YEREVAN, June 17. /ARKA/. According to a study by ARKA news agency, the highest interest rate on individual time deposits in Armenian drams is 10% per annum, offered by Armbusinessbank. The maturity period of the deposit is 271-365 days.
The second highest interest rate on time deposits in drams is offered by Artsakhbank – 9.75%, followed by VTB Bank (Armenia), which offers 9.5% interest rate. Ardshinbank, Unibank, Conversebank and Byblos Bank Armenia offer deposits in drams with annual interest rate of 9%. The lowest interest rate on deposits is offered by Iranian Mellat Bank – 3%.
Overall, the interest rates on deposits in Armenian drams offered by Armenia-based commercial banks did not change much during the first half of 2019. According to the latest data of the Central Bank, the average interest rate on deposits with maturity period of 12 months in April 2019 was 8.85%, which was 0.10 percentage points less than in January. On June 11, the Armenian Central Bank left the refinancing rate unchanged at the level of 5.75%. -0-
