Which Bank in Armenia Offers the Most Profitable Deposit for 2 Million Drams?

Updated in May 2025

We set out to find which banks in Armenia offer the highest interest rates on one-year deposits — taking into account all fees, interest capitalization terms, early withdrawal options, and other important details. Let’s say you’ve saved up 2 million drams. Which bank will pay you the most to keep your money for one year?

At AFM, your financial gain is our top priority. That’s why we monitor the Armenian banking market daily and keep up-to-date information on rates, terms, and promotional offers.

We know the actual conditions for every deposit in every bank in Armenia. This allows us to analyze them quickly and create objective rankings so you can choose the best option for yourself.

If you want to find the best deposit for a different amount, term, or currency — use our deposit selection tool. Just a few clicks — and you’ll find the right conditions.

So let’s take a look at which banks will pay you the most if you deposit 2 million drams for one year.

AMIO Bank – “Profitable” Deposit via Mobile App

1. Rate: 10.25% per annum
2. Capitalization: no
3. Early withdrawal & top-up: not available
4. Pros: highest rate; free Visa or Mastercard issued by the bank
5. Cons: available only through the AMIO mobile app, so only current clients can open it; early withdrawal with interest retention is not allowed

Annual income calculation:

2,000,000 × 10.25% = 205,000

10% income tax = 20,500

Your net income: 184,500 drams

Apply for a loan

AMIO Bank – “Profitable” Deposit (standard)

1. Rate: 10%
2. Capitalization: no
3. Early withdrawal & top-up: not available
4. Pros: simple terms, available to new clients
5. Cons: no early withdrawal with interest retention

Annual income calculation:

2,000,000 × 10% = 200,000

10% income tax = 20,000

Your net income: 180,000 drams

Apply for a loan

Artsakhbank – “Term Deposit”

1. Rate: 10%
2. Capitalization: no
3. Partial withdrawal: up to 20% allowed
4. Early termination: possible, but only 1% interest is paid
5. Pros: partial withdrawal allowed
6. Cons: interest is not capitalized

Annual income calculation:

2,000,000 × 10% = 200,000

10% income tax = 20,000

Your net income: 180,000 drams

Apply for a loan

Evocabank – “Symphonic” Deposit

1. Rate: 9.75%
2. Capitalization: no
3. Top-up: allowed (up to the initial amount)
4. Early termination: allowed
5. Commission: 0.25% of earned interest is transferred to a symphony orchestra fund
6. Pros: top-up allowed
7. Cons: part of the income goes to charity

Annual income calculation:

2,000,000 × 9.75% = 195,000

Commission = 488

Taxable income = 194,512

10% income tax = 19,451

Your net income: 175,561 drams

Apply for a loan

Byblos Bank Armenia – Term Deposit

1. Rate: 9.75%
2. Capitalization: no
3. Early withdrawal & top-up: not available
4. Pros: simple terms
5. Cons: no flexibility

Annual income calculation:

2,000,000 × 9.75% = 195,000

10% income tax = 19,500

Your net income: 175,500 drams

Apply for a loan

Final Ranking by Net Income

Now you know which 5 deposits — out of the 532 currently available in Armenia — offer the highest return for a one-year placement.

Use the AFM service to make sure your financial decisions always bring maximum income.