• Loans are provided without a collateral;
• Only interest amount payments are made during the first 6 months;
• Signing a loan agreement and the provision of loan can be performed without visiting the Bank by signing it electronically;
• The loan agreement can be signed electronically 24/7. In this case, the loan will also be automatically approved 24/7.

Identification document of the applicant

The following documents may also be required:

• Employer reference* and/or other income supporting documents,
• If the guarantors are required, the copies of identification documents,
• Employer reference for other family member(s) of the applicant.
  
  The validity of the documents at the moment of acceptance shall not exceed the period of 15 days.
  
  Based on different circumstances, additional documents and information may be requited.

*The reference shall contain the size of the net monthly salary/income after taxes of the customer, address of the employer, phone numbers, signature of the company head, providing the reference, and the seal, outgoing number, provision date.

Important:

• The customer shall be properly identified by the Bank
• The customer shall have a mobile phone number and email address, registered and approved in the bank

• The borrower receives 5 percent of the loan contractual amount, but no more than the current loan balance to repay the principal amount of the loan.
• Renovation works shall be completed not later than one year after the provision of the loan.
• Loan amount is provided via transfer.
• Factors for a positive decision on loan provision is assessment of solvency of the customer.
• Factors for loan rejection are: unsatisfactory financial indicators as a result of the analysis, bad credit history of the customer, insufficiency/absence of required collateral, professional opinion of the Business Advisor, professional opinion of the Credit Committee.
• The Bank shall provide the agreement proposal to the consumer 7 days in advance and allow the customer to think for 7 days.
• The loan is registered in the Bank's branches.

The loan may be repaid (fully or partially) earlier than the contractual term, in which case the customer shall pay the interest amount, calculated for the actual loan term, as well as a lump sum penalty in the following sizes:

• In case of early repayment during the first year, 0.6% of the loan amount, repaid more than the loan principal amount, subject to repayment for the given contractual year;
• In case of early repayment during the second year, 0.4% of the loan amount, repaid more than the loan principal amount, subject to repayment for the given contractual year;
• In case of early repayment during the third year, 0.2% of the loan amount, repaid more than the loan principal amount, subject to repayment for the given contractual year; and in case of early repayment during the remaining period of the agreement validity – no penalty shall be collected.

The period of every 12 months, following the date of conclusion of the agreement, is considered to be a contractual year.

ATTENTION: APPLYING FOR A LOAN, THE CREDITOR WILL PROVIDE YOU, THE GUARANTOR(S) (if available) WITH THE INDIVIDUAL SHEET OF SIGNIFICANT TERMS OF MORTGAGE LOANS, WHERE THE INIVIDUAL TERMS OF THE LOAN, TO BE PROVIDED TO TOU, WILL BE SPECIFIED.

Information, provided to the Credit Registry

INFORMATION ABOUT THE BORROWER WILL BE REGISTERED IN THE CREDIT REGISTRY, IF THE INTEREST AMOUNTS AND LOAN AMOUNT IS NOT REPAYED DULY.

HAVING A NEGATIVE CREDIT HISTORY MAY BE AN OBSTACLE FOR YOU IN RECEIVING A LOAN IN THE FUTURE.

FOR GUARANTORS

Please be informed that:

• If the borrower fails to perform its liabilities, you will have to make repayment instead, your credit history will be impaired, and your property will be forfeited.
• You will be provided with the copy the loan agreement, guarantee agreement, and repayment schedule.
• The communication will be performed in your preferred method.
• You will be notified 7 days in advance of a change in the terms of the agreement.
• You will receive a notification 1 day in advance about the available liability.
• In case of overdue loan repayment, you will be notified after one day the latest.

GUARANTOR HAS THE RIGHT TO:

• At any time request the information on the size of the loan balance from the creditor.
• Receive the money, spent on loan repayment from the borrower, as well as other losses, incurred instead of the borrower;

Financial Assistant

www.fininfo.am

ATTENTION: "YOUR FINANCIAL DIRECTORY" IS AN ELECTRONIC SYSTEM, SEARCHING FOR SERVICES, PROVIDED TO INDIVIDUALS, COMPARING THEM AND MAKING THE CHOICE OF THE MOST EFFICIENT OPTION EASIER FOR YOU.