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

Who can apply

Individual residents of RA between the age of 21-65 who are  Visa Infinite cardholders of the Bank

Limit

1,000,000 - 10,000,000

AMD

600 - 20,000

USD

500 - 15,000

EUR

Limit type

Credit limit with payment grace period

Limit provision process

The credit limit is granted via Bank’s Visa Infinite payment cards

Currency

AMD, USD, EUR

Nominal interest rate

AMD

16%

USD

14%

EUR

12%

Grace period

45 days

Repayment period

36 months

Statement day

1 of each month

Repayment period

A grace period is defined for the repayment of utilized credit limit: from the 1^st of the current month till 16^th of the following month.

If during the period of 1-16 of each month (if 16^th of the given month is non-working than the due date is considered to be the previous working day) the accrued debt as per the previous month statement is fully repaid, no any interest calculated for the utilized amount.

In case if the debt is not fully repaid during the above-mentioned period, interest is accrued since the date of the use up till full repayment of the debt.

Penalties

Monthly minimal payment overdue penalty - 0,015% daily,

Accrued interest overdue penalty- 0,1% daily

Credit limit application review fee

AMD 0

Creditworthiness assessment (credit approval criteria)

Important criteria for credit provision is considered to be:

1.          Absence of loans with substandard or stricter classification for the last 12 months, absence of overdue or classified loans during the application submission (including guarantees) and total number of overdue days should not exceed 30 days for the previous 12 months.

2.          Valid income

Deadlines for approving or rejecting loan provision

The decision to approve or reject the loan is made within 5 (five) working days maximum.
The loan is granted in case of Bank’s positive decision, within 5 (five) working days maximum.