• low interest rate
• no monthly commission fee
• no loan exploration fee

Consumer loans are provided to resident individuals who have documented or verified stable income for the purchase of personal, family, household and other goods, vehicles, services and other consumer needs.

• Currency - AMD
• Loan annual interest rate - 16.5-18.5%
• Minimum Duration - 12 months
• Maxumum Duration - 84 months. In case of duration more than 60 months, the loan should be secured with pledge.
• Minimum amount - 50,000 AMD
• Maximum amount - 30,000,000 AMD
• Repayment is made in equal monthly installments, other repayment schedules are also negotiable
• Security - real estate, vehicles, agricultural machinery, equipment, cash and equivalents, jewelry and other goods, also guarantees may be requested
• The sum of the lump sum of the loan and the interests of 12 months shall not exceed 83.33% of the assessed value of the collateral
• Loan interest is calculated on a daily reducing balance of the loan

Required documents:

• Personal identification documents of the applicant,
• Social services number,
  
  

• Credits are disbursed non-cash,
• Decisions are based on the assessment of the customer’s credit capacity,
• The decision on provision of the loan is made within 2-10 business days upon submission of the required documents presented by the borrower. In case of a positive decision on the provision of the loan, it shall be registered within 1-3 business days,
• Credits can be obtained at the branches of the Bank,
• No penalties apply for early repayments
• If the loan is provided based on real estate pledge, and the current real estate is estimated for 30 million AMD or more, it is necessary to do the real estate estimation by an independent estimator who is in cooperation with the Bank.

Loan interest amount calculation example

• Loan amount - 6,000,000 AMD
• Loan annual interest rate - 17 %
• Loan period - 84 months
• Commission - 1%
• In this example the monthly amount to be repaid will comprise 122,615 AMD
• Actual annual interest rate will comprise 18,80%
• Daily interest amount will comprise Loan amount (balance) × Loan interest rate ÷ 365 = (4,000,000×15.9%÷365) = 2,794.52 AMD

• Interest is calculated based on nominal interest rates. The effective annual rate of interest indicates the true cost of the credit for you, subject to timely payment of interest and all applicable fees.
• The interest rate is not subject to change by the Bank during the term of the credit agreement.

• Penalties applicable in case of delinquencies against obligations of borrowers
• Independent appraisal companies cooperating with the Bank

Appropriation of collateral

PROPERTY PLEDGED AS COLLATERAL MAY BE SEIZED / APPROPRIATED IN CASE OF FAILURE BY THE BORROWER TO MAKE TIMELY REPAYMENTS OF LOAN AND INTEREST. WHERE COLLATERAL IS INSUFFICIENT TO MEET ALL RELEVANT OBLIGATIONS, RECOURSE MAY BE MADE TO OTHER PROPERTY OWNED BY THE BORROWER.

Information provided to the credit registry

IN CASE OF FAILURE BY THE BORROWER TO PAY INTEREST ON THE LOAN AND PRINCIPAL THEREOF IN ACCORDANCE WITH THE REPAYMENT SCHEDULE, INFORMATION ABOUT THE BORROWER WILL BE SUBMITTED TO THE CREDIT REGISTRY.

“BAD” CREDIT HISTORY MAY IMPAIR YOUR ABILITY TO OBTAIN LOANS / CREDITS IN THE FUTURE.

Financial assistant