The minimum down payment may be set at 10% of the residential real estate to be acquired if any of the following requirements are met:
Requirements for the borrower (co-borrower) - the borrower (co-borrower) shall have no current overdue liability, all current loan liabilities shall be classified as standard, and the total number of days overdue for all loans in the last 12 months shall not exceed 30 calendar days.
About the amount of possible additional payments: Loan tariffs.
Required documents are:
If the applicant is engaged in agricultural activities:
The same documents relating to the applicant must also be submitted by the co-borrower (if any).
1Documents are required, if the data or documents in the database of the state register of the RA Ministry of Justice are missing or incorrect.
Example of loan interest calculation
*The amount of repayment may vary depending on the number of days in the given month.
ATTENTION: LOAN INTEREST IS CALCULATED ON THE BASIS OF NOMINAL INTEREST RATE, AND THE ANNUAL INTEREST RATE SHOWS HOW MUCH THE LOAN WILL COST YOU IN CASE OF PAYMENT OF ALL MANDATORY FEES FOR PROVISION AND SERVICE OF LOAN. YOU CAN FIND THE CALCULATION OF THE ACTUAL INTEREST HERE.
In case of non-fulfillment of its obligations by the borrower on time, a penalty of 0.13% is calculated for each overdue day (penalties applied).
Loan repayments are made in the following order (in case of overdue obligations):
Insurance companies cooperating with the bank:
Energy efficient mortgage loans are provided to resident individuals over the age of 18 who are not of retirement age throughout the term of the loan. Energy efficient purchase mortgage loans are provided for the purchase of energy efficient residential real estate located in the territory of the Republic of Armenia.
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 case of non-purposeful use of the loan, as well as failure to fulfill the obligations set forth in 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 MORTGAGE LOAN, WHERE THE INDIVIDUAL TERMS OF LOAN, PROVIDED TO YOU, WILL BE PRESENTED.
For lending, the following payments may be made by the consumer:
All payments are included in the actual interest rate calculation.
The loan can be repaid (fully or partially) earlier than the contract term, in which case the customer pays the interest amount, calculated for the actual loan term, as well as a lump sum penalty in the following size:
Contractual year is considered to be each period of 12 months, following the agreement date.
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
INFORMATION ABOUT THE LOAN WILL BE REGISTERED IN THE CREDIT REGISTRY, IF THE BORROWER FAILS TO DULY REPAY THE INTERST AMOUNT AND LOAN AMOUNT.
HAVING A NEGATIVE CREDIT HISTORY MAY BE AN OBSTACLE FOR YOU TO RECEIVE ANOTHER LOAN IN THE FUTURE.
Please be informed that:
THE GUARANTOR HAS THE RIGHT TO:
ATTENTION: "YOUR FINANCIAL INFORMATION" CHOOSE THE MOST EFFECTIVE CHOICE FOR SEARCHING, COMPARING THE SERVICES OF THE INDIVIDUALS.