Property Secured Personal Loans (without income statements)
Property secured loans without income statements requirement.

Loan purpose |
The loan is provided for purchase/order of goods (works, services) intended for personal, family, household or other uses, unassociated with entrepreneurial activities |
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Eligibility |
RA residents aged 18-63 who during the debt service period will not reach the age of 63, otherwise the potential borrower needs a co-borrower to qualify for the loan. |
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Loan currency |
AMD, USD, Euro |
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Loan amount |
AMD |
2,000,000 – 50,000,000 |
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USD/Euro |
4,000 – 100,000 |
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Loan repayment period |
Fixed interest rate |
24 - 84 months |
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Floating interest rate |
36 – 120 months |
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Nominal (fixed) interest rates per annum |
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Loan-to-Value ratio: up to 30% |
Actual |
Loan-to-Value ratio: 31%-50% |
Actual |
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AMD |
18% - 19% |
21․13% |
19%-20% |
23․66% |
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USD |
12.5% |
15.18% |
13.5% |
16․16% |
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Euro |
11.5% |
13․81% |
12.5% |
14․87% |
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Nominal (floating) interest rates per annum
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AMD |
Loan-to-Value ratio: up to 30% |
starting 18% (fixed component: starting 9% + variable component) |
21․23% |
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Loan-to-Value ratio: 31%-50% |
starting 19% (fixed component: starting 10% + variable component) |
22․44% |
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USD |
Loan-to-Value ratio: up to 30% |
starting 13% (fixed component: starting 12% + variable component) |
14․48% |
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Loan-to-Value ratio: 31%-50% |
starting 14% (fixed component: starting 13% + variable component) |
15․63% |
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Euro |
Loan-to-Value ratio: up to 30% |
starting 11.5% (fixed component: starting 11.5% + variable component) |
13․25% |
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Loan-to-Value ratio: 31%-50% |
starting 12.5% (fixed component: starting 12.5% + variable component) |
14․38% |
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The maximum and minimum threshold of floating rate fluctuations |
+4%, but not more than 21% |
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The variable component of the floating interest rate will be revised on the forthcoming revision date following the expiration of the 24th month, thereafter, every 6 months with application of the rate (published on the Bank’s website) effective at the moment of revision.
The floating interest rate is the interest rate of the loan after the expiration of the 24th month of the loan.
The secondary variable component is revised on February 1 and August 1 each year. The secondary indicator as of February 1 is calculated as an average of the interest rates published from June through November of the previous year. The secondary indicator as of August 1 is calculated as an average of the interest rates published from December of the previous year through May of that specific year.
In case of moving from the primary to the secondary variable component an adjustment factor can be applied. |
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Loan disbursement method |
AMD |
Non-cash (the loan amount is credited to the seller’s account). |
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USD, Euro |
Non-cash (the loan amount is credited to the card account using a payment card). |
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Penalty charged for loan prepayment |
Loans regulated under the RA law on Consumer Loans |
Not applicable |
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Loans that aren’t regulated by the RA law on Consumer Loans |
If prior to the end of the first half of the loan period the Borrower repays monthly principal exceeding the scheduled amount under the agreement, the Borrower shall pay a penalty at 1% of the amount exceeding the monthly payable principal. |
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No penalty is applied to loans in foreign currency. |
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Penalty for overdue loan principal and interest |
For overdue principal - 0.015% per day, For overdue interest - 0.1% per day. |
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Loan security |
Real property: apartment, single-family home, other premises (except premises intended for manufacturing purposes) in Yerevan, as well as in Lori, Shirak and Kotayk provinces. Apart from pledging real property, the Borrower shall provide a surety bond issued by at least one individual or legal entity. |
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Loan-to-Value ratio |
Up to 50% of the appraised value of the real property. |
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Assessment of creditworthiness |
If the loan amount exceeds 30% of the collateral value, the Borrower’s or surety’s Fico score should be 510 and higher. Besides, the borrower should not have classified loans for the last 1 year, nor should the number of overdue days exceed 30. |
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Fees charged |
· In case of cash withdrawal, a withdrawal fee will be charged by the Bank. |
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Timeframe for making decisions on approving or rejecting the loan application |
· The decision on approval or rejection of the loan application is made within 10 (ten) business days upon submission of the full package of preliminary documents required by the Bank. · The loan is provided to the Borrower in case of the Bank’s positive decision within 2 (two) business days upon completion of the pledging process. |
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Other conditions |
The borrower and the pledger must be the same individual, otherwise they must run a joint household (live together). |


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