Fast Bank review
Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Fast Bank pays a headline rate of 7% to 10.25% on fixed deposits, well above the 6% typical of term deposits. It suits savers in Armenia who want a long locked rate and a current account with a monthly fee of AMD 0.
Key facts
- Best for
- Armenian savers wanting a fixed deposit rate and a free current account.
- Headline rate
- 7% to 10.25%↗
- Rate type
- Fixed↗
- Term
- 1 to 18 months↗
- Minimum deposit
- AMD 50,000↗
- Access terms
- Term 31-550 days; deposit with additional deposits and without withdrawals; interest paid monthly or at term end; automatic extension on expiry↗
- Monthly fee
- AMD 0↗
- Account kind
- Fixed↗
- Legal entity
- Fast Bank CJSC↗
- Headquarters
- Armenia↗
- Founded
- 1994↗
- Support channels
- Email, Phone, Chat, Help-centre↗
- Pricing model
- No monthly fee, Fixed rate
- Official website
- fastbank.am
Loans
- APR
- 13.81% to 23.1%↗
- Loan amount
- AMD 100,000 to AMD 20,000,000↗
- Arrangement fee
- 0 AMD↗
- Credit check
- Hard↗
- Lender type
- Direct lender↗
- Free early repayment
- Yes↗
- Eligibility
- Individuals aged 18-63*, who are registered in the Republic of Armenia; documented income and 3-6 months of work experience↗
- Origination fee (%)
- 0%↗
- Loan types
- Personal, Credit-line, Secured, Student↗
- Credit needed
- Good↗
- Features
- Credit line
Mortgages
Debit cards
- Card type
- Debit↗
Facts checked September 26, 2026, 8 sources
Apps and profiles
- Get the app
- App StoreGoogle Play
Pros and cons
Pros
- Fixed deposit rate of 7% to 10.25%, well above the 6% site median for term deposits
- Current account runs at a monthly fee of AMD 0
- Deposits can run 1 to 18 with interest paid monthly or at term end, and extend automatically on expiry
- Unsecured consumer loans carry a fee of 0 AMD with free early repayment
Cons
- A minimum deposit of AMD 50,000 is far above the €136.88 median, so small sums are locked away out of reach
- Loans run a hard credit check, and the 13.81% to 23.1% range sits high against the 16% median
Who it suits
- Savers with a lump sum who can leave it untouched for the full term
- Anyone wanting a current account and a fixed deposit at one bank
- Borrowers with documented income who can pass a hard credit check
Who should look elsewhere
- Savers starting small, since the minimum deposit is AMD 50,000
- People who need instant access to their money, as withdrawals are not covered by the access terms
- Borrowers with thin files, given the hard credit check requirement
Fees and currency costs
The current account carries a monthly fee of AMD 0, so day to day banking costs nothing to hold. Deposits are the one place a threshold bites: the minimum is AMD 50,000, far above the €136.88 median across term deposits, which puts a floor under how much the account will take. Unsecured consumer loans add an arrangement fee of 0 AMD, and mortgages list a product fee of AMD 0.
Rates and terms
Deposits pay a fixed rate of 7% to 10.25% and run 1 to 18, with interest paid monthly or at term end and automatic extension at expiry. That rate sits well above the 6% median on the term deposit list. On the borrowing side, unsecured consumer loans price at an APR of 13.81% to 23.1%, and mortgages start at an initial rate of 13.5% with an APRC of 14.47%.
How Fast Bank compares
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Where Fast Bank is available
- Available
- Armenia
- Licence in Armenia
- Central Bank of Armenia (CBA), checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
How much interest does Fast Bank pay on a deposit?+
Fixed deposits pay a headline rate of 7% to 10.25%, which compares with a 6% median across term deposits on the site. The rate is fixed for the whole term, so it does not move while the money is in place.
Can I add to a deposit before it ends?+
The access terms allow a deposit with additional deposits but not withdrawals, so a top up is fine and a withdrawal is not. Interest is paid monthly or at the end of the term, and the deposit extends automatically on expiry. Terms run 1 to 18.
What is the minimum I need to open a deposit?+
The minimum deposit is AMD 50,000, which is a high floor next to the €136.88 median for term deposits. That threshold sits on the deposit product rather than the current account, so a saver with less to put away would start with the current account and its monthly fee of AMD 0.
Does the current account cost anything?+
The current account carries a monthly fee of AMD 0, and the account model is listed as no monthly fee. The standard card linked to it is a debit card. Support is handled through email, phone and chat, so account questions can go to a person or to the help centre.
How much can I borrow and what does it cost?+
Unsecured consumer loans run from AMD 100,000 to AMD 20,000,000 at an APR of 13.81% to 23.1%. The arrangement fee is 0 AMD, and early repayment is free, so clearing the balance early costs nothing.
Who can take out a loan?+
Applicants need to be adults registered in the Republic of Armenia, with documented income and a waiting period of work experience behind them. The loan is arranged directly by the bank, not through a broker or marketplace.
How safe is Fast Bank with my money?+
Fast Bank is regulated by the Central Bank of Armenia, and the deposits are offered as a fixed account. Support runs through email, phone and chat if a question comes up on a deposit.
Does Fast Bank lend against a property?+
Mortgages run at an initial rate of 13.5% with an APRC of 14.47%, fixed for 3, and the maximum loan to value is 90%. They cover purchase and remortgage purposes.
Sources
- fastbank.am checked September 26, 2026
Backs: Support channels
“Phone Number (+374) 10 510 000; Email Address; Contact Us; Frequently asked questions”
- fastbank.am/en/aboutus checked September 26, 2026
Backs: Founded, Headquarters, Legal entity, Licences
“The history of Fast Bank began on April 1, 1994, when the first branch of "Fast Credit" LLC opened at 37 Abovyan St. in Yerevan”
- fastbank.am/en/individual/accounts/bank-account checked September 26, 2026
Backs: Pricing model, Monthly fee
“Bank account maintenance No fee applies; The interest rate specified in the Agreement for the Deposit shall not be subject to change during the contractual term.”
- fastbank.am/en/individual/deposits checked September 26, 2026
Backs: Access terms, Account kind, Headline rate, Minimum deposit, Rate type, Term
“The deposit is with additional deposits and without withdrawals. Deposit deposits can be made at any branch of the Bank.”
- fastbank.am/en/individual/loans/mortgage/mortgage-loans-2 checked September 26, 2026
Backs: APRC, Fixed period, Initial rate, Maximum loan to value, Product fee, Purpose
“MORTGAGE LOANS, AMD: Effective annual interest rate 14,47%”
- fastbank.am/en/individual/loans/non-collateral/unsecured-... checked September 26, 2026
Backs: Loan amount, APR, Credit check, Credit needed, Eligibility, Free early repayment, Lender type, Arrangement fee, Origination fee (%)
“UNSECURED CONSUMER CREDIT - Loan amount 100,000-20,000,000 AMD”
- fastbank.am/hy/individual/loans/non-collateral checked September 26, 2026
Backs: Loan types
“Unsecured consumer loan, student loan, AKN cash loans, card credit line; secured (collateral) loan under Loans”
- fastbank.am/hy/individual/loans/non-collateral/card-credi... checked September 26, 2026
Backs: Features
“Card credit line: mandatory payment subject amount 5% of the amount withdrawn as of the last day of the previous month, restructurable at the end of the term”
- fastbank.am/en/individual/cards/types/standart-cards checked September 26, 2026
Backs: Card type
“Choose your AknCard”
Compiled from 9 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Deposit protection.
Related by the facts
Fast Bank
Armenian savers wanting a fixed deposit rate and a free current account.