Card credit lines

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Credit lines

Card credit lines

During the credit line validity period while making the used amount repayments the credit line is restored in the repaid amount.

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Provision terms

Required documents

Additional information

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, in which case the minimum amount is 180,000 AMD or equal amount in foreign currency, and credit lines with American Express Gold cards, in which case the minimum amount is 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:

Card type	Without security	With security
ArCa	600,000 AMD	600,000 AMD
ArCa Credit	2,000,0000 AMD or equal amount in foreign currency	10,000,000 AMD or equal amount in foreign currency
ArCA Transfer Maestro Transfer	300,000 AMD or the equivalent in foreign currency	Not provided
Visa Electron Maestro	600,000 AMD or the equivalent in foreign currency	600,000 AMD or the equivalent in foreign currency
Visa Classic, Visa Charity, MasterCard Standard, MasterCard UEFA CHAMPIONS LEAGUE	3,000,000 AMD or the equivalent in foreign currency	6,000,000 AMD or the equivalent in foreign currency
Visa Gold MasterCard Gold	9,000,000 AMD or the equivalent in foreign currency	18,000,000 AMD or the equivalent in foreign currency
Visa Business	9,000,000 AMD or the equivalent in foreign currency	18,000,000 AMD or the equivalent in foreign currency
American Express Blue	2,500,000 AMD or the equivalent in foreign currency	6,000,000 AMD or the equivalent in foreign currency
American Express Gold	18,000,000 AMD or the equivalent in foreign currency	18,000,000 AMD or the equivalent in foreign currency
American Express Cashback	1,000,000 AMD or the equivalent in foreign currency	6,000,000 AMD or the equivalent in foreign currency

Personal identification document,
A copy of the document containing the social services number, or an official statement (in original) from the relevant authorities about the receipt (or non-receipt) of a social services number,

Statement from the applicant’s place of employment or other documents specifying the applicant’s monthly salary (income) and containing at least the name and taxpayer identification number (if available) of the employer*,

Certificates of ownership of property pledged as collateral (security),
Copies of passports of guarantors and providers of collateral^**

* is not required if the credit line does not exceed 1,000,000 AMD

** provided upon request

Credit line amount is provided non-cash on a payment card.
The factor for the positive decision and rejection of the provision of a credit line is the assessment of the solvency of the customer.
The decision on the credit line application is made in the case of non-collateralized loans within maximum 2 working days after placing the application and the package of necessary documents, and in case of collateral loans within maximum 5 working days.
The decision, made by the Bank, as a result of the review of the credit line application of the customer, shall be announced to the customer within 1 working day.
In case of non-collateralized loans the credit line shall be provided no more than 1 working day and in case of collateralized loans no more than 5 working days after the Bank's decision is made and the pledge process is completed.
During the validity of the credit line agreement of up to 10,000,000 AMD or equal amount in foreign currency, no change of the nominal interest rate is envisaged by the Bank.
The credit line is formulated in the Bank’s head office and branches.
In case of the early repayment of the credit line, no fines shall be collected.

Example of calculation of a credit line:

In case of a 36-month, 19.5% annual interest rate, 700,000 AMD credit line, which will provided based on the financial flaw and guarantees via VISA Classic card the actual annual interest rate will comprise 21.36%. The daily interest amount will comprise Credit line used amount × Interest rate ÷ 365 = (700,000×19.5%÷365) = 37,397 AMD.

The credit line interest amount is calculated on the basis of nominal interest rate. The credit line annual actual interest rate shows the cost of the credit line for you in case of repayment of the interest amounts and other fees in due terms and size.
In case of fluctuations of the interest rates of the funds, attracted and placed by the Bank in the financial market, and/or in case of the change of the financing interest rates, and/or in case of the availability of such preconditions, and/or in case of non-target use of the credit line by the Borrower, for the credit line, exceeding 10,000,000 AMD or equal amount in foreign currency, the Bank may unilaterally change the interest rate and commission fees, specified by the agreement, by notifying the Borrower at least 30 calendar days in advance.

Commissions, fees, minimum and maximum amounts of credit lines, interest rates and required periodical repayments (by card type) - Credit Card tariffs
Penalties applicable in case of delinquencies against obligations of borrowers

Appropriation of collateral

PROPERTY PLEDGED AS COLLATERAL MAY BE SEIZED / APPROPRIATED IN CASE OF FAILURE BY THE BORROWER TO MAKE TIMELY REPAYMENTS OF LOAN AND INTEREST. WHERE COLLATERAL IS INSUFFICIENT TO MEET ALL RELEVANT OBLIGATIONS, RECOURSE MAY BE MADE TO OTHER PROPERTY OWNED BY THE BORROWER.

