Individual loans provided to individuals by products / Terms and Tariffs /
- Housing mortgage loans
- Housing mortgages with floating interest rate
- Commercial mortgage loans
- Mortgage loans within the framework of the program on National Mortgage Company
- Mortgage loan (within the framework of the program of National Mortgage Company RCO CJSC Housing Mortgage Financing, 4th Phase)
- Renovation loans / within the framework of the programs of the National Mortgage Company, Jerm Ojakh (“Warm House”)
- Mortgage loans, Affordable Housing for Young Families
- Car purchase loan
- Property secured personal installment loan (with creditworthiness assessment)
- Property secured personal installment loan (without income)
- Personal loan with guarantee
- Student consumer loans (program)
- Loans with gold pledge (Lombard loan)
- Gold mortgage (pawnshop) loans with credit rating
- Overdrafts with payment cards (credit cards)
- Overdrafts with payment cards (credit cards) for Bank’s customers
- Credit limit provided by Visa Infinite payment cards
- Combined credit line terms in the framework of payroll projects
- Loans in the framework of Renewable Energy and Energy Saving programs
- Housing mortgages for non-resident individuals
- Credit limit provided by Visa Vision payment cards
- Loans for the purchase of a car within the framework of cooperation agreements
- National Mortgage Company Energy Efficiency Improvement Repair Loans "My Roof"
- Evolution
- Action
- Residential Energy Efficient Loans under National Mortgage Company Program
- Credit limit secured by funds
Housing mortgage loans
Loan purpose |
Loan is provided for the purchase or renovation of residential properties, including apartment, house, private house, residential house (both from primary and secondary market), as well as for construction of a private or residential house. For renovation and construction loan provisions cost estimation of anticipated expenses is taken into consideration. |
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Who can apply? |
Individual residents of RA between the age of 18-63, whose age will not exceed 63 years throughout the loan service period or have a co-borrower meeting the above criteria throughout the loan service period. |
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Loan currency |
AMD |
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Loan amount |
Property purchase, Construction |
AMD 2,000,000 - 80,000,000 |
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Renovation |
AMD 1,000,000 - 10,000,000 |
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Loan repayment period |
Property purchase, Construction |
60 - 180 months |
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Renovation |
60 - 84 months |
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Annual nominal interest rate |
AMD |
13.7%-17% |
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In case of property insurance by the bank instead of the customer (implemented from the second year of the loan) |
Mentioned interest rate + 0.2% |
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Early loan repayment penalty |
Not applicable |
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Penalty for loan principal and/or interest overdue |
For overdue principal - 0,015 % daily, For overdue interest - 0,1 % daily |
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Loan payment schedule |
Annuity or with equal principal installments. Payments must be done on monthly basis. |
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Loan repayment security measure |
1. The property that is being purchased, renovated, other property. In case of construction, the land plot where the property should be constructed/the property under construction.
a) the constructor’s obligation to transfer the property to the buyer upon completion of the construction |
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Loan to value ratio[1] |
Purchase from primary market /from constructor [2] |
Up to 90% of the property value |
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Purchase from secondary market |
Up to 85% of the property value |
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Construction and renovation |
Up to 70% of the property value |
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Insurance |
Property insurance – mandatory to do each year on loan’s outstanding amount |
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Loan provision methods |
· Non-cash – the amount is transferred to the seller’s account |
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Other terms |
· In case of property purchase the Borrower credits prepayment[3], on the Bank’s account, which is being frozen till loan disbursement 3. In case of obtaining the “purchase right” of the property, the “purchase right” can be considered as loan security. In this case the Bank can request to pledge the funds credited on the constructor’s special account in the favor of the Bank in order to secure: a) the constructor’s obligation to transfer the property to the buyer upon completion of the construction |
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Deadlines for approving or rejecting loan provision |
· The decision to approve or reject the loan is made within 10 (ten) working days maximum, after fully providing all the initial documents requested by the Bank. |
[1] Loan to value ratio is calculated based on the lower value as per property’s valuation act or purchase price
[2] In case of incomplete construction (when purchasing from constructor) property value is considered to be the sales and purchase price which is stated in the advice provided by the constructor, and later is captured in the Sales and Purchase agreement
[3] By the difference of property purchase price and loan amount