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

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.

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.

3.

Loan currency

AMD, USD, Euro

4.

Loan amount

AMD (for real estate collateral)

2,000,000 –- 100,000,000

AMD (for vehicle collateral)

5,000,000 –- 50,000,000

USD

5,000 – 200,000     

Euro

5,000 – 200,000

5.

Loan repayment period

For fixed interest rate

Real estate collateral

24 - 84 months

Vehicle collateral

60 months

For floating interest rate

36 - 120 months

6.

Nominal (fixed) interest rate per annum

Up to 60 months

61- 84 months

AMD

Real estate collateral

16%

17%

Vehicle collateral

18%^[1]

-

USD

Real estate collateral

10%

11%

Vehicle collateral

14%

-

Euro

Real estate collateral

  9%

10%

Vehicle collateral

13%

-

7.

Nominal (floating) interest rate per annum

AMD

   Started at 15% (fixed component: started at 6% + variable component)

USD

   Started at 9% (fixed component: started at  8% + variable component)

Euro

  Started at 8% (fixed component: started at  8% + variable component)

Maximum and minimum range of fluctuation of floating interest rate.

+4%, but not more than 21%

Loan repayment method

Annuity scheme or equal principal repayments

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.

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

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.

No penalty will be applied to the loans denominated in foreign currency.

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.

10.

Loan disbursement method

AMD

Non-cash (loan amount will be credited to the customer’s card account)

USD, Euro

Non-cash (loan amount will be issued through a payment card by crediting the loan amount to the card account).

11.

Loan security

Real estate or moveable property (vehicle)

1.   The following vehicles can  qualify for loan security:

• Russian-manufactured vehicles aged up to 3 years,
• Non-Russian vehicles aged up to 7 years.

2.  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.

12.

Loan-to-Value ratio  

For real estate collateral

Up to 70% of the appraised value

For moveable property (vehicle)

Up to 50% of the appraised value

13.

Insurance

Insurance of the vehicle securing the loan repayment

Each year at the amount of loan balance

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.

15.

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.