Micro-renovation Loan with Bank Resources
Planning to renovate your apartment? Get Evocabank’s micro-renovation loan and take advantage of the state subsidy opportunity!

1. |
Loan purpose |
Renovation of residential property, improvement of living conditions |
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2. |
Eligibility |
RA citizen-individuals aged 18– 65 whose major income source is generated in Armenia and who during the loan service period will not turn 65, otherwise the loan shall be shared by a co-borrower meeting these requirements. |
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3. |
Loan currency |
AMD |
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4. |
Loan amount |
AMD 275,000 – AMD 5,000,000 |
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5. |
Loan period |
60 months |
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6. |
Annual interest rates |
17% |
Actual |
18.62% |
7. |
Penalty for early loan repayment |
Not applicable |
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8. |
Penalty for late payment of loan principal and interest |
For past due principal - 0,015 % per day, For past due interest - 0,1 % per day. |
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9. |
Loan repayment method |
Annuity or equal principal repayments; payments should be made on a monthly basis |
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10. |
Loan security |
Without collateral |
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Surety bond issued by a third party (parties) at AMD 275,000 – AMD 3,000,000 (if necessary) |
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Surety bond issued by a third party (parties) at AMD 3,000,001 – AMD 5,000,000 |
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11. |
Insurance |
In case of purchasing solar panels, they should be included under standard insurance coverage at the acquisition price of solar panel. |
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12. |
Loan disbursement method |
Non-cash |
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13. |
Timeline for making decision on loan application approval or rejection |
The decision on approving or declining the loan application will be made within 10 (Ten) business days upon submission of the entire package of required preliminary documents. The loan will be provided within 2 (two) business days after the approval of the loan application. |

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