Terms
tariffs
Full or partial payment of tuition fees for students studying in paid bachelor's, master's and clinical residency educational programs (continuous and integrated) at state accredited educational programs of the Republic of Armenia or non-state higher education institutions with specialty-accredited educational programs
A natural person student who is a citizen of the Republic of Armenia, and in the case of a student aged 16 to 18, the consent of the parents or guardian is also required.
AMD
12 months
Study period, plus 6 years, but not more than 10 years
(the loan can be provided for a shorter period only with the client's consent, but not less than 12 months)
Maximum AMD 4,000,000 for the entire period of study, in a maximum of 5 installments, the amount for each installment not to exceed the amount of tuition fee for one academic year, which shall not be more than AMD 800,000
9%, of which the state subsidy is 2% for all students, and 3% for students who have demonstrated excellent performance during the previous academic year
9.4%
None
None
Monthly annuity payments, with only interest being repaid during the course of study (maximum 5 years), and after completion of the course, equal repayments of the loan principal and interest are made
Non-cash transfer of the loan amount to the bank account of the educational institution specified in the statement submitted by the university
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 penalty on early repayment applies.
Guarantee of the borrower's family member(s), guardian(s) or other persons whose age does not exceed retirement age before the loan repayment.
The guarantor must have a registered income. If the student has a registered income, the guarantor may not have one.
Not required
In the event of interrupting the education*, the loan is considered non-qualifying.
Borrowers may not be those students whose loans provided previously under this program have been recognized as non-qualifying by the Company. A loan that does not meet the requirements of the RA legislation on Anti-Money Laundering and Terrorist Financing is not considered a qualified consumer loan.
Loan processing location:
at all branches of the Bank
* Years of conscription into the RA Ministry of Defense Armed Forces for compulsory military service are not considered interruptions in education.
! Before signing the agreement, the Bank will submit to you and the guarantor an Individual Consumer Loan Key Fact Statement that summarizes essential terms of the loan to be extended to you.
! ! Cases not regulated by these terms and conditions are regulated by the procedure for refinancing consumer loans of the “Home for Youth” Refinancing Credit Organization CJSC and the terms and conditions of Student Loans.
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.