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Loans to individuals

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

Mortgage loans (under the State support program for providing access to affordable housing to families displaced from certain regions of the Republic of Artsakh)

1.	Eligibility	RA residents and non-residents aged 18– 63 who during the loan period will not turn 63 or the loan will be shared by a co-borrower who meets these requirements.
2.	Program beneficiaries	Persons defined by Article 4 of Government decision # 169-L dated February 17, 2022
3.	Loan purpose	Renovation of the apartment/single-family home purchased under the Program and pledged to EVOCABANK
4.	Loan currency	AMD
5.	Loan amount	AMD 100,000.00 – AMD 5,000,000.00, but not more than the amount of difference between the certificate amount and contractual mortgage loan amount.
6.	Loan repayment period	60 months
7.	Nominal interest rate per annum	13%
8.	Penalty for early loan repayment	Not applicable
9.	Penalty charged for late payment of loan principal and/or interest	For past due principal - 0,015 % per day, For past due interest - 0,1 % per day.
10.	Loan security	Not required
11.	Insurance	Not required
12.	Loan disbursement method	Non-cash: in a lump-sum or in several tranches, based on the Bank’s decision
13.	Fees and charges	Not applicable
14.	Creditworthiness assessment	As of the date of the loan application, the borrower should not have substandard loans. Creditworthiness assessment is not required.
15.	Timeline for making decision on loan application approval or rejection	The decision on approving or declining the loan application will be made within 10 (Ten) business days upon submission of the entire package of required preliminary documents, If approved by the Bank, the loan will be provided within 2 (two) business days.
16.	Other provisions	The cases falling outside these terms, will be regulated based on the provisions and terms as specified by Government decision 169-L dated February 17, 2022.