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.
Loans commissions, fees and other applicable charges - Lending operations
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 documents must not be older than 15 days at the time of receipt.
Due to various circumstances, additional documents and information may be required.
*The certificate must contain the amount of the customer’s net monthly salary/income after taxes, employer address, telephone numbers, signature of the head of the organization issuing the certificate and stamp, outgoing number, date of issue.
Loan calculation example
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.
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.