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

Overdrafts with payment cards (credit cards) for Bank’s customers

Loan purpose

The loan is granted for the purpose of ordering or purchasing goods (work, services) for personal, family, home or other use not related to business activities.

Who can apply

Individual residents of RA between the age of 21-60 who are Bank’s Pledgor/Borrower (Co-borrower)(Loans with security pledge).

Limit

100,000 - 10,000,000

AMD

200 - 20,000

USD

200 - 18,000

EUR

Limit type

Revolving limit with monthly minimum payment requirement

Limit provision process

The credit limit is granted via Bank’s payment cards

Currency

AMD, USD, EUR

Nominal interest rate

AMD

16 %,

USD

13%

EUR

12%

Repayment period

12-36 month, but no longer than the existing Credit due date

Minimum monthly payment requirement

Till the date specified in the statement, the cardholder is obliged to pay 5% of the limit utilized during the previous month (minimum AMD 5,000) + accrued interest.

A month is defined as the period from 1st day of each month till the 1st of the following month.

Statement day

1st of each month

Payment period starting from the statement date

15 days (16th of each month is considered to be the due date)

Penalty for loan principal and/or interest overdue

Monthly minimal payment overdue penalty - 0,015 % daily,

Accrued interest overdue penalty- 0,1 % daily

Credit limit application review fee

AMD 0

Creditworthiness assessment (credit approval criteria)

If the credit application does not exceed AMD 1,000,000, USD 2,000, EUR 1,500

· Being the customer of the Bank for the previous 6 months is a required condition for credit provision (The loan as well as Security pledge agreements should be active for at least 6 months, in the meantime during the overdraft provision the secured loan’s final payment should not be sooner than in 12 months).
· Absence of loans with substandard or stricter classificaiton for the last 12 months, absence of overdue or classified loans during the application submission (including guarantees) and total number of overdue days should not exceed 30 days for the previous 12 months.
· Online loans that the Customer holds towards the Bank and the expected liabilities should not exceed 85% of the market value of the pledged property

If the credit application exceeds AMD 1,000,000, USD 2,000, EUR 1,500

· An important condition for credit provision is to be Bank’s customer (Pledger, Borrower/Co-borrower) for the previous 6 months
· Absence of classified loans for the last 12 months, absence of overdue or classified loans during the application submission (including guarantees) and total number of overdue days should not exceed 30 days for the previous 12 months.
· Existing and expected liabilities that the Customer holds towards the Bank should not exceed 85% of the market value of the property pledged with the Bank
· Maximum monthly payment of the new credit cannot exceed 45% ratio of (all existing loans (except for mortgage loans)+payments of the new credit line)/(net income-mortgage loan payment) and the minimum of 10 multipliers of the net income
· The maximum hold amount put by Judicial Acts Compulsory Enforcement Service cannot exceed AMD 25,000.

Decision making authorities

Automatically for limits not exceeding AMD 1,000,000, USD 2.000 or EUR 1,500
For overdrafts exceeding the above mentioned limits in accordance with credit provision decision making procedures

Other terms

1. The customer is obliged not to repay the property secured loan until the unsecured loan is fully repaid.
2. Borrower or co-borrower can apply for the subject credit type

Deadlines for approving or rejecting loan provision

The decision to approve or reject the loan is made within 5 (five) working days maximum.
The loan is granted in case of Bank’s positive decision, within 5 (five) working days.