Non-recoverable Card Credit line, secured with a deposit is provided:

• for any purpose,
• also to non-resident individuals,
• without the approval of the credit committee, if the pledger and the borrower are the same person.

• Annual nominal interest rate – AMD - 14%
• Annual actual interest rate – AMD -14.93%
• Repayment frequency - in the period from 1 to 20 of each month, equal monthly deposits (on annuity) to the card account. The credit line is not recovered in the amount, exceeding the monthly repayments
• Calculation of interest amount – daily against used credit line
• Security - funds
• Minimum amount – not specified,
• Maximum credit line amount:
• 95% of the pledged amount, if the currencies of the pledged cash and credit line are the same;
• 90% of the pledged amount if the currencies of the pledged cash and credit line are different;

To receive a credit line, you need to visit your nearest branch of the Bank and present:

• Identification document
• Public service number or a reference on not receiving a public service number.

Register a credit line via ACBA On-Line mobile application.

• The decision on provision of a credit line is made and the credit line is registered within the same banking day;
• No penalties will be charged for early repayment of the credit line.
• Loan account statement (including copy) and other information during the agreement validity is provided free of charge.

Example of calculation of a credit line:

• Credit line amount - 700,000 AMD,
• Credit line annual interest rate - 14%,
• Card annual service fee – 3,600 AMD,
• In this example, the monthly loan repayment will be 23,924 AMD,
• Annual actual interest rate – 14.93 %
• Daily interest amount will be Loan Amount (Balance) x Loan Rate ÷ 365 = (700,000×14%÷365) = 268.49 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.

The non-recoverable card credit line is provided with an ArCa Credit payment card with the pledge of funds of the customers of the Bank, as individuals, available on their accounts. Non-recoverable credit lines may be used during the first 10 calendar days after loan activation, during which they are recoverable, and from the following first business day the credit line can no longer be used and becomes non-recoverable.

• Credit line is provided in a non-cash form;
• Factors for a positive credit line decision are 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;
• During the agreement validity, the statements are provided via email every 30 days, if the customer does not select another option.

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 advance, in case of non-purposeful use of the loan, as well as failure to fulfill the obligations stipulated by 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 CREDIT LINE, WHERE THE INDIVIDUAL TERMS OF LOAN, 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 LOAN 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 FAILURE TO FULFIL THE LIABILITIES OR IMPROPER PERFORMANCE OF LIABILITIES, THE CREDITOR SHALL SEND THESE DATA TO THE CREDIT BUREAU UPON 3 WORKING DAYS, WHERE YOUR CREDIT HISTORY IS REGISTERED. YOU HAVE THE RIGHT TO RECEIVE YOUR CREDIT HISTORY FROM THE CREDIT BUREAU FREE OF CHARGE ONCE IN A YEAR.

ATTENTION: BAD CREDIT HISTORY CAN BE AN OBSTACLE FOR YOU TO RECEIVE 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 loan 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 loan balance at any time.
• Receive the money, paid by you for the loan, from the borrower, as well as other losses incurred by you instead of the borrower.

Financial assistant

www.fininfo.am

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