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

          1.            

Purpose

For purchasing or ordering goods  (services) for non-commercial, personal, family, household use.

          2.            

Eligibility

RA residents aged 21 - 65

          3.            

Currency

Armenian drams

          4.            

Minimum and maximum limits

100,000 - 10,000,000

          5.            

Method of application

·          Online

·          Offline

          6.            

Type of limit

Revolving, with minimum monthly repayments

          7.            

Limit disbursement method

The credit limit will be linked to the Bank's debit card.

          8.            

Nominal interest rate

16%-21.5%

          9.            

Actual interest rate

17.24 – 23.78%

         10.           

Grace period

N/A

         11.           

Repayment period

36 months

         12.           

Requirement for monthly payment of minimum amount

The cardholder shall pay 5% of the amount used during the previous month (minimum amount: AMD 5,000) + accrued interest prior to the deadline indicated in the account statement. A month is a period that begins on the first day of the month and ends on the first day of the next month.

         13.           

Account statement date

By 10^th day of each month

         14.           

Payment due date

16^th day of each month (if the 16^th day of the month falls on а non-business day, then the due date will be automatically extended to the next business day).

         15.           

Penalty for late payment of principal and interest amounts

For failure to duly pay the minimum monthly amount - 0.015% per day

For failure to duly pay the interest accrued - 0.1% per day.

         16.           

Creditworthiness assessment (overdraft  approval terms)

Based on the credit scoring system for assessment of online loans.

         17.           

Timeline for making decision on approving or declining loan application

·          The overdraft will be disbursed within 1 (One) business day upon its approval by the Bank.

·          In case of deviations of the application and/or its rejection by the automated scoring system, the loan application will be revised and finalized by a bank employee. In this case, the decision will be made within 7 (seven) business days.