Currency

Prepayment

Amount

Period

Interest rate

USD
EUR

Maximum period 180 months

♦ Loan application
♦ Original and copy of the Passport
♦ Notice from residence 3-rd form
♦ Original and copy of work record card
♦ Reference from place of work in accordance with relevant appendix /issue date of the reference on salary must not exceed 15 calendar days/ The customer can also be required to present the copy of his/her available annual individual statement presented by the employer to the RA Social Insurance Fund.
 - In case of conducting other not entrepreneurship activity /for example investments, giving property for rent, investments in deposits and etc./ reference on income received from those activities.
- In case of customers conducting entrepreneurship activity, reference on income received from the activity. /annex 15-1/,
♦ Property Rights Certificate of creditor and/or co-creditor
♦ Property Right Certificate of purchased estate and procurement base - previous contract for purchase and/or other documents
♦ Marriage contract certificate (if relevant)
♦ Other necessary documents

Pledge                                                               

♦ Real estate being acquired

Estate insurance                                               

♦ The pledged property must be insured in one of the insurance companies-partners of the Bank at the market price during the whole period of credit agreement. If the market value of the property doesn't exceed AMD 45 million, then the Bank will make the insurance in the insurance company, which the customer will indicate in the Form of selecting an insurance company. In other cases the borrower must make insurance himself/herself in one of insurance companies, cooperating with the Bank.
♦ In case of not implementing the insurance conditions undertaken in the pledge contract the Bank may demand early loan repayment.

♦ Creditor pays penalty to the Bank
- of 0.1% of the outstanding loan for each lapsed day and
- 0.3% of the outstanding  interest amount  for each lapsed day
♦ There are no fines and penalties defined in case of early redemption of the loan.

Monthly loan repayment                                        

♦ Annuity /equal monthly repayment/, which includes basic amount and accrued interest (variable).
♦ Spring /variable monthly repayment/ in which the basic amount is made equally and the accrued interests. (variable).

Loan account service                                             

Deducted monthly  from the client's account according to the schedule.

Quotation                                                                   

For each client:
♦ The maximum  amount of the loan and monthly interest repayment  should not exceed 40% of the net income of the co-creditors.
♦ At the moment of loan issuance maximum monthly repayment of principle amounts and accumulated interests related to all loans must not exceed 50% of net monthly income of other members conducting common economy,
♦ At the time of the loan submission and loan period term the creditor's age  should not exceed 70.

Other obliged conditions                                        

♦ Loan is granted after concluding the Notarized estate pledging contract. and after legal registration with the  state body, as well as insuring the pledged estate with the  Bank as beneficiary for the term of the loan.
♦ Fees dealing with the estate's appraisal, pledging and notary validation are paid by the client.
♦ In case of delay of the repayment of the loan by the creditor the Bank is empowered to lien the pledged estate.