Terms
tariffs
Buy, build and renovate your apartment with Fast Bank
Residential or commercial real estate acquisition (including parking lot)***, development, renovation or loan transfer from another financial institution
Resident and non-resident
Individuals aged 18-65
AMD
USD*
36-240 months
Moreover, renovation loans with a term of more than 120 months can be provided if the client or the person running the joint household has another mortgage loan
3,000,000-200,000,000 AMD
8,000-500,000 USD
Annual nominal interest rate (Adjustable fixed interest rate): the interest rate may change starting from the 37th month.
13,5%
10%
14,47%
10.56%
Annuity/Differentiated
(equal monthly payment of principal and/or interest)
Non-cash:
Lump-sum for acquisition and refinancing;
Lump-sum or in installments for renovation and development.
None
None
None
None
0.1% daily
0.13 % daily
Real estate to be acquired, developed or renovated/right to purchase and/or other real estate
Minimum sales price of the property being purchased
10% - In the case of purchasing property from the development company.
20% - In case of purchasing property from the secondary market, if the property being purchased is in Yerevan.
30% - in case of purchasing property from the secondary market, if the property is in a region.
30%
90% - in case of purchasing property from a development company, renovating property in a dilapidated condition, and in case of development loans.
70% - in case of purchasing property from the secondary market, if the property being purchased is in Yerevan.
70% - in case of renovation loans and acquisition of property from the secondary market, if the property is located in a region.
70%
In the case of acquisition loans, if the maximum loan-to-value ratio is 50%, then simplified income-expense analysis is performed (for loans of up to AMD 30 million or of equivalent value in USD).
In the case of purchasing property from the primary market, no property appraisal is performed; the basis for the appraised value is the value indicated in the sales price statement.
In the case of purchasing property from the secondary market, the pledged property is appraised by an independent appraiser cooperating with the Bank, with the appraised value being the smaller of the acquisition and appraised values.
• Statement on restrictions: AMD 10,000,
• Fee for state registration of rights: AMD 26,000–52,000,
• Fee for notary certification: AMD 12,000-30,000,
• Pledged property appraisal fee: AMD 15,000-25,000.
Regardless of fees paid to third parties as specified in these terms, the fees for services provided by them may change.
OTI≤ 60%
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,
• Days past due (current and repaid) in the last 12 months must not exceed 30 days
Place of loan issuance:
In all branches of the bank
* Foreign currency loans are provided to:
- only non-resident individuals; in addition, co-borrowers must also be non-residents.
** A prerequisite for granting a mortgage loan for the purchase of a parking space is the availability of a mortgage loan at the Bank for an apartment (right of purchase) at the same address.
! Before signing the agreement, the Organization will provide to you an Individual Key Fact Statement for the mortgage loan, which summarizes essential terms of the loan to be extended to you.
The client receives the offer to sign a contract seven days in advance, and a seven-day cooling-off period.
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.