As far as I know, Citibank offers the best savings interest rate which is currently at 5%. Is that the best deal right now, or is another bank trying to compete with them by offering a better rate?
Rate of what? And citibank is not the top bank. My mother works there, and its not really international, like countrys like armenia don't have it.
Interest rates for savings account is not really the reason why I choose a certain bank. This is because the interest you'll earn is just very little that you won't even notice it. So I always go for customer service.
The nominal amount of interest you'll earn depends on the amount you originally invest. So if you invest $1mln, then with an annual interest rate of 5% you'll earn $50,000 whereas with 4% you'll make $40,000. Quite a big difference, isn't it? So it's not just the customer service that matters. Different things matter to different people.
5% is a very good rate. I have not seen a rate like that in the UK (close to it but not 5%). Good luck with searching for a better rate. Irina
Hi there, I was just wondering what "really" international banks are present in Armenia? Just interesting, I am half Armenian myself but do not keep track of what's happening there unfortunately. Thanks, Irina