Calculation of interests
Attention! Interests are calculated on outstanding amount on daily basis for a 365-day year.
Example
Used overdraft limit – 1,000,000 AMD
Annual interest rate – 15 %
Daily interest calculation – 1,000,000*15%/365=410.96
Change of interest rates
The bank is entitled to change the interest rate at any time depending on the volatility of the interest rates on the funds borrowed and/or allocated by the bank in the financial market, and/or occurrence of preconditions for the change of annual interest rate applied to the loan. The bank issues a respective notice to the borrower 30 days in advance which will serve as a basis for applying the new interest rate from the day specified in the notice. If not consenting to the new interest rate, the borrower has the right to terminate the agreement by fulfilling the liabilities thereunder as of the date of termination. SME overdrafts are provided in non-cash form in AMD, USD and EUR.