Currency

Prepayment

Amount

Period

Interest rate
/flexible/ 

Maximum period:

180 months - for loan with floating interest rate

120 months - for loan with mixed interest rate. 

Loan  interest rate is decided after the risk appraisal of the creditor and the credit under the following schedule:
- With floating interest rate
base interest rate of "Converse Bank" CJSC, plus a 7% margin.
- With fixed interest rate
14% for purchasing dwelling, house
15% for purchasing estate.
During the first five years the loan will be disbursed at the fixed interest rate (specified by the Bank Management Board), after which is calculated by the calculation interest rate of Converse Bank CJSC plus 8% margin.

♦ Loan application
♦ Original and copy of the Passport
♦ Notice form 3 for the dwelling house
♦ Original and copy of the work record card
♦ Reference from place of work in accordance with the relevant appendix
♦ Property Right Certificate of creditor and/or co-creditor
♦ Original of the Ownership Certificate of the property to be acquired (if available) and the basis of purchase - the previous Sale&Purchase Contract or other substantiating document
♦ Marriage certificate, if applicable
♦ Other necessary documents

Pledge                                                                  

♦ Real estate  to be acquired or other real estate
With purchased or other real estate collateral  it is obligatory to provide the  purchase contract of the real estate.

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 in the  by pledge contract the Bank may demand early loan repayment.

♦ Creditor pays penalty to the Bank of:
- 0.1% of outstanding loan daily and
- 0.3% of overdue interest
♦ There are no fines and penalties defined in case of early redemption of the loan.

Monthly loan repayment                                              

♦ Annuity - equal monthly repayment which includes the loan  amount plus the accrued variable   interest,
♦ Spring - variable monthly repayment in which the loan amount is calculated in equal installments  with  variable accrued interest.

Loan account service charge                                    

Service charge  will be debited monthly from the client's account according to the schedule.

Quotation                                                                  

For each client:
♦ Maximum amount of monthly loan and accrued  interest repayment  should not exceed 40% of the net income of the co-creditors
♦ Maximum amount of monthly loan and accrued interest repayment for all loans existing at the time of financing on credit, as well as on credit which is already being financed, should not exceed 50% of the net income of the co-creditors
♦ for the period of the loan the creditor's age  should not exceed 70

Other necessary conditions                                    

♦ Loan is submitted after concluding, notarizing and registering the estate with the legal state body as well as after insuring the collateral to the benefit of the Bank.
♦ Costs related to the  estate's appraisal, pledging and notarizing are the responsibility of the client.
♦ In case of a delay in the repayment of the loan by the creditor the Bank is in powered to lien the pledged property.