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. |
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 |


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