Terms
tariffs
Buy, build and renovate your apartment with Fast Bank
For the purchase or construction of an apartment (from primary and secondary markets) or an individual residential house in the Republic of Armenia*
Also, for the reconstruction of an individual residential house and the development of a homestead land plot**
Beneficiary
Persons defined by the Government Decisions No. 710-L dated May 16, 2024, and its subsequent amendments under Decision No. 926 dated June 25, 2026.
Loan currency
AMD (Armenian Dram)
For loan amounts up to 120 months
the certificate value:
Loan term
For financing up to the Certificate amount
120 months
For financing exceeding the Certificate amount
120-240 months
Loan amount
AMD 2,000,000 - 55,000,000 If a positive balance exceeding AMD 100,000 remains after the utilization of the certificate, it can be used as follows: 1) Up to AMD 5,000,000 for the acquisition of agricultural land, |
Up to AMD 4,000,000 for the renovation of property acquired under the project.
Support amount
The amount of support is determined based on the location chosen by the beneficiary family, specifically: 1. AMD 5,000,000 per family member, if the property is located in one of the areas listed in Appendix 1 attached to the document. 2. AMD 4,000,000 per family member, if the property is located in the areas included in Appendix 2 attached to the document. |
AMD 3,000,000 per family member, if the property is located in all other settlements not included in points 1 and 2, except for the territories located in zones 1 and 2 of Yerevan.
Nominal annual interest rate
(Fixed)
13%
Annual percentage rate |
(APR)
13.9%-14.03% |
Lending method
Non-cash
In case of acquisition: Lump-sum
In case of construction: In installments
Total loan obligations to total income (OTI)
For financing up to the Certificate amount
Not calculated
For financing exceeding the Certificate amount
60%
Loan provision fee
None
Monthly loan servicing fee
None
Penalty on early repayment
None
Insurance
None
Penalty on overdue principal amount
0.1% daily
Penalty on overdue interest
0.13% daily
Security
The real estate being acquired/constructed, the right to purchase real estate, and if necessary, additional residential real estate.
Loan-to-value ratio
For financing up to the Certificate amount
Up to 80%
For financing exceeding the Certificate amount
· 90% in case of property acquisition from a developer and for construction, · 80% for acquisition from the secondary market in Yerevan, |
70% for property acquisition in the regions of the Republic of Armenia.
Down Payment
(in case of acquisition)
For financing up to the Certificate amount | 20% of the Certificate value | ||
For financing exceeding the Certificate amount | From Constructor | 10% | |
Secondary Market | Yerevan | 20% | |
Regions | 30% | ||
Collateral valuation
Maximum value of acquired/constructed property
AMD 55,000,000
In the case of individual residential house construction, the cost of land acquisition may also be included in the total value, but not exceeding AMD 4 million.
Maximum deadline for submitting the Completion Act for individual house construction
Within 18 months from the date of execution the loan agreement
Special Conditions |
1. All members of the beneficiary family must hold citizenship of the Republic of Armenia. 2. The living space of the acquired or constructed apartment or individual residential house must not be less than 9 square meters per family member. 3. The purchase price of the acquired apartment, the right to purchase an apartment from a building under construction, or the individual residential house must not exceed AMD 55 million. |
Guarantee
Individual/Legal entity (by decision of the authorized body approving the loan)
Requirements for the pledgor
The ownership right to the acquired/constructed property is registered in the name of all adult members of the beneficiary family.
Credit History Requirements for
Borrower/Co-borrower/Pledgor
· Loans active at the moment of loan provision and guarantees provided for the obligations of other persons must not be overdue or classified as "watched" or stricter risk classes. · The total sum of overdue days for all loans (both closed and active) during the last 12 months must not exceed 30 calendar days. EXCEPTION: In the case of 100% subsidized mortgage loans, the beneficiaries' overdue loan obligations and the presence of CES (Compulsory Enforcement Service) arrests/seizures are not considered obstacles to the utilization of the certificate (loan approval). |
Third-Party fees paid by the borrower
1) Reference on property restrictions: AMD 10,000 2) State registration fee for ownership rights: 3) Notarial legalization fee: AMD 12,000 - 30,000 4) Pledged property appraisal fee: AMD 15,000 - 25,000
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Regardless of the third-party fees specified in these terms, the fees for services rendered by them are subject to change.
! Cases not regulated by these terms and conditions are governed by the RA Government Resolution No. 710-Լ of 16 May 2024.
In case of development, sample plans of houses to be constructed
* The construction of an individual residential house is carried out on the basis of reusable sample plans and cost estimate documents for construction of individual residential houses, based on sample plans and cost estimate documents developed by licensed organizations, processed in due procedure of expert examination and agreed with the Urban Development Committee of the Republic of Armenia, through urban development entities that are license holders of individual residential houses construction.
Acquisition of rural property
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.
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.