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

1.

Loan purpose

The loan is granted for the purpose of ordering or purchasing goods (work, services) for personal, family, home or other use not related to business activities.

2.

Who can apply

Individual residents of RA between the age of 18-65, whose age will not exceed 65 years throughout the loan service period or have a co-borrower meeting the above criteria throughout the loan service period.

3.

Loan currency

AMD

4.

Loan amount

Without proof of income

1,000,000 – 3,000,000

Based on income

1,000,000 – 10,000,000

5.

Loan repayment period

36-60 months

6.

Annual nominal interest rate

Nominal

Actual 

Without proof of income

21%

23.17%

Based on income

19%

20.77%

7.

Early loan repayment penalty

No early payment fee is applicable

8.

Loan repayment schedule

Annuity (monthly installments)

9.

Penalty for loan principal and/or interest overdue

For overdue principal - 0,015 % daily,
For overdue interest - 0,1 % daily 

10.

Loan provision methods

Non-cash 

11.

One-time or monthly loan service fees

None 

12.

Loan repayment security measure

Without proof of income: 1,000,000 AMD

A minimum of 1 (one) guarantor

Without proof of income: 1,000,001 - 3,000,000 AMD

A minimum of 2 (two) guarantors

With proof of income: 1,000,000 - 3,000,000 AMD

Without guarantor requirement

With proof of income: 3,000,001 - 5,000,000 AMD

A minimum of 1 (one) guarantor

With proof of income: 5,000,001 - 10,000,000 AMD

13.

Assessment of creditworthiness / loan approval conditions /

• A simplified creditworthiness assessment is performed during the analysis of income-based applications, but the OTI ^[1] ratio should not exceed 70%.
• Regardless of the loan amount and the availability of sufficient substantiated income, according to the information received from "ACRA Credit Reporting" CJSC, the FICO (score) of the Client or any of the guarantors must be 540 or higher.
• In the case of lending without income, the Client should not have classifications of credit obligations during the last 1 year and the sum of days of delay in repayments should not exceed 30 days.

14.

In case of refinancing from other banks and credit organizations /special condition/

In the case of refinancing loans from other banks and credit organizations, if the expected loan amount exceeds AMD 3,000,000, a grace period of up to 6 months may be provided for principal repayment.

15.

Deadlines for approving or rejecting loan provision

• The decision to approve or reject the loan is made within 3 (three) working days maximum, after fully providing all the initial documents requested by the Bank.
• The loan is disbursed in case of positive decision made by the Bank and within maximum 2 (two) working days since signing loan and guarantee agreements/consents.

16.

Other terms

• A person affiliated with the loan applicant (a family member or a person sharing a joint household) must not have an active loan of this type.

• In case of cash withdrawal of the loan amount, a cash-out fee is charged according to the Bank’s current tariffs.