• Factors for a positive loan decision are customer credit rating;
• Factors for rejection of loan: insufficient financial performance as a result of the analysis, bad credit history of the customer, insufficiency/lack of required collateral, professional opinion of the Business Advisor, professional opinion of the Credit Committee;
• The decision on the loan application is made by the customer within 20 banking days after submitting the application package of the necessary documents;
• The decision made by the Bank as a result of the consideration of the loan application is communicated to the customer within 1 banking day;
• The loan is provided within 3 banking days after the submission of all documents and completion of the mortgage process by the customer;
• In the case of foreign currency loans, changes in foreign exchange rates may affect loan repayments.
• In the case of foreign currency loans, the basis for calculating the annual effective interest rate is the exchange rate published on the official website of the Central Bank of Armenia as of the loan disbursement date.
• The loan can be repaid ahead of the contract period, in which case the customer pays the interest accrued for the actual term of the loan, and if the total repayment period between the repayments specified in the loan schedule exceeds twice the total amount to be repaid within the loan schedule, also 0-5% of the exceeding part shall be paid;
• In case of interest rate fluctuations of the attracted and placed funds by the Bank in the financial market and/or change in the financing interest rate and/or the existence of such preconditions and/or in case of non-targeted use of the loan by the Borrower, the Bank may unilaterally change the interest rates and commission fees, notifying the Borrower 30 calendar days in advance;
• If the loan is provided on the basis of a collateral of real estate, vehicle, agricultural and other equipment, machinery and the property is valued at 30 million AMD and higher, then the property shall also be valued by a qualified independent valuator cooperating with the Bank;
• The loan is processed in the Bank's branches;
• Loan repayments are made in the following order (in case of overdue obligations):
• Fine/penalty,
• Interest amount,
• Principal.

Learn more:

• Business loan calculator
• Procedure for calculating daily interest
• Penalties applied in case of non-fulfillment of the obligations by the borrower duly
• Qualified independent valuation companies cooperating with the Bank

YOU HAVE THE RIGHT TO COMMUNICATE WITH YOUR FINANCIAL ORGANIZATION IN YOUR PREFERRED METHOD - BY MAIL OR EMAIL. RECEIPT OF INFORMATION ELECTRONICALY IS THE MOST CONVENIENT. IT IS AVAILABLE 24/7, FREE OF THE RISK OF LOSS OF PAPER INFORMATION AND PROVIDES CONFIDENTIALITY.

Confiscation of collateral

THE PLEDGED PROPERTY CAN BE CONFISCATED, IF THE BORROWER DOES NOT DULY REPAY THE INTEREST AMOUNTS AND LOAN AMOUNT. IF THE COLLATERAL VALUE IS INSUFFICIENT, THE BORROWER’S LIABILITIES WILL BE REPAID AT THE EXPENSE OF OTHER PROPERTY OF THE BORROWER.

Information, provided to the Credit Registry

ATTENTION: IN CASE OF NON-FULFILLMENT OR IMPROPER FULFILLMENT OF YOUR LIABILITIES, THE CREDITOR WILL SEND YOUR DATA TO THE CREDIT BUREAU AFTER 3 WORKING DAYS, WHERE YOUR CREDIT HISTORY IS FORMED.

HAVING A BAD CREDIT HISTORY CAN BE AN OBSTACLE FOR YOU TO RECEIVE OTHER LOANS IN THE FUTURE.

During the validity of the contract, the statements are provided by email, at a frequency of thirty days, if the customer does not choose another way of communication.