If necessity, a different schedule of interest and loan principal repayment can be set.
The borrower (co-borrower) shall not have a current overdue liability, all existing credit liabilities shall be classified as standard, and the total number of overdue days for all loans over the past 12 months shall not exceed 30 calendar days.
Possible additional costs: Loan Tariffs
1․ Documents are required, if the data or documents are missing or incorrect in the State Register database of the RA Ministry of Justice.
If the applicant has no account with the bank, it is required to submit also the documents (originals), required for opening an account with "ACBA-CREDIT AGRICOLE BANK" CJSC.
Example of calculation of loan interest
* The repayment amount may vary depending on the number of days in a 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 DUE REPAYMENT OF LOAN INETERST AMOUNTS AND ALL MANDATORY FEES FOR LOAN PROVISION AND SERVICE. YOU CAN FIND THE ACTUAL INTEREST RATE CALCULATION HERE.
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In case the borrower does not fulfill their obligations on time, a penalty of 0.13% is calculated for each overdue day (applicable fines).
Loan repayments are carried out in the following order (in case of overdue obligations):
Mortgage loans for purchase of real estate are provided to resident individuals over 18 years of age, who will not reach the pension age +4 years during the loan validity. Only the applicant's spouse, the applicant's and her spouse's parents, sisters and brothers can be the co-borrowers. The co-borrower must be a resident of the Republic of Armenia. Co-borrowers bear the same responsibilities as the borrower under the loan liabilities.
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.
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:
The evaluated amount of purchased property is the insurance amount of the real estate, being the collateral.
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 DIRECTORY" IS THE ELECTRONIC SYSTEM FOR SEARCH, COMPARISON OF SERVICES, OFFERED TO INDIVIDUALS, AND MAKING THE SELECTION OF THE MOST EFFICIENT OPTIONS FOR YOU EASIER.