Terms
tariffs
Buy, build and renovate your apartment with Fast Bank
Primary Market
Secondary Market
Citizen of the Republic of Armenia or a person without RA citizenship, whose spouse is a citizen of the Republic of Armenia
Acquisition of residential real estate or residential real estate under construction for permanent residence
Acquisition of existing (completion level - 80% or more) residential real estate for permanent residence
AMD
AMD 1 – 27.75 million*
*Acquisition and estimated market value shall not exceed, respectively:
AMD 30 million and 31 million
AMD 1 – 22.5 million*
*Acquisition and estimated market value shall not exceed, respectively:
AMD 25 million and 26 million
120-180 months
120-240 months
Interest rate of the Bank /before subsidy/:
120-180 months - 7․5%
Interest rate of the Bank /before subsidy/:
120-144 months - 7.3%
145-180 months - 8%
181-240 months - 9%
120-180 months - 5.3-5.7%
(including subsidy)
120-144 months - 5.1-5.5%
145-180 months - 5.6-6.3%
181-240 months - 4.9-6.3%
(including subsidy)
In the case of real estate purchased in Yerevan, the government subsidy rate is 2%
In the case of real estate purchased in the regions of the Republic of Armenia, the government subsidy rate is 4%
None
0.1% daily
0.13% daily
- The borrower has the right to repay the loan in full or in part before the due date.
- No early repayment penalty is applied
Real estate to be acquired, as well as additional residential real estate if necessary
! (The mortgage agreement is notarized)
From the estimated market value of the property:
1․ Minimum 20%,
2․ Minimum 10%, if
- Additional residential real estate is pledged,
- There is liability insurance in the amount of the difference between 20% of the estimated market value of the residential real estate being purchased and the down payment of 10% or more made by the Borrower.
From the estimated market value of the property
1․ Minimum 30%,
2․ Minimum 10%, if
- Additional residential real estate is pledged,
- There is liability insurance in the amount of the difference between 30% of the estimated market value of the residential real estate being purchased and the down payment of 10% or more made by the Borrower.
80% of the assessed market value of the property,
- 70% of the assessed market value of the property,
- Or 90%, if:
1. Additional residential real estate is pledged, and the Loan amount cannot exceed 70% of the total assessed value of the real estate, or
2. There is liability insurance in the amount of the difference between 30% of the estimated market value of the residential real estate being purchased and the down payment of 10% or more made by the Borrower.
The collateral is appraised by an independent property appraisal agency cooperating with the Bank.
The acquisition and assessed value of the real estate being acquired are compared against the average prices for real estate (the most recent publicly available data) published by the National Statistical Service of the Republic of Armenia, based on the area and location of the apartment. In particular, the product of the area of the apartment and the average price per square meter for the given zone shall not exceed the maximum amounts of estimated market values set forth in these terms.
Individual/Legal entity (required as needed)
Insurance of the acquired real estate
Accident insurance of the borrower
No down payment insurance (if necessary)
! Insurance coverage is provided for the outstanding loan balance in favor of the Bank throughout the entire term of loan
Citizen of the Republic of Armenia or a person without RA citizenship, whose spouse is a citizen of the Republic of Armenia, including:
- Young families in which the combined age of the spouses does not exceed 70, or
- Young single parent aged 18-35
The Borrower's spouse and each family member thereof
A family member is the spouse, the spouse's parents, and siblings.
Annuity
/equal monthly payment of principal and interest/
! Before signing the agreement, the Bank will submit to you an Individual Mortgage Loan Key Fact Statement that summarizes essential terms of the loan to be extended to you.
! Actual interest payments on loans for the purchase of residential real estate from the primary market are fully subject to refund in accordance with the Law “On Income Tax” and the legislation of the Republic of Armenia. Moreover, in this case, there is no interest rate subsidy.
! In case of a difference between the estimated market value of the property and the purchase price, their lowest value is taken into account.