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Loans to individuals

Individual loans provided to individuals by products / Terms and Tariffs /

Personal loan backed by monetary funds

1.	Eligibility	Individual bank customers
2.	Method of application	Offline
3.	Loan limit	Bank deposits Up to 95% of a term deposit denominated in Armenian drams, Up to 80% of a term deposit denominated in other currencies, Starting at AMD 50 000.
3.	Loan limit	Bonds issued by the Government or the Bank • Up to 80% of the par value of bonds denominated in Armenian drams, • Up to 70% of the par value of bonds denominated in other currencies, • Starting at AMD 50 000.
4.	Type of credit limit and repayment method	Revolving or decreasing overdraft limit The borrower shall pay the accrued interest by the date specified in the account statement. Loans with a set repayment schedule Annuity Lump-sum payment method
5.	Repayment period	At least 3 days At most, by the maturity date for the term deposit or bonds.
6.	Loan currency	Armenian drams
7.	Annual nominal interest rate	Bank deposits For term deposits denominated in Armenian drams: annual interest rate for the term deposit plus 3.25%. For term deposits denominated in other currencies, maximum annual interest rate set by the Bank for AMD-denominated deposits plus 3.25%.
7.	Annual nominal interest rate	Bonds issued by the Government or the Bank Annual coupon yield set for bonds denominated in Armenian drams plus 2%.
8.	Actual annual interest rate	Deposits 15.2%, at most
8.	Actual annual interest rate	Bonds issued by the Government or the Bank 13.2%, at most
9.	Method of limit disbursement	Non-cash, for overdrafts – by transferring the funds to the Bank debit card
10.	Overdrafts
	Account statement date	By 10th day of each month
	Payment due date	16th day of each month ( if the 16th day falls on a non-business day, the due date will be automatically extended to the next business day).
	Grace period	N/A
11.	Loan security	Bank deposits Agreement on term deposit placed with the Bank. Whenever the term deposit agreement and expected loan amount are denominated in different currencies, the calculations will be based on the current exchange rate set by the RA Central Bank for the currency of the term deposit.
11.	Loan security	Bonds issued by the Government or the Bank Whenever the pledged bonds and expected loan amount are denominated in different currencies, the calculations will be based on the current exchange rate set by the RA Central Bank for the currency of the bonds.
12.	Fees and charges	If the loan amount is withdrawn from the loan account, the Bank will charge a cash withdrawal fee according to the Bank fees.
13.	Penalties	Penalty for failure to duly make the minimum monthly payment - 0.015% per day Penalty for failure to duly pay the accrued interest - 0.1% per day
14.	Creditworthiness assessment (terms for loan approval)	A necessary precondition for the loan approval is the absence of classified loans and past due dates as of the date of submission of loan application.
15.	Timeline for making decision on loan application	· The decision on approving or declining the loan application will be made within 1 (One) business day, in individual cases, depending on the loan amount, the decision may be made within 5 (Five) business days. · The loan will be provided within 2 (two) business days after the approval of the loan application.