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Gold-pledge-non-revolving-credit-line

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Loan provision terms

Required documents

Additional information

Non-recoverable gold-pledged credit lines are provided to the RA citizen individuals with ArCa Credit payment card,
Currency – AMD, USD, Euro,
Validity – up to 24 months, but not more than card validity,
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
- 20-24% for AMD,
- 15 % for USD,
-14 % for EUR,
Credit line repayments – monthly equal installments (on annuity) to the card account within 1-20 of each month or repayments of quarterly interest amounts, and at the end of the period full repayment of the credit line,
The credit line interest amount is calculated daily- against the used credit line,
Credit line security – gold,
The loan may be provided maximum in the size of 100% of the assessed value.

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.

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 1 working day 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,
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.

In case of a golde-pledge non-recoverable credit line of 1,500,000 AMD for 24 months with 24% annual interest rate, the daily interest rate will be Used portion of credit line × interest Rate ÷ 365 = (1,500,000×24%÷365) = 986.30 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.

Loan provision terms

Non-recoverable gold-pledged credit lines are provided to the RA citizen individuals with ArCa Credit payment card,
Currency – AMD, USD, Euro,
Validity – up to 24 months, but not more than card validity,
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
- 20-24% for AMD,
- 15 % for USD,
-14 % for EUR,
Credit line repayments – monthly equal installments (on annuity) to the card account within 1-20 of each month or repayments of quarterly interest amounts, and at the end of the period full repayment of the credit line,
The credit line interest amount is calculated daily- against the used credit line,
Credit line security – gold,
The loan may be provided maximum in the size of 100% of the assessed value.

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.

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 1 working day 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,
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.

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: 19.06.2015 10:00

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