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

Mortgage loans under the State Support Program for housing affordability for families in border settlements of the Republic of Armenia



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.


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.


Program beneficiaries

RA residents specified in Government decision #842-L of June 9, 2022


Loan purpose

Construction/completion of construction of single-family homes in rural settlements of border regions


Loan currency



Loan amount

AMD 2,000,000.00 – AMD 16 ,000,000.00


Loan repayment period

120 months


Nominal interest rate per annum



Minimum and maximum support amount

The support amount for construction (completion of construction) of single-family homes – for monthly repayment of mortgage loan principal amount – up to AMD 16 million in total, for interest payment – up to 13%.


Penalty for early loan repayment

Not applicable


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.


Loan security

The land lot under development/the property under construction



Not applicable


Loan disbursement method

Non-cash, in several tranches, according to the terms of the state support program


Bank fees and charges

Not applicable


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.

 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.


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.


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.