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Cumulative Pension Deposit

General Overview

Currency: AMD
Period:  min 5 years
Interest Rate: 
AMD 14%

Deposit Terms

Limitations RA resident citizens
Currency AMD
min Amount 10 000 AMD
Duration of accumulation Difference between pension age and depositor's age
min. 5 years
Accumulation period Not regulated
Annual interest Rate
CBFR1-0.5% in deposit accumulation period
During the return CBFR / 2, which is not subject to change after establishment 
Accrual of interests The interests accrued at the year-end are added to the balance on the deposit
Return of Deposit Pre-term before the end of accumulation period;
Pre-term return is prohibited unless otherwise established by the RA laws
At the end of deposit accumulation period:
From the date of reaching the pension age, the Depositor informs the Bank about the timing and method of return of the deposit, which can be:
  • one-time
  • periodic - no less than 3 years
  • transfer to insurance company for payment of pension
  • combination of above
Monthly installments

Formula for monthly installment:

moreover, it is required that


"D" is the Deposit balance on the business day following the date of reaching pension age by Depositor
"P" is the periodic installment amount
i"" is CBFR/24 on the business day following the date of reaching the pension age by Depositor
"n" is the number of payment months

  • The interests accrued and capitalized for accumulation of the deposit are not taxable
  • The total deposit amount, as well as the interests accumulated and/or to be accumulated in the future are taxed at the date of redemption under the RA laws existing at the date of payment

 "Converse Bank" Flexible rate /CBFR/

Specifics of Cumulative Pension Deposit

List of documents required for acceptance of deposits

The interests against the account amounts of the depositor are calculated on the basis of nominal interest rate and the annual profitability shows the possible income in case of depositing interest amounts.