Deposit secured loan / credit limit

1.

Eligibility

Bank’s customers

2.

Credit limit

• Up to 95% of the amount placed with Bank under AMD-denominated term deposit agreement.
• Up to 80% of the amount placed with Bank under foreign currency term deposit agreement.

3.

Limit type

Revolving or decreasing overdraft

A loan with a specific repayment schedule

4.

 Repayment method

The borrower shall pay the accrued interest by the due date as specified in the account statement.

Annuity plan

Flexible plan

Bullet payment

5.

Repayment period

The maximum repayment period is timed to coincide with the expiration date of the Bank deposit agreement.

6.

Currency

AMD

7.

Nominal interest rate

For term deposits denominated in AMD

Annual interest rate for term deposit plus 2%  

For deposits denominated in foreign currency

Maximum annual interest rate for AMD-denominated term deposit plus 2%  

8.

Method of assigning the credit limit

Non-cash, for overdraft – the relevant amount will be transferred to the Bank payment card 

9.

For overdraft

Account statement day

By 10th day of each month

Due date

16th day of each month (if the 16th day of the given month is a non-business day, the due date of such payment shall be extended to the next succeeding business day).

Grace period

Not applicable

10.

Loan security

The term deposit agreement. If the pledgeable term deposit agreement and expected loan amount are not in the same currency, the calculation will be based on the exchange rate of the term deposit currency set by the CBA as of the date of pledging.

11.

Bank fees

The Bank will charge cash withdrawal fee for moving funds out of the bank account according to the Bank current fees and rates.

12.

Penalties

For past due minimum monthly amount - 0,015 % per day,

For past due interest amount  - 0,1 % per day.

13.

Creditworthiness assessment /loan approval terms/

A prerequisite for the loan approval is absence of substandard loans as of the date of loan application.

14.

Timeline for making decision on  loan application approval or rejection

• As a rule, the decision on the loan application will be made within 1 (one) business day, while in individual cases, subject to the loan amount,  the decision may be taken within 5 (five) business days.
• The loan will be made available to the borrower within 2 (two) business days upon approval of the loan application by the Bank.

1.

Eligibility

Individual Bank bond investors and Bank customers

2.

Credit Limit

·      Up to 80% of the par value of AMD-denominated bonds,

·      Up to 70% of the par value of foreign currency-denominated bonds

3.

Limit type

Revolving or decreasing overdraft

A loan with a specific repayment schedule

4.

 Repayment method

The borrower shall pay the accrued interest by the due date as specified in the account statement.

Annuity plan

Flexible plan

Bullet payment

5.

 Repayment period

The maximum period is timed to coincide with the the bonds’ maturity date.

6.

Currency

AMD

7.

Nominal interest rate

Annual bond yield set by the Bank plus 2%.

8.

Method of assigning the credit limit

Non-cash, for overdraft – the relevant amount will be transferred to the Bank payment card

9.

For overdraft

Account statement day

By 10th day of each month

Due date

16th day of each month (if the 16th day of the given month is a non-business day, the due date of such payment shall be extended to the next succeeding business day).

Grace period

Not applicable

10.

Loan security

Bonds issued by EVOCABANK CJSC. If the pledgeable bonds and expected loan amount are not in the same currency, the calculation will be based on the exchange rate of the bond currency set by the CBA as of the date of bond pledging.

11.

Bank fees

The Bank will charge cash withdrawal fee for moving funds out of the bank account according to the Bank current fees and rates.

12.

Other charges

Fee for bond pledging as per effective fees and rates.

13.

Penalties

For past due minimum monthly amount - 0,015 % per day,

For past due interest amount  - 0,1 % per day.

14.

Creditworthiness assessment /loan approval terms/

A prerequisite for the loan approval is absence of substandard loans as of the date of loan application.

15.

Timeline for making decision on  loan application approval or rejection

• As a rule, the decision on the loan application will be made within 1 (one) business day, while in individual cases, subject to the loan amount,  the decision may be taken within 5 (five) business days.
• The loan will be made available to the borrower within 2 (two) business days upon approval of the loan application by the Bank.