"Converse Bank" has made changes in the "procedure of accepting term deposits" by replenishing them with new kind of term deposits. Particularly deposits "Voske Manuk", "Bareketsik Apaga" and "Pension" have been input.

First time in the banking system of Armenia "Converse Bank" CJSC is introducing new long-term accumulating deposit "VOSKE MANUK" with intangible gold. Accumulating deposit on the names of minor children is accepted by legal representative of the depositor which gives opportunity to citizens to provide their children's welfare future still in their childhood. Lоng-term accumulating deposit is accepted in AMD equivalent to the price of 999.9 rate gold quantity to be deposited as of that day. Deposit term is 5-16 years, annual interest rate - 0. According to deposit conditions legal representative of the depositor can regularly replenish the deposit. At the end of deposit term the depositor can receive amount equivalent to the gold quantity accumulated during the years with exchange rate as of that day or order standardized gold bullion in relevant weight.

Deposit "BAREKETSIK APAGA" gives opportunity to take care of welfare pension age still in youth. Depositors can invest minimum AMD 50 000 or USD 200 and monthly add maximum AMD 100 000 or USD 300. Deposit "BAREKETSIK APAGA" is accepted with "Converse Bank" flexible interest rate (at present 10%) plus 5% interest rate. "Converse Bank" flexible rate is changeable and is reviewed once a month. (It is published in the website of the bank and placed in service halls of the bank.)

Deposit term consists of 2 parts: accumulation and allocation. Accumulation term is at least 10 years. At the end of accumulation term the depositor on his/her request can get the whole amount at once define allocation term and receive the accumulated amount in equal payments by the schedule preferred by the depositor. Morever, during the allocation term the interest will continue to be calculated on the balance value.

Deposit "PENSION" is directed to adult citizens who get monthly pensions and wish to save money during a year. Minimum amount of deposit "PENSION" is AMD 10000 and monthly amount to be added should not exceed quintuple of the deposited amount for the first time. Deposit term is 1 year. The interest rate of this deposit at present makes up 13%. Once a month calculated interests are added to the deposit balance or on an account by the depositor's request. In case of preterm termination of deposit agreement recalculation is done with 6% annual interest rate.

Changes have been made also in "Progress", "Karas" deposits operating in the bank, particularly minimum limit of deposited amount has been reduced, instead of AMD 100 000 in the past at present it is defined 30 000 AMD.

We would like to remind you that at present deposits "Progress" with the right of increasing the amount, "Karas", "Manuk" on the children's name, "Voske Manuk", "Daily", "Pension" and "Bareketsik Apaga" are operating in "Converse Bank".