Terms
tariffs
A loan provided for the purpose of financing the Borrower's personal/family consumption expenses and/or refinancing loans of the Borrower/family members held at other financial institutions
Resident and non-resident individuals of the Republic of Armenia aged 18–65, whose age will not exceed 65 years throughout the entire loan service period or there is a guarantor/co-borrower meeting the above requirements
Natural or Legal Person
Borrower and/or a cohabitant or family member (spouse, child, father, mother, sister, brother)
Armenian dram
Based on income
Without proof of income
24-120 months
24-120 ամիս
2 000 000–100 000 000
Armenian drams
2 000 000–30 000 000
Armenian drams
24-96 months - 15%
97-120 months - 15.5%
24-96 months - 17%
97-120 months - 19%
16.24-21.55%
19.89-23.35%
-2%*** from the current interest rate, but not less than the minimum interest rate thresholds set by the loan type
First 3 years: fixed, then adjustable
Not applicable
Not applicable
Annuity (equal repayment)
Monthly
1. For overdue loan: 0.1% per day
2. For overdue interest: 0.13% per day
Non-cash
o In the case of loans regulated by the RA Law on Consumer Crediting – Not applicable
o In the case of loans not regulated by the RA Law on Consumer Crediting – 3% in case of full repayment of the loan
Real estate
1. Must have a 100% actual completion rate
2. Must not be located in a 3rd or 4th degree emergency building or have a 3rd or 4th degree of emergency
3. The collateral value must be at least 20,000,000 AMD
4. Must not be agricultural land
Maximum value of the pledged property***
1. 90% for property located in Yerevan
2. 75% for property located outside Yerevan in an area acceptable to the Bank****
The collateral is subject to valuation by an independent property valuation agency cooperating with the Bank and/or by a Bank employee. In the case of loans up to AMD 10,000,000, the valuation is carried out only by a Bank employee, free of charge.
1. The refinancing condition applies when at least one of the refinanced loans is secured by real estate.
2. The Bank carries out property valuation, collateral verification and notary expenses.
3. In case of compliance with all the criteria listed below, a simplified analysis is carried out, and lending is carried out on the condition of “income justification”.
o During the last 12 months, the borrower has received no more than 5 unsecured loans.
o The collateral property is located within the scope of this loan type, in an area acceptable to the Bank.
o The refinanced loan(s) is/are serviced by monthly repayments of principal and interest (not just interest payments).
o The borrower must have a service history of at least 12 months on the refinanced loan(s).
o The monthly payment amount (total) of the refinanced loans does not exceed the monthly payment amount of the newly issued loan.
*The mortgagee must not have overdue, controlled or more stringent credit obligations.
**The basis for calculating the interest rate on the refinancing loan is the nominal interest rate on the loan secured by the refinanced real estate.
***The value of the mortgage is determined based on the market value calculated by an independent appraiser, which may be adjusted in accordance with the Bank's internal legal acts.
****The areas accepted for the bank for the property pledged outside Yerevan are: All urban settlements, Akunk, Ayntap, Aramus, Nor Kharberd, Balahovit,
Hayanist, Lusakert, Arbat, Nor Geghi, Getapnya, Jrvezh, Azatashen, Arinj, Geghanist, Dzoraghbyur, Areni, Verin Ptghni, Parakar, Kasakh, Sardarapat, Proshyan, Norapat, Zovuni, Merdzavan, Arzakan, Ptghunk, Goght, Argavand, Arzni, Halidzor, Garni, Tatev, Bjni, Gyulagarak, Geghashen, Odzun, Getargel, Darpas, Ptghni (village), Yenokavan, Kotayk, Qanakeravan, Nor Gyug, Ohanavan, Ushi, Agarak, Karbi, Oshakan, Byurakan, Parpi, Voskevaz, Ujan, Sasunik, Mughni.
The borrower's permissible total of overdue days during the last 12 months must not exceed:
1. days in the case of income-based lending,
2. 15 days in the case of income-based lending.