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. 

Final interest rate of the loan is determined due to the following scale:
- With floating interest rate
base interest rate of "Converse Bank" CJSC, plus a 5.5% points 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 6% 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 / 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 Right Certificate of creditor and/or co-creditor
♦ Original of the Ownership Certificate of the property to be acquired and the basis of purchase - the previous Sale&Purchase Contract or other substantiating document
♦ Marriage certificate, if applicable
♦ Other necessary documents

Pledge                                                                  

♦ In case of pledging the acquired or other real estate presentation of the agreement on acquiring the acquired real estate is compulsory. 

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. 

♦ 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 size of principle amount and accumulated interests related to one loan must not exceed 40% of monthly net income of other members conducting common economy.
♦ 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.
♦ for the period of the loan the creditor's age  should not exceed 70

Other necessary conditions                                    

♦ The loan is issued after signing the agreement on pledge of the real estate, notary validation and registration in the authorised state bodies, as well as after insurance of the pledged property in favour of the Bank. 
♦ Costs related to the  estate's appraisal, pledging and notarizing are the responsibility of the client.
♦ In case of delay of the repayment of the loan by the creditor the Bank is empowered to lien the pledged estate.