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

Property secured personal installment loan (without income)

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

Individuals resident in the Republic of Armenia aged 18-63.

The sum of borrower's age and the loan repayment period may not exceed 63 years, or there is a co-borrower who meets this condition.

Loan currency

USD, EUR, AMD

Loan amount

USD and EUR

3,000 – 20,000

AMD

1,500,000 – 10,000,000

Loan repayment period

24- 84 months

Annual nominal interest rate

USD

Loan to value ratio up to  30%

Loan to value ratio

31%-50%

12.5%

13.5%

EUR

Loan to value ratio up to 30%

Loan to value ratio

31%-50%

11.5%

12.5%

AMD

Loan to value ratio up to 30%

Loan to value ratio

31%-50%

17.5%

18.5%

Loan provision methods

AMD

Non-cash

USD, EUR

Non-cash: transferring to card account

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 repayment security measure

Immovable property, apartment, area (except for production areas) located in Yerevan, Lori, Shirak and Kotayk regions.

In addition to property pledge, the borrower is also required to have at least one guarantee of an individual or legal entity

Loan to value ratio

up to 50% of the property value

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

The borrower and the pledger should be the same person, in case of different persons they should run joint household (persons living under the same roof).
Foreign currency loan are provided via payment cards.
Loans provided in AMD are credited to the Bank account