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

Payment/Credit Cards Overdraft Online

Card type and service fee

Executives     

Visa Gold / MasterCard Gold

Other employees

ARCA

Visa Classic/ Visa Vision/ MasterCard Standard

Card issuance

Free of charge

Cash withdrawal from Bank ATMs

According to cooperation agreement

Cash withdrawal from ATMs of other banks-members of ArCa

According to Bank fees

Cashless transactions

According to cooperation agreement

Assigning credit limit

Executives

Up to tenfold salary, max AMD 10,000,000

Other employees

Up to eightfold salary, max AMD 5,000,000

Currency

AMD

Grace period

According to cooperation agreement

Repayment period

12-36 months

Minimum amount to be repaid per month

According to cooperation agreement

Nominal interest rate

Nominal interest rate to be accrued on credit limit

Type of credit limit

  • Revolving with minimum amounts payable per month
  • Under a specific repayment schedule

Method of issuing the credit limit

Credit limit will be credited to the Bank payment card.

Account statement date

By 10th day of each month

Due date

16th day each month (if the 16th day of the month is not a business day, the due date will be the next business day).

Penalties

0.015% per day - for failure to timely pay the minimum monthly amount,

0.1% per day - for failure to timely pay the accrued interest

Creditworthiness assessment /terms and conditions for loan approval/

Requirements for granting a loan:

  1. Being employed by the organization for 3 months and having at least one-month salary credited to the Bank card.
  2. During the past 12 months absence of loans classified as watch as well as more adversely classified ones, absence of past due or classified loans (including sureties) at the time of loan origination and the number of days past due equal to or less than 30 for the past 12 months.
  3. Absence of bad loans for the past 24 months (if the customer has a recorded credit history) is a precondition for loan approval.

Timeline for decision-making on approval or rejection of the loan

The decision on approving or declining the loan application will be made within 3 (three) business days.

In case of the Bank's positive opinion, the loan will be made available to the borrower within 5 (five) business days.

Provision of  «EvocaTouch» and «EvocaOnline» remote service systems

Free of charge