"Amarayin/Summer" deposit
Effective June 16, 2017 through August 31, 2017, take an opportunity to open a special "Amarayin/Summer" deposit with Converse Bank on below terms.
Currency | AMD | |
Type | Without replenishment | |
Effective period | 12 months | |
Annual simple interest | 10% | 10.5% upon opening deposit through Internet-Bank |
Payment of interests | Upfront at the beginning of the term | |
Minimum amount | AMD 100,000 | |
Max aggregate deposit(s) per depositor | AMD 50,000,000 |
Open AMARAIN Deposit and enjoy the following benefits:
- No cash withdrawal fee is charged for cash payment of online Deposit at expiry.
- "Special Offer" are applied to Depositors.
- 50% discount is offered for use of safe deposit boxes at Kilikia and Nor Nork branches.
The customers opening Deposit within the scope of the Campaign can get ArCa Classic non-revolving credit card on below terms:
Repayment | Annuity-based, by equal monthly installments |
Limitation for use of credit card |
The credit card can be used within 2 months from issuance, only when making purchases from companies partnering with the Bank under ConverseQvota.
List of partnering companies here.
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Credit limit | Triple Deposit amount, but no more than AMD 1,500,000 |
Annual interest rate | 0% |
Origination fee | AMD 10,000 (one-time, payable before issuance of credit card) |
Max maturity | 15 months, first installment is made starting from the 4th month (3-month grace period is granted for the first 3 months). |
Fines and penalties | Upon breach of due dates, the Borrower pays the Bank a penalty at 0.5% of the overdue loan for each day of delay. The Bank applies a one-time penalty of AMD 5,000 on the 5th business day for delay in principal payment. |
Card issuance and card account service fee | AMD 0 |
Security | For Loans of up to 100% Deposit amount - cash on Deposit account (respective portion thereof), and above 100% - unsecured for the amount in excess. |
LTV ratio | Up to 300%, |
Creditworthiness requirements |
The applicant has to be a registered employee at the date of filing of loan application, and within a year preceding the date of application:
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At the Depositor’s discretion, the Deposit Agreement will be extended at expiry on the terms and conditions applied by the Bank to PROGRESS or ORAKAN (Daily) deposits at the particular date.