Fund Secured Credit Line

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Fund Secured Credit Line
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Deposit secured credit limit

Who can apply

The customers who have deposit with the Bank

Limit

Up to 90% of the invested deposit

Limit type

Revolving with mandatory minimum monthly payment requirement (Overdraft)

Loan with payment schedule

Credit repayment method

Till the due date mentioned in the statement, the customer is obliged to pay 5% of the credit limit utilized during the previous month (minimum AMD 5,000) + accrued interest

Annuity

Springy

One-off

Limit provision method

Non-cash

Currency

AMD, USD, EUR, RUB

Nominal interest rate

Deposit interest rate + 2%

Repayment period

Till the end of the term deposit agreement

Loan repayment security measure

The deposit

Bank commissions

In case of encashment of the credit amount, encashment fee is applied according to tariffs of the Bank

Fees

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

Accrued interest overdue penalty- 0,1 % daily

Creditworthiness assessment (credit approval criteria)

Absence of classified credit facilities during the application submission is considered an important criteria for credit provision.

Other terms

The credit is provided in the currency of the pledged monetary funds.

Deadlines for approving or rejecting loan provision

The decision to approve or reject the loan is made within 1 (one) working day.
The loan is granted in case of Bank’s positive decision, within 2 (two) working days maximum.  

 

Loan secured by bonds issued by the bank

Who can apply

The customers who have deposit with the Bank

Limit

Up to 70% of the invested bonds

Limit type

Overdraft with renewable or decreasing limit

Loan with payment schedule

Credit repayment method

The customer is obliged to pay accrued interest till the due date mentioned in the statement

Annuity

Springy

One-off

Limit provision method

AMD

Non cash, in case of overdraft, through the Bank's payment cards

USD

Through the Bank's payment cards

Currency

AMD, USD

Nominal interest rate

Bond interest rate + 2%

Repayment period

Till the end of the term deposit agreement

Loan repayment security measure

The Bonds

Grace period

NA

For overdrafts

Extract day By the 10th of each month
Payment deadline The 16th of each month (if the 16th of the given month is a non-working day, the deadline is the next working day).

Bank commissions

In case of encashment of the credit amount, encashment fee is applied according to tariffs of the Bank

Penalties

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

Accrued interest overdue penalty- 0,1 % daily

Application review fee

AMD 0

Creditworthiness assessment (credit approval criteria)

Absence of classified credit facilities during the application submission is considered an important criteria for credit provision.

Other terms

The credit is provided in the currency of the pledged monetary funds.

Deadlines for approving or rejecting loan provision

The decision to approve or reject the loan is made within 1 (one) working day. Depending on the loan amount, the decision can be made within 5 (five) working days
The loan is granted in case of Bank’s positive decision, within 2 (two) working days maximum.  

  

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