• Processing time: 15 minutes ¹
• A free VISA Student card
• 20% return on interest rates in case of excellent progress
• Guaranteed provision of follow-up student loans in the future
• Provision of loans without documental verification of income
• Fixed -income individuals provision of loans without guarantees ²
• No collateral or guarantee required ³

¹ subject to provision of all required documents

² for student loans of up to 500,000 AMD

³ for customers who have no credit history or have had delinquencies of more than 30 days within the last 12 months, and/or are up to 25 years , one guarantee or collaterial required.

Student loans are provided for the partial or full repayment of tuition fees of resident individuals, having documented or stable income, supported by analysis, being students of state educational institutions or educational institutions with state certification.

A borrower of a student loan can be a student of an educational institution, his/her parents, spouse, parents of spouse, sisters, brothers or spouse of sister or brother, sisters and brothers of the student’s parents’, and their spouses and children, student’s grandmothers and grandfathers.

• Currency - AMD,
• Minimum duration - 6 months,
• Maximum duration - 12 months,
• Minimum amount - not defined,
• Maximum amount - 1,000,000 AMD,
• Annual interest rate:
  • for 6 months - 14.5%
  • for 12 months - 18%
• Repayments are made in equal monthly installments, calculated on the decreasing actual principal of the loan.

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

• The nominal interest rate of the loan is not subject to change by the Bank during the term of the loan agreement,
• The amount of the loan is transferred to the account of the educational institution,
• Other terms and conditions for the provision of student loans may apply based on agreements between the Bank and educational institutions,
• The loan application is processed and the decision is communicated to the borrower on the day of the provision of all required documents. The loan is disbursed during the same banking day,
• Decisions to provide the loan or refusal to provide thereof 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 of the loan.

Penalties applicable in case of delinquencies against obligations of borrowers

Loan calculation example

• Loan amount: 250,000 AMD
• Interest rate: 18%
• Maturity: 12 months
• Service fee: 2%
• For the loan described in the example, monthly repayment will equal 22,909 AMD
• Effective annual rate of interest: 24%
  
  

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.


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