YEREVAN, September 26. /ARKA/. Converse Bank is launching a new deposit “Converse 25” on the occasion of the Bank's 25th anniversary. This is a unique type of deposit in the banking system; in case of its early termination, depositors are not deprived of the accrued interest amount, the bank said in a press release.

““Converse 25” is a deposit with maturity of 25 months, with a higher interest rate starting from the 13th month of depositing than the interest rate applied during the first year. In case of early termination of the deposit, the interest amount is paid to the customer based on the interest rate applied at the time of making the deposit (for the period of 1-12 months). These are the main advantages of this deposit as compared to other similar offers,” it said.

The possibility of partial withdrawal from the principal amount during the deposit maturity, as well as higher interest rates as compared to similar offers available at the market were mentioned as other advantages of “Converse 25”. It was also mentioned that Converse Bank would soon present other advantageous offers in connection with its 25th anniversary.

Converse Bank CJSC was registered on December 20, 1993. The bank's shareholders now are the Advanced Global Investments LLC (Argentina) with a share of 80.94%, the Armenian Apostolic Church ( 5%) and the HayPost Trust Management B.V. Company (14.06%).