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

1.

Eligibility

RA resident individuals aged 18-65 who receive their salary via the Bank’s debit cards and will not turn 65 during the entire loan service period

2.

Loan product type

• Revolving overdraft with minimum monthly repayment
• Repayment schedule: annuity scheme

3.

Loan amount

AMD 100,000 – AMD 10,000,000 but no more than the fifteen-fold salary transferred to the card

4.

Repayment period

12 - 60 months

5.

Nominal interest rate

16%

6.

Annual Percentage Rate

19.62%

7.

Disbursement method

• Bank debit cards with overdraft limit
• A loan with a specific repayment schedule may be transferred also to a current account

8.

Due date

• For a loan with a specific repayment schedule: to be determined by the customer
• For overdraft – 16^th day of each month (if the 16^th day of a month falls on a non-business day, the due date will be extended to the next succeeding business day)

9.

Account statement date

By 10^th day of each month

10.

Penalties

• For failure to timely repay the minimum monthly amount  - 0.015% per day,
• For failure to timely pay the accrued interest - 0.1% per day.

11.

Other privileges

For real property-backed consumer and car loans, the annual loan interest rate may be reduced by up to 0.5 percentage points.

12.

Other provisions

If the employer fails to transfer to the employee’s debit card the salary and/or equal payments during 60 days, instead of the interest rate indicated in the unsecured loan/overdraft agreement, the Bank will apply the annual nominal interest rate for the unsecured loan as of the date of expiry of the mentioned period plus 1 percentage point.

13.

Timeline for making decision on loan application approval or rejection

• The decision on approving or declining the loan application will be made within 3 (Three) business days.
• Once the loan application is approved by the Bank, it will be  provided to the borrower within 5 (Five) business days.