What is this Armenian deposit calculator?

This is a free compound interest calculator and savings growth calculator for Armenian bank deposits, available on Saving.am. You can estimate how your savings grow over time by entering your initial deposit, monthly contributions, annual interest rate, and term. It supports AMD, USD, and EUR and includes tax, early withdrawal penalties, and the deposit guarantee limit.

What is compound interest and how does it work?

Compound interest means you earn interest on your principal plus on previously earned interest. When the bank pays interest (e.g. annually, quarterly, or monthly), that interest is added to your balance and itself earns interest in the next period. Reinvesting earnings this way makes your savings grow faster over the long term than simple interest. This calculator shows the full compound interest effect for Armenian bank deposits.

Which currencies does the Armenian deposit calculator support?

The calculator supports three currencies: Armenian dram (AMD), US dollar (USD), and euro (EUR). Interest rates and early withdrawal penalties differ by currency (e.g. higher rates often for AMD). The 16,000,000 AMD deposit guarantee limit applies to AMD deposits per depositor per bank; foreign currency deposits may have different guarantee rules. You can switch currency in the bar above the calculator.

How often is interest paid on Armenian bank deposits?

Interest can be paid annually, semi-annually, quarterly, or monthly, depending on the deposit product. More frequent payment (e.g. monthly) means interest is compounded more often, which can slightly increase your total return compared to annual payment. Use the "Interest Paid" control in the calculator bar to choose the frequency; the calculator then applies the correct compound interest formula for your scenario.

Is interest on bank deposits taxed in Armenia?

Yes. Interest income from bank deposits in Armenia is subject to a 10% tax. The calculator applies this rate and shows you gross interest (before tax), tax amount, and net interest (after tax). Your final balance and savings growth projections are based on net interest, so you see the real amount you keep. Tax rules may change; results are for estimation only.

What happens if I withdraw my deposit early?

Early withdrawal usually incurs an interest rate penalty. For AMD deposits the calculator uses a typical penalty of 2%; for USD and EUR it uses 1.5%. Your balance is recalculated as if you had earned the lower (penalty) rate from the start, so you may receive less than the projected balance. Use the "Early withdrawal" section in the Calculator tab to see the impact of withdrawing at a specific month.

How do I use the Goal Planner?

The Goal Planner tab helps you work backwards from a target amount. You can find: (1) how many years it takes to reach your savings goal with a given rate and monthly top-up; (2) the initial deposit you need to reach the goal in a set number of years; or (3) the monthly contribution needed to reach the goal in a set time. Set your target amount, interest rate, and optional existing monthly contribution, then choose the mode that matches your question.

Can I compare two deposit scenarios?

Yes. The Compare tab lets you set up two different deposit scenarios (initial amount, interest rate, monthly top-up, term, and interest payment frequency) side by side. You see the final balance and net profit for each, so you can compare different banks, rates, or strategies. This is useful to see how a higher interest rate or more frequent compounding affects your savings growth.

Where do the bank interest rates in the calculator come from?

The calculator includes indicative interest rates for several Armenian banks (e.g. Evocabank, Ameriabank, Inecobank, Araratbank, and others) and a market average, typically updated to a recent period (e.g. Feb 2026). You can select a bank from the list or choose "Custom Rate" to enter your own rate. Rates change over time; always confirm current terms with the bank. This tool is for estimation and comparison only, not a guarantee of offered rates.

Is this calculator financial or investment advice?

No. This Armenian deposit calculator and compound interest calculator is for informational and educational purposes only. It helps you estimate savings growth and compare scenarios but does not constitute financial, tax, or investment advice. Bank terms, interest rates, and regulations change; always verify with your bank and consider professional advice for important decisions.

Deposit Guarantee Explained: DGF and the 16 Million AMD Limit

Q: What is the deposit guarantee limit in Armenia?

The Deposit Guarantee Fund of Armenia protects deposits up to 16,000,000 AMD per depositor per bank. If a bank fails, you are guaranteed to recover up to that amount in AMD. This calculator warns you when your projected balance exceeds 16 million AMD so you can consider splitting savings across multiple banks to stay fully covered. The limit applies to AMD deposits; foreign currency coverage may differ.

When you place money in an Armenian bank, it may be covered by the Deposit Guarantee Fund (DGF) of the Republic of Armenia. This system is designed to protect depositors if a member bank fails. Understanding the coverage limit and how it applies helps you make informed decisions about where and how much to save.

The 16 million AMD limit

The DGF guarantees deposits up to 16,000,000 Armenian drams (AMD) per depositor per bank. If a participating bank becomes unable to meet its obligations, eligible depositors can receive compensation up to this amount for their AMD deposits held at that bank. The limit is set by RA legislation and may be reviewed over time.

Per depositor, per bank

Coverage is per person (or legal entity) and per bank. If you have 20 million AMD in one bank, only 16 million is guaranteed; the rest is at risk. If you split 20 million across two banks (e.g. 10 million in each), both amounts are fully covered. The Saving.am calculator warns you when your projected balance exceeds 16 million so you can consider splitting.

What is covered?

Typically, demand and time deposits in AMD at member banks are covered. Foreign currency deposits (USD, EUR, etc.) may be covered under the same or different rules—check the DGF or your bank for current details. Some products (e.g. certain investment or structured products) may be excluded.

Why it matters for savers

Knowing the limit helps you decide how much to keep in a single bank. If your goal is to grow savings beyond 16 million AMD, spreading amounts across several banks keeps each balance within the guarantee. Use the calculator’s guarantee warning and our article on AMD vs foreign currency deposits to plan accordingly.

For the latest coverage rules and eligible institutions, refer to the official Deposit Guarantee Fund of Armenia and your bank.

Deposit Guarantee Explained: DGF and the 16 Million AMD Limit

The 16 million AMD limit

What is covered?

Why it matters for savers

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