Card credit lines are provided to citizens, who have documented fixed income.

• Currency: AMD, USD, EUR,
• Maturity: same as card validity period,
• Minimum amount: – not specified, with the exception of credit lines with
  American Express Blue cards -180,000 AMD or equal amount in foreign currency
  Visa Signature - 500,000 AMD or equal amount in foreign currency
  American Express Gold cards- 1,000,000 AMD or equal amount in foreign currency
• Annual interest rate:
• Not secured with pledge - based on financial flaw and guarantee 18% in case of American Express Gold, American Express Blue cards, 20% in case of American Express Cashback cards, 19.5-21% in case of other AMD cards, 17-20% in case of USD cards, 16-19% in case of EUR cards
• Secured with pledge - 18-21% in case of all the AMD cards, 16% in case of American Express Gold, American Express Blue and American Express Cashback cards, 15-18% in case of USD cards, 14-17% in case of EUR cards
• Repayment frequency: – within 50 calendar days upon the end of each month in the size of 10% of the credit line, used as of the end of the previous month, with the exception of the credit lines with American Express Gold cards, in which case the repayment frequency is specified to be within 50 calendar days upon the end of each month in the size of 5% of the used credit line as of the end of the previous month. The repayment of the principal of the credit line is performed at the end of the card validity,
• In case of repayment of the used amount of the credit line, the credit line is recovered in the size of the repayment,
• Interest amount calculation – daily towards the used credit line
• Collateral (in case of credit loans secured with a collateral): – real estate, vehicle, equipment, funds, other collaterals, if required also guarantees,
• Sum of the credit line main amount and interest of 12 months shouldn’t exceed 83.33% of the estimated pledge value, if applicable.
• Maximum amount by card type:

Receive a loan without visiting the Bank by signing the loan package electronically

To sign contracts electronically

Important:

• The customer must be properly identified by the Bank
• Have a registered mobile number and an email, verified by the Bank

• 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 completed within a maximum of 1 banking day.
• In case of a positive decision to provide a credit line up to 5 million AMD (equivalent foreign currency), the signing of the loan package and the registration of the credit line can be completed without visiting the Bank by signing the loan package electronically.
• NO FINES ARE COLLECTED IN CASE OF EARLY REPAYMENT OF THE CREDIT LINE.
  
  Example of calculation of a credit line:
  
  In case of a credit line with VISA Classic card for 36 months with the annual interest rate of 19.5% in the amount of 700,000 AMD, the annual actual interest rate will be 16.59%. The daily interest amount will be Used credit line × Interest rate ÷ 365 = (700,000×19.5%÷365) = 373.97 AMD.

• 
  In case of credit lines in foreign currency, the basis for the calculation of the annual actual interest rate is the exchange rate published on the official website of the CBA on the day of provision of the loan; the actual annual interest rate may change depending on the change in the official exchange rate of the Central Bank of Armenia.

  
  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
  Qualified independent appraisal companies cooperating with the bank