Information to be submitted 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.

Provision terms

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, in which case the minimum amount is 180,000 AMD or equal amount in foreign currency, and credit lines with American Express Gold cards, in which case the minimum amount is 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:

Card type	Without security	With security
ArCa	600,000 AMD	600,000 AMD
ArCa Credit	2,000,0000 AMD or equal amount in foreign currency	10,000,000 AMD or equal amount in foreign currency
ArCA Transfer Maestro Transfer	300,000 AMD or the equivalent in foreign currency	Not provided
Visa Electron Maestro	600,000 AMD or the equivalent in foreign currency	600,000 AMD or the equivalent in foreign currency
Visa Classic, Visa Charity, MasterCard Standard, MasterCard UEFA CHAMPIONS LEAGUE	3,000,000 AMD or the equivalent in foreign currency	6,000,000 AMD or the equivalent in foreign currency
Visa Gold MasterCard Gold	9,000,000 AMD or the equivalent in foreign currency	18,000,000 AMD or the equivalent in foreign currency
Visa Business	9,000,000 AMD or the equivalent in foreign currency	18,000,000 AMD or the equivalent in foreign currency
American Express Blue	2,500,000 AMD or the equivalent in foreign currency	6,000,000 AMD or the equivalent in foreign currency
American Express Gold	18,000,000 AMD or the equivalent in foreign currency	18,000,000 AMD or the equivalent in foreign currency
American Express Cashback	1,000,000 AMD or the equivalent in foreign currency	6,000,000 AMD or the equivalent in foreign currency

Required documents

Personal identification document,
A copy of the document containing the social services number, or an official statement (in original) from the relevant authorities about the receipt (or non-receipt) of a social services number,

Statement from the applicant’s place of employment or other documents specifying the applicant’s monthly salary (income) and containing at least the name and taxpayer identification number (if available) of the employer*,

Certificates of ownership of property pledged as collateral (security),
Copies of passports of guarantors and providers of collateral^**

* is not required if the credit line does not exceed 1,000,000 AMD

** provided upon request

Additional information

Credit line amount is provided non-cash on a payment card.
The factor for the positive decision and rejection of the provision of a credit line is the assessment of the solvency of the customer.
The decision on the credit line application is made in the case of non-collateralized loans within maximum 2 working days after placing the application and the package of necessary documents, and in case of collateral loans within maximum 5 working days.
The decision, made by the Bank, as a result of the review of the credit line application of the customer, shall be announced to the customer within 1 working day.
In case of non-collateralized loans the credit line shall be provided no more than 1 working day and in case of collateralized loans no more than 5 working days after the Bank's decision is made and the pledge process is completed.
During the validity of the credit line agreement of up to 10,000,000 AMD or equal amount in foreign currency, no change of the nominal interest rate is envisaged by the Bank.
The credit line is formulated in the Bank’s head office and branches.
In case of the early repayment of the credit line, no fines shall be collected.

Example of calculation of a credit line:

The credit line interest amount is calculated on the basis of nominal interest rate. The credit line annual actual interest rate shows the cost of the credit line for you in case of repayment of the interest amounts and other fees in due terms and size.
In case of fluctuations of the interest rates of the funds, attracted and placed by the Bank in the financial market, and/or in case of the change of the financing interest rates, and/or in case of the availability of such preconditions, and/or in case of non-target use of the credit line by the Borrower, for the credit line, exceeding 10,000,000 AMD or equal amount in foreign currency, the Bank may unilaterally change the interest rate and commission fees, specified by the agreement, by notifying the Borrower at least 30 calendar days in advance.

Commissions, fees, minimum and maximum amounts of credit lines, interest rates and required periodical repayments (by card type) - Credit Card tariffs
Penalties applicable in case of delinquencies against obligations of borrowers

Appropriation of collateral

Information to be submitted to the Credit Registry

“BAD” CREDIT HISTORY MAY IMPAIR YOUR ABILITY TO OBTAIN LOANS / CREDITS IN THE FUTURE.

In case of any inconsistencies between the published Armenian and English information, the Armenian version prevails.
Updated: 23.06.2017 11:22

82-84 Aram Street, Yerevan, Armenia

Tel: (+374 10) 31 88 88

Fax: (+374 10) 54 34 85

E-mail: acba@acba.am

Financial system mediator