Credit line with reducible limit

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Credit lines

Credit line with reducible limit

Credit lines with reducible limit are provided to the RA citizen individuals, who have fixed documented income.
Monthly repayments are specified for the use of the credit lines with reducible limits, as a result of which the principal of the credit line is reduced, which reduces your financial liabilities at the end of the validity period of the credit line.

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Loan provision terms

Required documents

Additional information

Starting from may 11 to May 31 (including) obtain the Credit lines with reducible credit line or tranfer yout credit oline to the Bank with the following conditions:

Card credit line disbursed only with a guarantee or without a guarantee based on the creditor’s financial flaws;

AMD card credit line -16-18% annual interest rate*
USD card credit line-17%**
Euro card credit line - 15%**

Card credit line secured with pledge;

- Credit lines for up to 36 months – 15-17% annual interest rate*

- Credit lines for 37 months and more – 18-19%

USD card credit line - 14%
Euro card credit line - 12%

Annual actual interest rate:

Without pledge - starting from 16.08%

With pledge -14.93%

Credit lines with reducible limit are provided to the RA citizen individuals, who have fixed documented income,
Currency – AMD, USD, Euro,
Validity – up to 60 months, but not more than card validity. Credit lines of up to 2,000,000 AMD inclusive or equal amount in foreign currency, secured with cash flow or guarantee, are provided for the period of up to 36 months,
Credit line minimum amount – not specified,
Credit line maximum amount – 10,000,000 AMD or equal amount in foreign currency,
Credit line annual interest rate – without pledge (on the basis of financial flows and/or guarantee) 22-24% in the case of AMD, 18-22%` in the case of foreign currency, and with pledge 20-22% in the case of AMD, 17-18% in the case of foreign currency,
Credit line repayments – in the period from 1-20 of each month, envisaging repayment in the size of the sum of the interest amounts, calculated against the used credit line as of the end of each month and the credit line amount, subject to reduction. The credit line recovers in the amount, exceeding the monthly repayments. If the balance of the unused credit line as of the last day of the previous month is sufficient for making reduction, the customer shall repay only the interests accumulated against the used credit line as of the last day of the previous month,
The interest amount of the credit line is calculated against the used credit line,
Credit line security – real estate, vehicle (car), agricultural equipment, other equipment, funds, other material values, if required also guarantees. Credit lines of up to 500,000 AMD inclusive or equal amount in foreign currency may be provided with the security of cash flow or a guarantee of at least one person, and the credit lines in the amount of 500,001-2,000,000 AMD inclusive or equal amount in foreign currency – with the security of cash flow and guarantees of at least two persons,
The sum of the credit line’s principal and the interests of 18 months shall not exceed 83.33% of the assessed value of the collateral, if such is available.

For more information on card provision and service tariffs, credit line grace period by card types, please visit here - Credit card tariffs

Identification document,
Copy of the document, containing the public service number, established by the legislation, or the original of the reference on receiving or not receiving the public service number, issued by the body, holding the state register;
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

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 performed within maximum 8 working days upon submission of the application and the package of required documents by the customer,
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,
The credit line is provided within maximum 5 working days upon the announcement of the Bank’s decision and end of the pledging process,
Credit line shall be registered in the branches of the Bank,
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 credit line of 700,000 AMD with American Express Cashback card (card annual service fee – 6,000 AMD, encashment – 1.5%) for 12 months with 24% annual interest rate, which will be provided with security of cash flow and guarantees of two persons, the annual actual interest rate will be 25.88%. Daily rates will be loan amount (balance) × loan rate ÷ 365 = (700,000×24%÷365) = 460.27 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.
During the validity of the credit line agreement, no change of the nominal interest rate is envisaged by the Bank.

Penalties applicable in case of delinquencies against obligations of borrowers

Confiscation of collateral

THE PLEDGED PROPERTY MAY BE CONFISCATED, IF THE BORROWER DOES NOT MAKE DUE REPAYMENTS OF THE INTEREST AMOUNTS AND LOAN PRINCIPAL. IF THE COLLATERAL VALUE IS NOT SUFFICIENT, THE BORROWER’S LIABILITIES SHALL BE REPAID AT THE EXPENSE OF OTHER PROPERTY OF 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.

SPECIAL OFFER

Starting from may 11 to May 31 (including) obtain the Credit lines with reducible credit line or tranfer yout credit oline to the Bank with the following conditions:

Card credit line disbursed only with a guarantee or without a guarantee based on the creditor’s financial flaws;

AMD card credit line -16-18% annual interest rate*
USD card credit line-17%**
Euro card credit line - 15%**

Card credit line secured with pledge;

- Credit lines for up to 36 months – 15-17% annual interest rate*

- Credit lines for 37 months and more – 18-19%

USD card credit line - 14%
Euro card credit line - 12%

Annual actual interest rate:

Without pledge - starting from 16.08%

With pledge -14.93%

Loan provision terms

Credit lines with reducible limit are provided to the RA citizen individuals, who have fixed documented income,
Currency – AMD, USD, Euro,
Validity – up to 60 months, but not more than card validity. Credit lines of up to 2,000,000 AMD inclusive or equal amount in foreign currency, secured with cash flow or guarantee, are provided for the period of up to 36 months,
Credit line minimum amount – not specified,
Credit line maximum amount – 10,000,000 AMD or equal amount in foreign currency,
Credit line annual interest rate – without pledge (on the basis of financial flows and/or guarantee) 22-24% in the case of AMD, 18-22%` in the case of foreign currency, and with pledge 20-22% in the case of AMD, 17-18% in the case of foreign currency,
Credit line repayments – in the period from 1-20 of each month, envisaging repayment in the size of the sum of the interest amounts, calculated against the used credit line as of the end of each month and the credit line amount, subject to reduction. The credit line recovers in the amount, exceeding the monthly repayments. If the balance of the unused credit line as of the last day of the previous month is sufficient for making reduction, the customer shall repay only the interests accumulated against the used credit line as of the last day of the previous month,
The interest amount of the credit line is calculated against the used credit line,
Credit line security – real estate, vehicle (car), agricultural equipment, other equipment, funds, other material values, if required also guarantees. Credit lines of up to 500,000 AMD inclusive or equal amount in foreign currency may be provided with the security of cash flow or a guarantee of at least one person, and the credit lines in the amount of 500,001-2,000,000 AMD inclusive or equal amount in foreign currency – with the security of cash flow and guarantees of at least two persons,
The sum of the credit line’s principal and the interests of 18 months shall not exceed 83.33% of the assessed value of the collateral, if such is available.

For more information on card provision and service tariffs, credit line grace period by card types, please visit here - Credit card tariffs

Required documents

Identification document,
Copy of the document, containing the public service number, established by the legislation, or the original of the reference on receiving or not receiving the public service number, issued by the body, holding the state register;
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

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 performed within maximum 8 working days upon submission of the application and the package of required documents by the customer,
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,
The credit line is provided within maximum 5 working days upon the announcement of the Bank’s decision and end of the pledging process,
Credit line shall be registered in the branches of the Bank,
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.
During the validity of the credit line agreement, no change of the nominal interest rate is envisaged by the Bank.

Penalties applicable in case of delinquencies against obligations of borrowers

Confiscation 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: 15.05.2017 16:12

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