Individual loans provided to individuals by products / Terms and Tariffs /
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- Personal loans secured by property (with creditworthiness assessment)
- Personal loans secured by property (without income source verification)
- Personal loan with guarantee
- Student consumer loans (program)
- Gold mortgage (pawnshop) loans with credit rating
- Overdrafts with payment cards (credit cards)
- Credit limit provided by Visa Infinite payment cards
- Evolution
- Credit limit secured by funds
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- Housing mortgage loans
- Mortgage loans, Affordable Housing for Young Families
- Mortgage loans within the framework of the program on National Mortgage Company
- Commercial mortgage loans
- Renovation loans / within the framework of the programs of the National Mortgage Company, Jerm Ojakh (“Warm House”)
- National Mortgage Company Energy Efficiency Improvement Repair Loans "My Roof"
- National Mortgage Company Energy Efficiency Building Loans
- Mortgage loans (under the State support program for providing access to affordable housing to families displaced from certain regions of the Republic of Artsakh)
- Mortgage loans under the State Support Program for housing affordability for families in border settlements of the Republic of Armenia
- Residential Energy Efficient Loans under National Mortgage Company Program
- Housing mortgages with floating interest rate
- Housing mortgages for non-resident individuals
- Affordable housing for servicemen
Personal loans secured by property (with creditworthiness assessment)
1. |
Loan purpose |
Loans are designed for purchasing, ordering of goods (services) for non-commercial personal, family, household use, or for refinancing the old loans advanced by other financial institutions. |
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2. |
Eligibility |
RA 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. |
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3. |
Loan currency |
AMD, USD, Euro |
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4. |
Loan amount |
AMD (for real estate collateral) |
2,000,000 –- 100,000,000 |
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AMD (for vehicle collateral) |
5,000,000 –- 50,000,000 |
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USD |
5,000 – 200,000 |
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Euro |
5,000 – 200,000 |
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5. |
Loan repayment period |
For fixed interest rate |
Real estate collateral |
24 - 84 months |
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Vehicle collateral |
60 months |
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For floating interest rate |
36 - 120 months |
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6. |
Nominal (fixed) interest rate per annum |
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Up to 60 months |
61- 84 months |
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AMD |
Real estate collateral |
16% |
17% |
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Vehicle collateral |
18%[1] |
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USD |
Real estate collateral |
10% |
11% |
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Vehicle collateral |
14% |
- |
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Euro |
Real estate collateral |
9% |
10% |
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Vehicle collateral |
13% |
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7. |
Nominal (floating) interest rate per annum |
AMD |
Started at 15% (fixed component: started at 6% + variable component) |
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USD |
Started at 9% (fixed component: started at 8% + variable component) |
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Euro |
Started at 8% (fixed component: started at 8% + variable component) |
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Maximum and minimum range of fluctuation of floating interest rate |
+4%, but not more than 21% |
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Loan repayment method |
Annuity scheme or equal principal repayments |
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Refinancing the old loan issued by other banks and credit organizations (special condition) |
In case of refinancing the loans issued by other banks and credit organizations, the customer may be granted a grace period of up to 6 months for principal repayments. |
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8. |
Penalty for repayment of the loan amount earlier than scheduled under the loan agreement |
For loans not subject to regulation of the RA law on Consumer Lending |
No penalty is applied |
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For loans not subject to regulation of the RA law on Consumer Lending |
If prior to the end of the first half of the contract period, the principal repayments exceed monthly principal amounts scheduled under the loan agreement, the borrower must pay a penalty of 1% of the amount exceeding the monthly principal amount. |
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No penalty will be applied to the loans denominated in foreign currency. |
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9. |
Penalty charged for late payment of the principal and interest amounts |
For past due principal amount - 0.015% per day, For past due interest - 0.1% per day. |
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10. |
Loan disbursement method |
AMD |
Non-cash (loan amount will be credited to the customer’s card account) |
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USD, Euro |
Non-cash (loan amount will be issued through a payment card by crediting the loan amount to the card account). |
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11. |
Loan security |
Real estate or moveable property (vehicle) The following vehicles can qualify for loan security:
If the Loan-to-value ratio exceeds 50% for real estate and 40% for moveable property, apart from the real estate or moveable property the Bank may require a surety to be issued by at least an individual or a legal entity. |
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12. |
Loan-to-Value ratio |
For real estate collateral |
Up to 70% of the appraised value |
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For moveable property (vehicle) |
Up to 50% of the appraised value |
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13. |
Insurance |
Insurance of the vehicle securing the loan repayment |
Each year at the amount of loan balance |
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14. |
Fees and charges |
If the loan amount is withdrawn from the loan account, the Bank will charge a cash withdrawal fee according to the Bank rates and fees. |
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15. |
Timeline for making decision on loan application approval or rejection |
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[1] The mentioned interest rates will be applied if the pledged vehicle is insured and paid by the Bank. If the insurance is bought and paid by the borrower, the Main Credit Committee may decide to apply an interest rate which is 2.5% lower than the mentioned rate. The same principle will be also applied to foreign currency loans.