Freedom Broker Armenia has increased rates for long-term placements

Freedom Broker Armenia has increased rates for long-term placements (repo transactions). According to SOFR and EURIBOR, as of January 9, the rates are up to 6.4% in EUR and up to 8.7% in USD.

Freedom Broker Armenia continues continues to improve the conditions for its clients to invest free cash in their savings accounts ─ now the interest paid on USD and EUR savings will be linked to the floating SOFR and EURIBOR rates. The changes entered into force starting from 9 January 2024.

The yield on repo transactions also increased and now reaches a level 1.5 times higher than SOFR and EURIBOR rates for a fixed term of 12 months. For 3-month and 6-month placements, coefficients of 1.1 and 1.25 respectively are applied to SOFR and EURIBOR rates to calculate interest. In addition, holders of repo transactions of more than 100,000 EUR/USD are eligible for a bonus of 0.4% to 0.8% per annum, depending on the currency and term of placement. Thus, as of 9 January, the maximum yield of Freedom Broker Armenia repo transactions plan including bonuses was 8.762% for USD and 6.422% for EUR. Previously, investors who chose this instrument received up to 5.85% for savings in USD and up to 3.6% for savings in EUR.

Thus, holders of savings D-accounts on the Freedom Broker Armenia investment platform will receive interest equal to the floating SOFR rate on their USD savings and interest equivalent to the EURIBOR rate on their EUR savings. As of 9 January, the SOFR and EURIBOR rates were 5.31% and 3.888% respectively. Interest is accrued daily.

For both instruments there is no limit on the maximum amount of savings. The minimum deposit amount is USD/EUR 1,000. There is no minimum amount to receive interest from the D-account, but if the calculated interest is less than 0.01 USD, no interest is accrued.

Starting from 29 January 2024 Freedom Broker Armenia will also change its margin lending fee to 0.049315% per day compared to the previous fee of 0.032877% per day.