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Card with Credit Line

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 USD, Euro
Amount of the credit limit AMD 300 000 and more (equivalent in foreign currency)
Validity term 36 months
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 AMD 3 000
Term of preparation and provision Maximum 5 working days
Interest rate 16% ԱUSD
14% Euro

Terms and Conditions

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.