Terms
tariffs
Buy, build and renovate your apartment with Fast Bank
Real estate acquisition
AMD
AMD 3 000 000 – 60 000 000
120-240 months
* For acquisition or development loans exceeding AMD 35,000,000 and/or where the debt-to-income ratio is 45%-60%, the interest rate is 15.5% and 16.5%, respectively, and in the case of renovation, the interest rate is 16% and 17%.
** If the loan meets the energy efficiency criteria, the interest rate goes down by 0.5 percentage point, with the exception of the “Jerm Ojakh” loan type.
*** In the case of Property Acquisition (when the collateral is the title, or in case of installment loan) and development loans, the loan interest rate goes up by 3 percentage points, respectively, until the loan is refinanced.
120-180 months - 13.8-14.6%
181-240 months - 13.5-15.5%
! For employees of "Fast Bank" CJSC and its affiliated organizations, the annual nominal interest rate for this loan type is set 1 percentage point lower.
Real estate being acquired
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)
Minimum 30% of the appraised market value of the property or 10%, if:
1․ additional residential real property is pledged or
2. there is liability insurance amounting to the difference between 30% of the appraised market value of the purchased residential real property and 10 or more percent of the prepayment made by the Borrower
70% or 90% of the assessed market value of the property, if:
1․ Additional residential real estate is pledged, and the loan amount cannot exceed 70% of the total 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.
70% of the market value of the property
Also, in case of a difference between the estimated market value of the Property and the purchase price, the smaller of amounts shall be taken into account.
The pledge is subject to appraisal by an independent property appraisal agency cooperating with the Organization.
Real property insuarance: Purchased/Under construction/Renovated
Borrower’s accident insurance
! Insurance is provided in the amount of the loan balance in favor of the Organization for the entire period of the Loan validity.
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.
! 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.
Loan disbursement method:
non-cash
Loan processing location:
at all branches of the Bank
Methodology for calculating the adjustable fixed interest rate: