Deposit Secured Credit Line

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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.