Non-revolving card credit lines are provided with ArCa Credit payment card to the RA citizen individuals, who have documented fixed income,

• Currency - AMD
• Validity – up to 60 months, but not more than card validity; for credit lines both with and without collateral,
• Credit line minimum amount – not specified,
• Credit line maximum amount – 30,000,000 AMD,
• Credit line annual interest rate:
  • Not secured with pledge - based on financial flaw and guarantee – 19.9-21.5% in case of AMD cards
  • Secured with pledge – 18-19.4% in case of AMD cards
    
• Credit line repayments – monthly equal installments (on annuity) to the card account within 1-20 of each month. The credit line is not recoverable in the amount, exceeding monthly repayments,
• Interest amount calculation - daily towards the used credit line,
• Credit line security – real estate, vehicle (car), agricultural equipment, other equipment, funds, other material values, if required also guarantees. The credit lines of up to 500,000 AMD inclusive or equal amount in foreign currency may be provided with the security of cash flow and a guarantee of at least one person, and the credit lines of 500,001-2,000,000 AMD or equal amount in foreign currency – with the security of cash flow and guarantees of at least two persons,
• Sum of the credit line main amount and interest of 12 months shouldn't exceed 83.3% of the estimated pledge value, if applicable,
• Credit line service fee:
  • In case of credit line without collateral, in the amount of 3% of the credit line,
  • In case of a secured credit line, in the amount of 1% of the credit line
    
    

• Identification document,
• The public service number,
• Employer reference and/or document, evidencing the income, which shall at least contain the size of the customer’s monthly salary/income, employer’s name, if possible, also the TIN. If the customer is a private entrepreneur or has a business with relevant certification, a document, evidencing the income can be the tax reports and the statutory documents of the legal entity or private entrepreneur, ^*
• Property documents, photos of the real estate, offered by the customer as a security for the credit line,
• Copies of the passports of the guarantors and pledgers.^**

*Is not necessary if the credit line funds are less than 500,000 AMD

**to be submitted, if required

• The decision on the credit line application is made and the customer is informed within one banking day after submitting the necessary documents in case of unsecured credit lines and within 10 banking days in case of credit lines, secured with a collateral.
• In case of a positive decision on the provision of a credit line, the availability of a card, and in case of credit lines, secured with a collateral, the credit line is registered within a maximum of 1 banking day.
• In case of a positive decision to provide a credit line of up to 2 million AMD, the loan package is signed. The credit line can be registered without visiting the Bank by signing the loan package electronically.
• NO PENALTIES ARE COLLECTED IN CASE OF EARLY REPAYMENT OF CREDIT LINE.
  
  

Example of calculation of a credit line:

In case of a non-recoverable card credit line for 36 months with the annual interest rate of 19.4% in the amount of 700,000 AMD, which will be provided on the basis of financial flow and two guarantors, with ArCA Credit card, the annual actual interest rate will be 23.9%. The daily interest amount will be Used credit line × Interest rate ÷ 365 = (700,000×19.4%÷365) = 372.05 AMD.

ATTENTION: LOAN INTEREST AMOUNTS ARE CALCULATED BASED ON THE NOMINAL INTEREST RATE, AND THE ANNUAL ACTUAL INTEREST RATE SHOWS HOW MUCH THE LOAN WILL COST FOR YOU, IN CASE OF DUE PAYMENT OF INTEREST AMOUNTS, LOAN PRINCIPAL AMOUNT AND ALL MANDATORY FEES FOR PROVISION AND SERVICE OF LOAN. YOU CAN FIND THE CALCULATION OF ACTUAL INTEREST RATE HERE.

Learn more:

Terms of provision and service of cards by card types: Card Tariffs

Failure by the borrower to fulfill its liabilities on time is subject to a fine of 0.13% (applied fines) for each overdue day.

The credit line repayment is performed in the following sequence (in case of repaying overdue liabilities):

• Fine/penalty
• Interest amount
• Principal amount

Making repayments within the first 10 days after using the non-recoverable credit lines, the credit line usage limit is recovered, and 10 days after the provision of the credit line, the credit line becomes non-recoverable.

• Credit line is provided in a non-cash form;
• Factor for a positive credit line decision is customer credit rating;
• Factors for rejection of the credit line: insufficient financial performance as a result of the analysis, bad credit history of the customer, insufficiency/lack of required collateral, professional opinion of the Business Advisor, professional opinion of the Credit Committee;
• The credit line is registered in the Bank's branches;
• If the credit line is provided on the basis of the pledge of real estate, vehicle, agricultural and other machinery, equipment, and the property is estimated at 30 million AMD or more, it is necessary to evaluate the property by a qualified independent valuator, cooperating with the Bank;
• During the agreement validity, the statements are provided via email every 30 days, if the customer does not select another option;
• Credit account statement subject to mandatory provision under RA legislation and other information is provided free of charge. The statement subject to non-mandatory provision by the RA legislation, the copy of the statement is provided:
• up to 6 months (inclusive) - free of charge,
• for the period of 6 to 12 months (inclusive) - 2,000 AMD (including VAT),
• for the period of more than 1 year - 3,000 AMD (including VAT).

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 credit line, as well as failure to fulfill the obligations set forth in the loan agreement.

ATTENTION: APPLYING FOR A CREDIT LINE, THE BANK WILL PROVIDE YOU, YOUR GUARANTORS (IF AVAILABLE) WITH AN INDIVIDUAL SHEET OF SIGNIFICANT TERMS OF CREDIT LINE, WHERE THE INDIVIDUAL TERMS OF CREDIT LINE, PROVIDED TO YOU, WILL BE PRESENTED.

Confiscation of collateral

THE PLEDGED PROPERTY CAN BE CONFISCATED, IF THE BORROWER DOES NOT DULY REPAY THE INTEREST AMOUNTS AND CREDIT LINE AMOUNT. IF THE COLLATERAL VALUE IS INSUFFICIENT, THE BORROWER’S LIABILITIES WILL BE REPAID AT THE EXPENSE OF OTHER PROPERTY OF THE BORROWER.

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.

FOR GUARANTORS

Please be informed that:

• If the borrower fails to perform their liabilities, you will pay for it instead, your credit history will be impaired, and your property will be confiscated.
• You will be provided with the copies of the loan agreement, guarantee agreement and repayment schedule.
• The communication will be performed in the way, preferred by you.
• You will be notified 7 days in advance of a change in the terms of the contract.
• A reminder of the current liability will be sent to you 1 day in advance.

In case of delay of credit line repayment, you will be notified at the latest one day later.

THE GUARANTOR HAS THE RIGHT TO:

• Request from the creditor the information on the credit line balance at any time.
• Receive the money, paid by you for the credit line, from the borrower, as well as other losses incurred by you instead of the borrower.

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