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 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.

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.

Fixed vs Accumulative Deposits

Armenian banks offer different types of deposit products. Two common categories are fixed-term (time) deposits and accumulative (savings) deposits. The main difference is whether you commit a single sum for a fixed period or can add to the balance over time. Each has implications for interest rate, flexibility, and early withdrawal.

Fixed-term (time) deposits

You deposit a lump sum for a set period (e.g. 1, 2, or 5 years) at an agreed interest rate. The rate is usually fixed for the whole term. You typically cannot add more money to the same contract during the term. If you need the money early, the bank will usually apply an early withdrawal penalty (e.g. a reduced interest rate), so you get less than the projected amount. Fixed-term deposits often offer higher rates in exchange for this commitment.

Accumulative (savings) deposits

These allow you to add money periodically (e.g. monthly) in addition to the initial deposit. The balance grows with your contributions and with interest. Rates may be slightly lower than on fixed-term products, but the flexibility to top up can suit savers who want to build the habit of saving. Terms and conditions (e.g. minimum top-up, interest payment frequency) vary by bank; some products may allow partial withdrawals under certain rules.

Compare with the calculator

Use the Saving.am calculator in Calculator mode for a fixed scenario, or add monthly top-ups to simulate an accumulative-style plan. Use Compare to see how a fixed deposit and a plan with monthly contributions differ in final balance and net interest.

Which to choose?

If you have a one-off sum and can lock it away, a fixed-term deposit may give a higher return. If you prefer to save regularly and grow the balance over time, an accumulative product may fit better. Consider early withdrawal penalties and the deposit guarantee limit (e.g. splitting large amounts across banks) in both cases. Read our articles on early withdrawal penalties and choosing the right deposit term for more detail.

Product terms differ by bank; always confirm conditions with the bank before deciding.

Fixed vs Accumulative Deposits

Fixed-term (time) deposits

Accumulative (savings) deposits

Which to choose?

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