US Dollar Deposits in Armenia: Where to Find the Best Rates

In addition to deposits in Armenian drams, most banks in Armenia also offer savings in foreign currencies such as US dollars, euros, and Russian rubles. While foreign currency deposits tend to have lower interest rates, they remain a reliable tool for diversification and savings protection.

For comparison:

1. Dram deposits: 3%–11%
2. Foreign currency deposits: 1%–5%

In this article, we review which Armenian banks offer the best terms for deposits in US dollars. Based on current offers, the most competitive options are available from Evocabank, Artsakhbank, and Byblos Bank Armenia.

Top 3 USD Deposits in Armenia (2025)

1. Evocabank – EVOCA Online Deposit

Key Terms:

Special Features:

1. Online-only deposit via EvocaTOUCH and EvocaONLINE
2. Can be replenished, but only up to the initial deposit amount
3. Partial withdrawals are not allowed
4. Early termination results in partial retention of accrued interest
5. For deposits longer than 1 year, the interest rate increases by +0.25%

2. Artsakhbank – Term Deposit

Key Terms:

Special Features:

1. Replenishment not allowed
2. Partial withdrawals up to 20% of the deposit are permitted
3. Early closure is possible with partial interest retained

3. Byblos Bank Armenia – Term Deposit

Key Terms:

Special Features:

1. Replenishment and partial withdrawal not allowed
2. Early termination leads to interest recalculation
3. Interest is paid only at the end of the term

Conclusion

As we can see, US dollar deposit interest rates in Armenia currently range from 4.75% to 5.25%.

So how do you choose the right option?

1. Looking for the highest rate? Go with Evocabank
2. Need a lower entry threshold? Choose Artsakhbank — starting from just $150
3. Are you a foreign national? Note that Byblos Bank Armenia requires at least $30,000

Important note:

Most dollar deposits do not allow partial withdrawals, making them best suited for long-term savings. If you plan to terminate your deposit early, the bank will likely recalculate the rate, reducing your return significantly.

To avoid losing interest, we recommend planning ahead and keeping your deposit until the full term ends.

Use smart comparison tools to evaluate USD and other foreign currency deposits on AFM — and find the most profitable option for your financial goals.