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

Renovation loans / within the framework of the programs of the National Mortgage Company, Jerm Ojakh (“Warm House”)

Loan purpose

Renovation of residential property with the aim to increase energy efficiency, in the meantime at least 40% of the loan amount should be directed to the measures  targeting to increase energy efficiency of the residential property and  purchase of materials/accessories, including up to 20% of the loan amount can be directed to purchase of energy –efficient household appliances (The list of energy efficient materials/accessories  acceptable within the framework of the project as well as mandatory limits set up are defined within Operational Manual developed for the project). 

Who can apply

Individual resident of RA between the age of 18-63 whose main source of income is within RA and 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.

Location of the property

In the whole territory of RA, except for Kentron community of Yerevan

Loan currency


Loan amount

AMD 275,000- 3,000,000


Loan repayment period

60 - 84 months


Annual nominal interest rate



Penalty for loan principal and/or interest overdue

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

Loan payment schedule

6-month grace period is provided with monthly interest payment only. After the grace period annuity or springy schedules

Loan repayment security measure

Third party (parties) guarantee (if required)

Bank commissions

Loan account service fee – 0.5% of the loan amount, but not less than AMD 5,000

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

Other terms

One unit of the residential property can be renovated several times at the expense of the funds granted within the scope of  the Project. 

Energy efficiency assessment

Can also be arranged by the applicant by visiting website to determine eligibility and the amount of the grant


The borrower receives grant of 5% of the loan amount, but not more than the outstaying loan balance, which is redirected to loan principal amount payment given that more than 40% of the loan amount is utilized for purchasing materials/accessories meant to increase energy efficiency 

- The below listed clauses are also considered as preconditions for grant provision
- At least 90% of all the measures taken must be validated by documents confirming the payment
- In case if in addition to purchase of energy efficient materials/accessories the applicant has also renovated the property,  it is requested to provide photos and/or video of the initial and final stages of the renovation

The grant provision is presented to the borrower by ԳՖՀ. The grant is provided with the consent of the borrower  

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.