By far bank deposits are one of the most popular, convenient and safest ways to save money. If you would like to make a bank deposit but are uncertain about currency, try to answer the following questions
In which currency do you receive your salary?
Do you mostly reside and spend money in Armenia or abroad?
Why do you want to save money (purchasing apartment, paying kids’ tuition fee, etc.) and in which currency are you planning to spend it?
If your answer is “Armenian drams” for most of the questions, then the best option for you is obviously a deposit in Armenian drams.
And there’s still more...
If you want to make a deposit in another currency, you will first have to convert your sum into that currency (US dollars, etc.) and then back to Armenian drams when you decide to use it.
Why do this, if you can save and use money directly in Armenian drams.
Interest rates for deposits in Armenian drams are higher than interest rates for any other currency.
Where envisaged under the Law of the Republic of Armenia on “Guarantee of Payment of Deposits” the amount of deposit covered by the law is way greater for deposits in Armenian drams than other currencies.
Last year our country reported 5.2% economic growth. What can we do contribute to it? Make a deposit in Armenian drams in Ameriabank and support Armenian businesses!