Individual loans provided to individuals by products / Terms and Tariffs /
- Housing mortgage loans
- Housing mortgages with floating interest rate
- Commercial mortgage loans
- Mortgage loans within the framework of the program on National Mortgage Company
- Mortgage loan (within the framework of the program of National Mortgage Company RCO CJSC Housing Mortgage Financing, 4th Phase)
- Renovation loans / within the framework of the programs of the National Mortgage Company, Jerm Ojakh (“Warm House”)
- Mortgage loans, Affordable Housing for Young Families
- Car purchase loan
- Property secured personal installment loan (with creditworthiness assessment)
- Property secured personal installment loan (without income)
- Personal loan with guarantee
- Student consumer loans (program)
- Loans with gold pledge (Lombard loan)
- Gold mortgage (pawnshop) loans with credit rating
- SingleTOUCH
- Overdrafts with payment cards (credit cards)
- Overdrafts with payment cards (credit cards) for Bank’s customers
- Credit limit provided by Visa Infinite payment cards
- Combined credit line terms in the framework of payroll projects
- Credit limit secured by deposit
- Loans in the framework of Renewable Energy and Energy Saving programs
- Housing mortgages for non-resident individuals
- Credit limit provided by Visa Vision payment cards
Commercial mortgage loans
Loan purpose |
The loan is granted for acquisition, renovation, modernization or construction of commercial property, i.e industrial, public, or other commercial area, building (from the primary and the secondary market). For renovation and construction loan provisions cost estimation of anticipated expenses is taken into consideration. |
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Who can apply |
Individual residents of RA between the age of 18-63, whose age will not exceed 63 years throughout the loan service period or have a co-borrower meeting the above criteria throughout the loan service period. |
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Loan currency |
AMD, USD, EURO |
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Loan amount |
Property purchase, Construction |
From AMD 10,000,000 till AMD 120,000,000 or equivalent in foreign currency
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Renovation |
From AMD 5,000,000 till AMD 30,000,000 or equivalent in foreign currency
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Loan repayment period |
Property purchase, Construction |
AMD |
Constant-Up to 180 months |
Floating-Up to 240 months |
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Foreign currency |
Constant-Up to 180 months |
Floating-Up to 240 months | |||
Renovation |
Up to 84 months |
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Annual nominal interest rate |
Fixed interest rate
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AMD |
13.7%-17% |
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USD |
9.2%-12% | ||||
EUR |
7.2%-10% | ||||
Floating interest rate |
During the first 12 months of the loan | From the 13th month | |||
AMD | Starting from 11.7% Starting point 12.5% |
5.5% + variable component | |||
USD | Starting from 8.7% | 8% + variable component | |||
EUR | Starting from 7.7% | 7.5% + variable component | |||
In case of property insurance by the bank instead of the customer (implemented from the second year of the loan) |
Mentioned interest rate + 0.2% |
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Calculation method of floating interest rate |
The floating interest rate becomes effective upon the expiration of the 36th month of the loan agreement as a loan interest rate specified in the agreement. The variable component of the floating interest rate is revised regularly - twice a year – on February 1 and August 1. As a variable component the interest rate applicable (actually published on the website) in the Bank is applied since the forthcoming revision date following the expiration of the 36th month.
In case of moving from the primary to the secondary variable component an adjustment factor can be applied. |
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Maximum and minimum fluctuations of the floating interest rate |
+4% |
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Early loan repayment penalty |
No early loan repayment fee is applicable |
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Penalty for loan principal and/or interest overdue |
For overdue principal - 0,015 % daily, |
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Loan repayment security measure |
The property that is being purchased, renovated, other property. In case of construction, the land plot where the property should be constructed/the property under construction. |
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Loan to value ratio[1] |
Purchase from primary market (constructor)[2] |
AMD-Up to 90% of the property value |
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Purchase from secondary market |
AMD-Up to 85% of the property value |
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Construction and renovation |
Up to 70% of the property value |
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Insurance |
Property insurance – mandatory to do each year on loan’s outstanding amount |
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Loan provision methods |
· Non-cash – the amount is transferred to the seller’s account |
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Other terms |
· In case of property purchase the Borrower credits prepayment [3] on the Bank’s account which is being frozen till loan disbursement a) the constructor’s obligation to transfer the property to the buyer upon completion of the construction |
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Deadlines for approving or rejecting loan provision |
· The decision to approve or reject the loan is made within 10 (ten) working days maximum, after fully providing all the initial documents requested by the Bank. |
[1] Loan to value ratio is calculated based on the lower value as per property’s valuation act or purchase price
[2] In case of incomplete construction (when purchasing from constructor) property value is considered to be the sales and purchase price which is stated in the advice provided by the constructor, and later is captured in the Sales and Purchase agreement
[3] By the difference of property purchase price and loan amount