Evocabank Defers for 6 Months Full Repayment Dates on SingleTOUCH and Point-of-Sale Installment Loans

The Bank has also made a decision NOT to charge any fines and penalties for failure to make by July 16 monthly payments on SingleTOUCH and point-of-sale installment loans; it will not be considered a delayed payment.

This offer is solely tailored for the borrowers who have no overdue liabilities as at March 16, 2020.

 

MORE DETAILS

On Current Loan Repayments

All borrowers on SingleTOUCH and point-of-sale installment loans that were supposed to make their monthly payments during the period of March 16 to July 16, 2020, may miss their payments and it will not be considered a default; no fines and penalties will be charged by the Bank.

Monthly payments become mandatory after July 16, according to the newly prepared schedule.

On Newly Prepared Schedule

By July 16, 2020, the borrowers on SingleTOUCH and point-of-sale installment loans will get a new schedule of payments on their loans.

In the new schedule, the loan full repayment date will be deferred for six months.

The new schedule will become effective on July 16, 2020.

In the new schedule, the next monthly payment date will be deemed the date in July which was set in the currently effective loan repayment schedule. For example, if the borrower’s payment date was on March 20th, the new payment date will become July 20th .

The new schedule will include all the missed payments as of July 16, 2020.

Under the new schedule, the amount of monthly payments on the loan will not exceed those of the old schedule.

On Repaid Loans

In cases when the loan total repayment date falls within the period of March 16 to July 16, 2020, the deadline for the loan full repayment will be deferred for six months. Failure to repay in full the loan by July 16, 2020 will not be considered a late repayment and no fines and penalties will be charged.

Still, the Bank encourages the borrowers to make payments under the current schedule, if they are in a position to do so.

This is considered a public offer. The borrowers on SingleTOUCH and point-of-sale installment loans having missed their monthly payments under their current schedules will be considered as having agreed to the newly proposed terms and conditions. The borrowers not wishing to make use of this opportunity may send a proposal rejection letter to the Bank e-mail [email protected].

Evocabank borrowers on other loan products (surety-backed loans, loans secured by car and real estate, loans granted to sole proprietors and legal entities), who are facing financial hardship, will be treated INDIVIDUALLY and their repayment schedules will be revised based on their current and predicted revenues. These borrowers can turn to the Bank for re-scheduling and submit facts substantiating their reduced revenues.

To file an application, you need to send an electronic letter to: [email protected] attaching your application, passport data and facts substantiating your losses incurred due to the current situation. The revisions may refer both the deferral of loan principal amount and interest payments and the date of the loan full repayment.

In case of any questions, we

• Would be glad to service you at Bank offices,
• Will answer your questions at all Bank platforms:
  • Contact center - 010 60 55 55
  • Viber, WhatsApp, Zangi, Telegram - 099 60 55 55
  • Bank’s Facebook and Instagram pages
  • Evocabank.am online chat

With consideration of the huge number of questions asked and Contact center work overload, we request you to expect a delay in responding to your calls. We do our best to answer your questions as fast as possible.

Wishing you good health.