Consumer loans without collateral up to AMD 5,000,000

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Consumer credits without collateral

Consumer loans without collateral up to AMD 5,000,000

Consumer loans without collateral up to AMD 5,000,000 for up to 60 months.

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Currency

AMD

Minimum amount

50,000 AMD

Securety

without pledge

Duration

9-60months

Maximum amount

5,000,000 AMD

Provision terms

Advantages

To obtain a credit

Useful information

Consumer credits are provided to resident individuals who have documented or verified stable income.

Currency: AMD
Duration: maximum up to 60 months, minimum - 9 month
Minimum amount: 50,000 AMD
Maximum amount: 5,000,000 AMD
Annual interest rate:
- in case of duration of 9-11 months - 12.9-13.9%
- in case of duration of 12-23 months - 14.9-15.9%
- in case of duration of 24-60 months - 16.9-17.9%
Repayment is made in equal monthly installments
Loan collateral: without it, on the basis of the borrower's financial flow
Interest amount calculation: daily towards the loan reducing balance

Read more:
Loans commissions, fees and other applicable charges - Lending operations

Low interest rate
No monthly service fee
No loan study fee
Providing a loan within the same banking day
Loan is provided without collateral and without a garantee*
Loans are provided without income document to individuals with a permanent income .

* Loan is provided on a cash flow basis. Due to the Borrower's creditworthiness assessment, the guarantor(s) may be required

Required documents:

Personal identification documents of the applicant,
Social services number,

The following documents may also be required:

Statement from the place of employment or other documents verifying the customer’s income. The statement/documents should specify the customer’s net monthly income after all applicable taxes. If the customer is engaged in entrepreneurial or licensed activities, tax reports and founding documents (with copies) of the legal entity or sole proprietorship must also be provided,
Copies of personal identification documents of guarantors,
Other documents, as requested (e.g. statement(s) from the place(s) of employment of family member(s).

* The statement must contain the address and phone number of the employer, the signature of the head of the organization and the official stamp of the organization, an outgoing reference number and the date of issuance.

Credits are disbursed non-cash,
Decisions are based on the assessment of the customer’s credit capacity,
Credits can be obtained at the branches of the Bank,
No penalties apply for early repayments,
Credit is given for the purchase of personal, family, household and other goods, vehicles, services and other consumer needs,

Credit calculation example

Loan amount – 2,500,000 AMD
Loan annual interest rate - 16.9 %
Loan period – 60 months
Commission fee - 3%
In this example the monthly amount to be repaid will comprise 61,997 AMD
Actual annual interest rate will comprise 19.93%
Daily interest amount will comprise Loan amount (balance) × Loan interest rate ÷ 365 = (2,500,000×16.9%÷365) = 1157.53 AMD

Learn more:

Calculate your monthly repayment here
Penalties applicable in case of delinquencies against obligations of borrowers

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.

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

Provision terms

Consumer credits are provided to resident individuals who have documented or verified stable income.

Currency: AMD
Duration: maximum up to 60 months, minimum - 9 month
Minimum amount: 50,000 AMD
Maximum amount: 5,000,000 AMD
Annual interest rate:
- in case of duration of 9-11 months - 12.9-13.9%
- in case of duration of 12-23 months - 14.9-15.9%
- in case of duration of 24-60 months - 16.9-17.9%
Repayment is made in equal monthly installments
Loan collateral: without it, on the basis of the borrower's financial flow
Interest amount calculation: daily towards the loan reducing balance

Read more:
Loans commissions, fees and other applicable charges - Lending operations

Advantages

Low interest rate
No monthly service fee
No loan study fee
Providing a loan within the same banking day
Loan is provided without collateral and without a garantee*
Loans are provided without income document to individuals with a permanent income .

* Loan is provided on a cash flow basis. Due to the Borrower's creditworthiness assessment, the guarantor(s) may be required

To obtain a credit

Required documents:

Personal identification documents of the applicant,
Social services number,

The following documents may also be required:

Statement from the place of employment or other documents verifying the customer’s income. The statement/documents should specify the customer’s net monthly income after all applicable taxes. If the customer is engaged in entrepreneurial or licensed activities, tax reports and founding documents (with copies) of the legal entity or sole proprietorship must also be provided,
Copies of personal identification documents of guarantors,
Other documents, as requested (e.g. statement(s) from the place(s) of employment of family member(s).

Useful information

Credits are disbursed non-cash,
Decisions are based on the assessment of the customer’s credit capacity,
Credits can be obtained at the branches of the Bank,
No penalties apply for early repayments,
Credit is given for the purchase of personal, family, household and other goods, vehicles, services and other consumer needs,

Credit calculation example

Loan amount – 2,500,000 AMD
Loan annual interest rate - 16.9 %
Loan period – 60 months
Commission fee - 3%
In this example the monthly amount to be repaid will comprise 61,997 AMD
Actual annual interest rate will comprise 19.93%
Daily interest amount will comprise Loan amount (balance) × Loan interest rate ÷ 365 = (2,500,000×16.9%÷365) = 1157.53 AMD

Learn more:

Calculate your monthly repayment here
Penalties applicable in case of delinquencies against obligations of borrowers

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.

Information provided to the credit registry

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

Financial assistant

In case of any inconsistencies between the published Armenian and English information, the Armenian version prevails.
Updated: 01.08.2018 14:31

82-84 Aram Street, Yerevan, Armenia

Tel: (+374 10) 31 88 88

Fax: (+374 10) 54 34 85

E-mail: acba@acba.am

Financial system mediator