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

Property secured personal installment loan (with creditworthiness assessment)

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 18-63, whose age will not exceed 63 years throughout the loan service period or have a co-borrower meeting the above criteria throughout the loan service period.

Loan currency

AMD, USD, EUR

Loan amount

AMD

1.500.000 - 50.000.000

USD

3,000-100,000

EUR

3,000-80,000

Loan repayment period

In case of property pledge

24- 84 months

In case of movable property pledge

24-60 months

Annual nominal interest rate

AMD

In case of property

Loan to value 50%

Loan to value

51%-70%

 

 

15%

16%

In case of car

17%

USD

In case of property

Loan to value 50%

Loan to value

51%-70%

10%

11%

In case of car

14%-16%

EUR

In case of property

Loan to value 50%

Loan to value

51%-70%

9%

10%

In case of car

13%

Early loan repayment penalty

In case of loans regulated by RA law “On consumer lending”  

No early payment fee is applicable

In case of loans not regulated by RA law “On consumer lending”

For the first half of the loan term, penalty is applied in case of early principal payment: 1% of the amount exceeding the monthly loan amount as specified in the schedule

For foreign currency loans not penalty is applied.

Penalty for loan principal and/or interest overdue

For overdue principal - 0,015 % daily,
For overdue interest - 0,1 % daily

Loan provision methods

AMD

Cash or non-cash

USD, EUR

Non-cash: transferring to card account

Loan repayment security measure

Movable or immovable property

 In case if movable property is pledged,  the following can be accepted:

· up to 3 old Russian made cars
· up to 7 old non-Russian made cars
· In case if loan to value ratio exceeds 40% for immovable  property pledge, and 30% for movable property pledge, then in addition to pledging movable or immovable property, the borrower is requested to have at least one individual or legal entity guarantee

Loan to value ratio

In case if immovable property is pledged

AMD

Up to 70% of the property value

USD, EUR

Up to 70% of the property value

 

In case if movable property is pledged

Up to 50% of the property value

Insuance

Car insurance – mandatory to do each year on loan’s outstanding amount

Fees

Loan account one off service fee – 1% of the loan’s amount but not more than AMD 30,000

In case if the loan amount is received in cash, encashment fee is applied according to tariffs of the Bank

Deadlines for approving or rejecting loan provision

· The decision to approve or reject the loan is made within 10 (ten) working days maximum, after fully providing all the initial documents requested by the Bank.
· The loan is disbursed in case of positive decision made by the Bank and within maximum 2 (two) working days since the property is pledged.

Other terms

Foreign currency loan are provided via payment cards.