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Card with Credit Line

Cards with non-restorable limit, secured with collateral

Credit cards with non-restorable limit, secured with collateral can be used within the scopes of the credit limit provided by the bank.

Please click here to see the terms and conditions of the credit card with non-restorable limit, for purchase of car from a salon.

Type of services - credit card secured with collateral

Restrictions:

  • Is provided only in case of being secured with collateral,
  • Guarantor can be only a private individual/ private individuals/ who has /have/ steady and substantiated income and/or, at the time of loan disbursement owns /own/ immovable property or movable property subject to state registration. The guarantor:
  • Cannot be a co-borrower at the same time,
  • At the time of loan disbursement can have maximum 3 current guarantees provided to secure the liabilities of other persons, whose liabilities aren’t overdue,
  • Availability of a credit report on the guarantor obtained from ACRA credit bureau is mandatory, and another mandatory condition is absence of liabilities overdue for 30 and more days during the last 12 months and/or classified liabilities at the time of loan disbursement.

Cards with non-restorable limit, not secured with collateral

Attention  
  • Credit cards with non-restorable limit, not secured with collateral can be used within the scopes of the credit limit provided by the bank.
Type of service Credit card not secured with collateral
Type of card VISA ELECTRON/ARCA
Restrictions The credit limit of the card can be used within a month
Currency of the card AMD*, USD, Euro
Amount of the credit limit AMD 100 000 - 1 000 000 or its equivalent in foreign currency
Repayment period of the credit limit 18 months
Provision of the card 0
Provision of cash in the Bank’s encashment points and AMTs 3%
Provision of cash in encashment points and AMTs of other banks 4%
Card to card transfer 3%
Transactions at points of sale 0
Card account service fee 3 000 AMD
Term of preparation and provision Maximum 5 working days
Interest rate according to the agreement AMD
20% USD
14% Euro
Setting limit Maximum up to three-fold of the net salary of average monthly income /from entrepreneurial activity, pension, rent, and other documented income/ of account holder and non-account holder of " Converse bank" CJSC, depending on the client's creditworthiness
Procedure of repayment and calculation of interest Repayment begins one month after the term of usage, with annuity method /equal instalments/
Penalties

In case of violation of the repayment terms envisaged by the agreement, the Borrower shall pay penalty to the Bank, for each day of delay:

  • 0.15% of the overdue loan amount,
  • 0.4% of the overdue interest amount,
  • On the 5th working day of delay in repayment of the loan and/or interest amount a one-off penalty is charged in the amount of AMD 1 000
List of required documents
  • Application,
  • Passport,
  • Social card/ or public services number (if available)
  • Reference from the place of employment printed on the employer’s letterhead, specifying the position held, length of service, and size of the net salary. The client can be also required to present a copy of his/her available annual individual statement submitted for the client by the employer to the RA Social Insurance Fund. (this list of documents doesn’t apply to cards secured with pledge of funds or to corporate credit cards).
Other documents, if required.
  • If cards are provided to private entrepreneurs:
*PE’s certificate,
*TIN,
*Results of business analysis approved by the CFD, according to "Converse bank" CJSC's Regulation on Provision of Individual Loans,
  • Other documents evidencing income.
* The salary reference shall be dated not more than 15 calendar days before the date of submission.
 

* The credit limit in AMD is provided only within the scopes of salary projects that act at Converse Bank.

Cards with restorable limit, secured with pledge of gold items

Terms and conditions of provision

Type of service Credit card secured with pledge of gold
Type of card ARCA, VISA Classic, MasterCard standard
Restrictions Is provided only if secured with pledge of gold items
Currency of the card AMD, USD
Amount of the credit limit Starting from AMD 30 000 or its equivalent in foreign currency
Term of the card and credit limit Up to 24 months
Term of preparation and provision of the card 2-4 working days
Interest rate Double fold of the CBA’s banking interest
flexible rate
AMD/fixed
16% USD/fixed
Setting limit The loan amount is provided for 85% percent of the appraised collateral value
Repayment procedure - Interest – monthly
- Principal amount – at the end of the maturity term
Penalties

Violation of the loan amount repayment terms:

  • penalty is charged for each day of delay, equal to 0.15% of the overdue amount;

Violation of the interest amount repayment terms:

  • penalty is charged for each day of delay, equal to 0.4% of the overdue

interest amount,

  • On the 5th working day of delay in repayment of the loan and/or interest amount a one-off penalty is charge in the amount of AMD 1 000.
List of required documents
  • Application,
  • Original and copy of the passport,
  • Social card/ or public services number (if available)
Service of the card account
  • One-off AMD 3000 at the time of disbursement of the loan
Other conditions

Encashment:

  • In case of AMD: 0.5%
  • In case of USD: 0.3%

Current prices of appraisal of one gram of pledged gold items according to carats (as scrap) in case of AMD and foreign currency credit cards secured with pledge of gold and loans secured with pledge of gold

Credit cards with non-restorable limit for clients involved in salary projects

Terms and conditions of provision

Client Clients involved in salary projects at "CONVERSE BANK" CJSC
Type of loan Credit cards with non-restorable limit
Loan limit

Up to three-fold of the salary /net/, but not more than AMD 3 mln.

  • A client can have salary overdraft simultaneously not more than for the amount of one salary,
  • In case of having the two above-mentioned cards simultaneously, the client can have overdraft for the total amount up to four-fold of the salary /net/, but not more than AMD 4 mln.
     
Loan maturity Maximum 48 months
Annual interest rate of the loan 22%
Manner of loan repayment With equal instalments
Type of loan security Received salary
Payment for examination of the application 1000 AMD
Restrictions
  • In order to make use of this loan, the Client can have overdraft on the salary credit card for an amount not more than the size of one salary /net/,
  • The Client shall have been employed with the current employee for minimum 6 /six/ months,
  • At the time of provision of the limit, the Client shall not have overdue liabilities.

Other conditions apply according to the current conditions of Converse Bank CLSC’s regulations on Provision of Individual Loans, Issuance, Provision, Reissuance and Control over Payment Cards.

The loan is disbursed at the head office and the branches.

Attention:

For all those loans, which comply with the requirements of the RA Law “On Consumer Lending”, after making a positive decision on the loan application and before signing the loan agreement, the Bank shall provide you with an Individual sheet, based on the loan conditions and the documents submitted by you.