YEREVAN, March 24. /ARKA/. Anelik Bank updated the terms and conditions of “Convertible” deposit, the bank’s press service reported ARKA on Saturday.
Individuals, who prefer this deposit, can any time in the  contract period  convert currency of their  deposit at the rate identified by the bank.
Afterwards, such deposits will have some definite interest rates applied for converted currency : for deposits in Armenian drams- up to 12.2 % annually,  in dollars- up to 8.2%, in euros- up to 5.2 %.
A client, who will use “Convertible” deposit will be able to gain up to 12.2% in earnings, Armen Arevyan, chief of the bank’s Department of Advertising and Public Relations, said.
“Moreover, a depositor can anytime, also till the end of contract terms, withdraw his deposit fully or partially while holding the rates for related months,” he said.
Arevyan also said that this flexible banking tool is an ideal solution for insuring clients against unwanted currency fluctuations.
The minimum amount of deposit is 100,000 drams or an equivalent sum in dollars and euros.The accrued rates are disbursed monthly or per terms, identified in the contract. The rates may be capitalized, and the accrued rates will be added to the initial deposit.
Anelik Bank was founded on July 9, 1990, registered on October 1, 1991, and received general license from Armenia’s Central Bank in October, 1996. Some 69% of its shares is owned by Lebanese CreditBank S.A.L., Samvel Chzmachian owns 12.25%, Armen Kazarian -6% and Galina Voronina-12.25%.In 1997 it launched Anelik money transfer system that operates now in 63 POSs in 90 countries.  -0-