Terms
tariffs
Buy, build and renovate your apartment with Fast Bank
AMD
3,000,000-60,000,000 AMD
60-120 months
* For loans in excess of AMD 35,000,000 and/or where the debt-to-income ratio is 45%-60%, the interest rate is 16% and 17%, respectively.
** If the loan meets the energy efficiency criteria, the interest rate goes down by 0.5 percentage point.
60-84 months - 14.4-15.7%
85-120 months - 15.5-16.5%
! For employees of "Fast Bank" CJSC and its affiliated organizations, the annual nominal interest rate for this loan type is 1 percentage point lower.
Real estate being renovated
Other collateral may be required
! (The Mortgage Agreement is notary certified)
0.1% daily
0.13% daily
None
The borrower has the right to repay the loan in full or in part before the due date.
No early repayment penalty is applied.
Annuity
/equal monthly payment of principal and interest/
70% of the market value of the property
The collateral is appraised by an independent property appraisal agency cooperating with the Organization.
Insurance of the real estate being renovated
Accident insurance of a borrower
! Insurance coverage is provided for the outstanding loan balance in favor of the Organization throughout the entire term of loan.
RA citizen and resident individual aged 21-65, whose age at the loan repayment end date does not exceed 65.
RA citizen and resident individual aged 18-65.
Co-borrowers may be the Borrower's father, mother, spouse, spouse's parents, grandparents, siblings, children, sibling's spouse and children.
Loan disbursement method:
non-cash
Place of loan issuance:
In all branches of the bank
! 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.
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.