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

Evolution

Eligibility	RA residents aged 18 or older, who during the debt service period will not reach the age of 63. Besides, parents may apply for their children (beneficiary).
Loan purpose	Funding training courses
Loan currency	AMD
Loan amount	AMD 100,000.00- AMD 1,000,000.00
Loan repayment period	12-18 months
Loan disbursement method	Non-cash
Annual interest rate	Nominal	18%-19%	Actual	19.60%-20.81%
Collaboration fee from partner	0-1% of the loan amount - one-time, depending on the terms of cooperation
Creditworthiness assessment criteria	Simplified, according to the individual lending procedure for Individuals, maximum OTI - 100%.
Loan security	If appropriate, a surety bond acceptable for the Bank may be required.
Prepayment	If appropriate
Penalty for loan prepayment	Not applied.
Penalty for overdue loan principal and interest	For overdue principal - 0.015% per day, For overdue interest - 0.1% per day.
Timeframe for making decisions on approving or rejecting the loan application	Before the introduction of the new automated credit scoring system, the decision is made by the head of the retail business department within 2 working days.