax rate for non-residents (in cases prescribed by the legislation of the Republic of Armenia). ³ The tariffs shall include the value added tax (VAT).
* Receipts and expenditures of the principal special account shall be implemented in AMD only.
The Bank shall open developer’s special accounts for resident and non-resident legal persons and individual entrepreneurs having a construction permit in the Republic of Armenia and having ownership right to a land plot intended for construction.
The Bank shall open developer’s special account within maximum 2 banking days upon receiving all necessary documents according to document list.
The Bank shall accept application-agreements on opening developer’s special account, shall open and manage developer’s special accounts in the Bank branch network and at the head office.
The Bank may open more than one developer’s special account for each developer in AMD only.

TARIFFS FOR DEVELOPER’S SPECIAL ACCOUNT
N	Principal tariffs*	AMD
	Opening of account (AMD)	0
	Minimum account balance	0
	Annual account maintenance fee (AMD)	0
	Account closure fee
	According to client’s application (AMD)	0
	On Bank’s initiative ¹(AMD)	2500
1	Annual interest rate accrued on total daily balance of account or accounts ²	Contractual
	Interest payment frequency ³	Quarterly
	Additional tariffs
	SMS notification on account activity and balance (AMD for each text message)⁴	Bank account tariffs for legal person and individual entrepreneur clients shall apply
	Issuance of special account statement (AMD) ⁴
	Issuance of information statements (AMD) ⁴
¹Fees shall apply in the event of absence of any transactions on all accounts of the client for 12 months in a row. In case of insufficient funds on the accounts of the client, the Bank shall charge fees in the amount of the account balance. In case of an exceeding balance, starting the 13^th month, fees for inactive account shall be charged for the following inactive period according to tariffs for opening accounts for legal persons. ²The Bank shall be entitled to transfer the annual interest accrued on total daily balance of the account or the accounts to another bank account of the developer. ³Interest rates accrued on the bank account balance of non-resident legal persons shall include the profit tax rate for non-residents (in cases prescribed by the legislation of the Republic of Armenia). ⁴ The tariffs shall include the value added tax (VAT).
* Receipts and expenditures of the principal special account shall be implemented in AMD only.
The Bank shall open developer’s special accounts for resident and non-resident legal persons and individual entrepreneurs having a construction permit in the Republic of Armenia and having ownership right to a land plot intended for construction.
The Bank shall open developer’s special account within maximum 2 banking days upon receiving all necessary documents according to document list.
The Bank shall accept application-agreements on opening developer’s special account, shall open and manage developer’s special accounts in the Bank branch network and at the head office.
The Bank may open more than one developer’s special account for each developer in AMD only.