Terms
tariffs
Purchase of a vehicle from the primary market for personal use
Resident individuals aged 18-65*
AMD
12 months
84 months in case of personal use, 60 months in case of providing a taxi service
13.9%
(adjustable)
14.83-18.76%
AMD 2,000,000
AMD 30,000,000
Vehicle to be purchased
OTI≤60%
90%
The Bank provides insurance coverage for pledged car is for the entire term in the amount of the loan balance
In case of personal use:
In case of a down payment of 50% or more or 30%, if the purchase price of the car is AMD 10,000,000 or more, proof of income may not be required, and the annual nominal interest rate of the loan is set at 14.5%
In case of providing a taxi service
In case of a down payment of 50% or more, proof of income may not be required, and the annual nominal interest rate of the loan is set at 17%
Non-cash, lump sum
Annuity/Differentiated
Equal monthly payment of principal and interest/Equal monthly payment of principal
The Bank may require a guarantee from an individual/legal entity (by decision of the authorized body approving the loan)
At the time of loan issuance, existing loans and guarantees provided against the obligations of other persons must not be overdue or classified as controlled or under stricter categories. The total number of days past due for all (repaid and current) loans during the last 12 months must not exceed 30 calendar days.
Borrower's ID, Public Services Number
A certificate provided by the car showroom regarding the description and value of the vehicle being purchased
Marriage certificate (if married) or statement on not being married
If married, spouse's ID
Document confirming payment of down payment
Document provided by the car showroom confirming that the vehicle has passed customs clearance
After loan approval
Copy of vehicle registration certificate in the borrower's name
Certificate of title to the vehicle in the borrower's name
Certificate of registration of the right to pledge of the vehicle from the Yerevan Records and Examination Division
None
None
0,1% daily
0,13% daily
Fees for registration of rights arising from agreements (purchase and pledge of a car) with the competent state authority – AMD 2,000
Regardless of the rates specified in these terms, fees for services provided by third parties may change.
Loan processing location:
at all branches of the Bank
* The age of the borrower/pledgor as of the end of the loan term shall not exceed 65 years. If the age exceeds 65 years, the loan will be provided with the involvement of a co-borrower/guarantor, whose age at the end of the loan term shall not exceed 65 years as well.
ATTENTION: THE LOAN INTEREST IS CALCULATED BASED ON THE NOMINAL INTEREST RATE, WHILE THE ANNUAL PERCENTAGE RATE (APR) SHOWS HOW MUCH THE LOAN WILL COST IF THE INTEREST AND OTHER PAYMENTS ARE MADE WITHIN THE ESTABLISHED TERMS AND AMOUNTS. THE PROCEDURE FOR CALCULATING THE APR IS AVAILABLE ON THE BANK’S OFFICIAL WEBSITE.
ATTENTION: IF YOU FAIL TO FULFILL YOUR OBLIGATIONS OR FULFILL THEM IMPROPERLY, THE BANK SHALL, WITHIN 3 BUSINESS DAYS, SUBMIT SUCH INFORMATION TO THE ACRA CREDIT BUREAU AND THE CBA CREDIT REGISTER, WHERE YOUR CREDIT HISTORY IS FORMED. YOU HAVE THE RIGHT TO OBTAIN YOUR CREDIT HISTORY FROM THE CREDIT BUREAU FREE OF CHARGE ONCE A YEAR. ATTENTION: A NEGATIVE CREDIT HISTORY MAY HINDER YOUR ABILITY TO OBTAIN A LOAN IN THE FUTURE.
Attention: THE NOMINAL INTEREST RATE OF THIS LOAN MAY BE CHANGED BY THE FINANCIAL ORGANIZATION. The interest rate may be changed no more than twice a year. The maximum threshold for increasing and decreasing the interest rate is set at 3.5 percentage points, which is calculated in relation to the initial interest rate of the loan provided.
In case of early repayment of the loan by the customer, the loan interest is reduced proportionally, as well as service fees, if any, if the latter is accrued on a daily basis, and payments made to third parties are not subject to reduction.
The terms, terms and tariffs for providing statements, their copies, references and other information are published on the Bank's Other Services Tariffs page: https://fastbank.am/hy/more/other.
Adjustable fixed interest rate calculation methodology here.