1 The loan is provided on the basis of financial flow. Guarantor(s) may be required based on the assessment of the borrower's creditworthiness.
Student loans are provided to pay the tuition fees of students partially or fully at educational institutions.
Annual nominal interest rate:
In individual cases, as a result of the creditworthiness assessment, the loan interest rate may be set up to 2.5% higher than the maximum interest rate corresponding to the given period, but not more than 21.5%.
If necessary, a different schedule of interest and principal repayment can be set.
Receive your salary through the Bank and take advantage of preferential terms starting from 16.5% per annum.
You can get acquainted with the types of loans with the salary program here.
Find out more:
About the amount of possible additional payments – Loan Tariffs.
Previous terms of Loan Tariffs
* Based on the assessment of the borrower's creditworthiness, guarantor(s) may be required
How to receive paid tuition reimbursement from income tax?
This is a recommendation.
To reimburse the tuition fees of hired individuals, who acquire only one profession.
Who is it for?
For the students who are citizens of the Republic of Armenia, doing paid work, who in their current studies pursue master's, doctorate or PHD degrees in the higher educational institutions accredited in the Republic of Armenia, with the following specialties:
List of professions
How is the compensation calculated and how much is it?
In order to reimburse the tuition fee, an amount equal to the amount of income tax calculated for the student's salary and equivalent payments during one year shall be reimbursed, but not more than the amount paid for the tuition.
The beginning of the calculation of the amount of income tax subject to refund is 01/09/2020.
How does the student receive the compensation amount?
The refund is transferred to the student's bank account.
What is needed to receive compensation?
It is necessary to submit the following documents to the tax authority:
* These documents must be submitted each time the person applies, and the rest of the documents - only when the person applies for the first time.
The above-mentioned documents are submitted to the tax authority within 3 months after the end of the academic year.
In case of passing all the exams necessary for the successful completion of the academic year after the end of the academic year, the documents shall be submitted to the tax authority within 6 months after the end of the academic year.
Income tax refund application is rejected if:
The necessary documents are:
Documents should not be older than 15 days at the time of acceptance.
Depending on the circumstances, additional documents and information may be required.
Example of loan interest calculation:
*The repayment amount may vary depending on the number of days in a given month.
ATTENTION: LOAN INTEREST IS CALCULATED ON THE BASIS OF NOMINAL INTEREST RATE, AND THE ANNUAL INTEREST RATE SHOWS HOW MUCH THE LOAN WILL COST YOU IN CASE OF DULY PAYMENT OF INTEREST AMOUNTS AND ALL MANDATORY SERVICE FEES. THE ACTUAL INTEREST RATE CALCULATOR CAN BE FOUND HERE.
Complete the Student Loan application directly from the website - Online Student Loan Application.
Find out more:
Loan repayments are carried out in the following order (in case of overdue obligations):
A borrower of a student loan can be a student of an educational institution, their parents, spouse, parents-in-law, sisters, brothers, sister or brother-in-law, siblings of the student's parents, their spouses and children, student's grandparents.
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.
The Bank may unilaterally change the contractual interest rate by notifying the Borrower at least 7 calendar days in case of non-purposeful use of the loan, as well as failure to fulfill the obligations set forth in the loan agreement.
ATTENTION: APPLYING FOR A LOAN, THE BANK WILL PROVIDE YOU, YOUR GUARANTORS (IF AVAILABLE) WITH AN INDIVIDUAL SHEET OF SIGNIFICANT TERMS OF CONSUMER LOAN, WHERE THE INDIVIDUAL TERMS OF CREDIT LINE, PROVIDED TO YOU, WILL BE PRESENTED.
Information provided to the credit registry
ATTENTION: IN CASE OF NOON-PERFORMANCE OR INCOMPLETE PERFORMANCE OF YOUR LIABILITIES, AFTER THREE WORKING DAYS THE CREDITOR WILL PROVIDE THAT DATA TO YOUR CREDIT BUREAU, WHERE YOUR CREDIT HISTORY IS CREATED. YOU HAVE THE RIGHT TO RECEIVE YOUR CREDIT HISTORY FROM CREDIT BUREAU FREE OF CHARGE EVERY YEAR.
ATTENTION: BAD CREDIT HISTORY MAY PREVENT YOU FROM RECEIVING A LOAN IN THE FUTURE.
Please be informed that:
THE GUARANTOR HAS THE RIGHT TO:
ATTENTION: "YOUR FINANCIAL INFORMATION" CHOOSE THE MOST EFFECTIVE CHOICE FOR SEARCHING, COMPARING THE SERVICES OF THE INDIVIDUALS.