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

Mortgage Loans under the State Support Program for Ensuring Housing Affordability for Families in Border and Selected Settlements of the RA

1.	Eligibility	RA residents and non-residents aged 18– 65 who during the loan period will not turn 65 or the loan will be shared by a co-borrower who meets these requirements.
2.	Border settlement	A rural settlement included in the "List of Settlements of Border Communities Receiving Social Assistance" approved by Annex 1 of decision # 1444-N of the RA Government of December 18, 2014.
3.	Program beneficiaries	RA residents specified in Government decision #842-L of June 9, 2022
4.	Loan purpose	Construction/completion of construction of single-family homes in rural settlements of border regions
5.	Loan currency	AMD
6.	Loan amount	AMD 2,000,000.00 – AMD 16 ,000,000.00 AMD 2,000,000.00 – AMD 21,000,000.00 in the settlements of Baganis, Berkaber, Kirants and Voskepar
7.	Loan repayment period	120 months
8.	Nominal interest rate per annum	13%
9.	Penalty for early loan repayment	Not applicable
10.	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.
11.	Loan security	The land lot under development/the property under construction
12.	Insurance	Not applicable
13.	Loan disbursement method	Non-cash, in several tranches, according to the terms of the state support program
14.	Bank fees and charges	Not applicable
15.	Creditworthiness assessment	As of the date of the loan application, the borrower, co-borrower(s), pledger(s) should not have substandard loans, Creditworthiness assessment is not required if the loan amount does not exceed the maximum amount of state support.
15.	Creditworthiness assessment	If the loan amount exceeds the maximum amount of state support, creditworthiness assessment will be implemented pursuant to the Bank procedure, and the income/cost ratio (OTI) may equal 100% at most.
16.	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, The loan will be provided within 2 (two) business days after the approval of the loan application and completion of property pledging procedure.
17.	Other provisions	The cases falling outside these terms, will be regulated based on the provisions and terms as specified by Government decision #842-L of June 9,2022.