Hot Line +37410 511 211

Installment Loan

Conditions of lending "BY INSTALMENTS"

"3D Planet" shop

Loan amount AMD 30,000 - 2,000,000 
Annual interest rate 9%
Maximum maturity 36 months
Account service fee 0.9% of the provided loan amount (is paid by the client, at the time of making monthly instalments according to the schedule)  

"Selena" shop

Loan amount AMD 40,000 - 1,500,000
Annual interest rate 18%
Maximum maturity 36 months
Account service fee 0.4% of the provided loan amount (is paid by the client, at the time of making monthly instalments according to the schedule)

"Artclima" shop 

Loan amount AMD 40,000 - 2,000,000
Annual interest rate 18%
Maximum maturity 36 months
Account service fee 0.6% of the provided loan amount (is paid by the client, at the time of making monthly instalments according to the schedule)

"Bianchi" shop

Loan amount AMD 40,000 - 1,500,000
Annual interest rate 9%
Maximum maturity 36 months
Account service fee 0.9% of the provided loan amount (is paid by the client, at the time of making monthly instalments according to the schedule)

"Giant" shop 

Loan amount AMD 40 000 - 1,000,000
Annual interest rate
0%
Maximum maturity
12 months

"Warmer corn" shop

Loan amount  AMD 40,000 - 1,000,000
Annual interest rate 16%
Maximum maturity 36 months
Account service fee 0.4% of the provided loan amount (is paid by the client, at the time of making monthly instalments according to the schedule)

"Vesta" shop ("Pretty Way" LLC)

Loan amount  AMD 30,000 - 2,000,000
Annual interest rate 9%
Maximum maturity 36 months
Account service fee 0.9% of the provided loan amount (is paid by the client, at the time of making monthly instalments according to the schedule)

"Angels Home" shop

Loan amount  AMD 40 000 -1,500,000 
Annual interest rate 18%
Maximum maturity 36 months
Account service fee 0.4% of the provided loan amount (is paid by the client, at the time of making monthly instalments according to the schedule)

"VLV" shop

Loan amount AMD 30 000 - 2,000,000 
Annual interest rate 19%
Maximum maturity 36 months
Account service fee 0.4% of the provided loan amount (is paid by the client, at the time of making monthly instalments according to the schedule)

"ARAY" shop

Loan amount AMD 40 000 - 1,000,000
Annual interest rate
12%
Maximum maturity
24 months
Account service fee
0.4% of the provided loan amount (is paid by the client, at the time of making monthly instalments according to the schedule)

"Vega World" shop

Loan amount AMD 30 000 - 2,000,000
Annual interest rate
9%
Maximum maturity
36 months
Account service fee
0.9% of the provided loan amount (is paid by the client, at the time of making monthly instalments according to the schedule)

"Nor Tun" shop

Loan amount AMD 30 000 - 2,000,000
Annual interest rate
12%
Maximum maturity
36 months
Account service fee
0.9% of the provided loan amount (is paid by the client, at the time of making monthly instalments according to the schedule)

"Mary" shop

Loan amount AMD 30 000 - 2,000,000
Annual interest rate
12%
Maximum maturity
36 months
Account service fee
0.9% of the provided loan amount (is paid by the client, at the time of making monthly instalments according to the schedule)

"Koala" shop

   
Loan amount AMD 40 000 - 1,000,000  from 1,000,001 to 2,000,000 AMD
Advance payment
0% 20%
Annual interest rate 16%
Maximum maturity 36 months

"PC Electronics" shop

Loan amount AMD 30 000 - 2,000,000
Annual interest rate
9%
Maximum maturity
36 months
Account service fee
0.9% of the provided loan amount (is paid by the client, at the time of making monthly instalments according to the schedule)

"Electronics Planet"

Loan amount AMD 40,000 - 1,500,000
Annual interest rate 16%
Maximum maturity 36 months
Account service fee 0.4% of the provided loan amount (is paid by the client, at the time of making monthly instalments according to the schedule)

"Venus" shop

Loan amount AMD 40,000 - 1,000,000
Annual interest rate 16%
Maximum maturity 24 months
Account service fee 0.4% of the provided loan amount (is paid by the client, at the time of making monthly instalments according to the schedule)

"Mega Sport", "Mega Toys" shops

Loan amount AMD 40 000 -1 000 000
Annual interest rate 24%
Maximum maturity 24 months
Account service fee

Instalment loan with 0% interest rate at "MyBike" shop

Loan amount AMD 40 000 - 600,000
Annual interest rate
0%
Maximum maturity
12 months

Other conditions - according to the conditions of lending by instalments adopted at Converse Bank.

"Eiffel" shop

Loan amount AMD 40 000 -1,000,000
Annual interest rate
24%
Maximum maturity
24 months    

"JYSK" shop

Loan amount AMD 30 000 -2,000,000
Annual interest rate
24%
Maximum maturity
36 months  

"1+1" souvenir shop

Loan amount AMD 40 000 - 1,000,000
Annual interest rate
24%
Maximum maturity
24 months
Account service fee
0.3% of the provided loan amount (is paid by the client, at the time of making monthly instalments according to the schedule)

"ES Kahuyq" shop

Loan amount AMD 40 000 - 1,000,000  from 1,000,001 to 2,000,000 AMD
Advance payment 0% 20%
Annual interest rate 16%
Maximum maturity 36 months
Account service fee 0.4% of the provided loan amount (is paid by the client, at the time of making monthly instalments according to the schedule)  

"NAR-MAR", "VANMETAGHAR", "LZONE", "BEKO"(GBU), "VESTA"(Hayr ev Vordi Beknazaryanner LLC) shops

Loan amount AMD 40 000 - 500,000
Annual interest rate
24%
Maximum maturity
24 months
Account service fee
0.1% of the provided loan amount (is paid by the client, at the time of making monthly instalments according to the schedule)

"Beko" ("Ed Spo" LTD)

Loan amount AMD 30 000 - 2,000,000
Annual interest rate 9 %
Maximum maturity 36 months
Account service fee 0.9% of the provided loan amount (is paid by the client, at the time of making monthly instalments according to the schedule)

"Manuk Petrosyan" PE

Loan amount AMD 40 000 - 1,000,000 
Annual interest rate 24 %
Maximum maturity 24 months
Account service fee 0.3%

"SHENGAVIT" medical center

Option 1

Loan amount AMD 40 000 - 1,000,000
Annual interest rate
0%
Maximum maturity
12 months
Account service fee
A borrower should be a person in whose name a reference issued by a medical institution will be submitted, or relatives (wife, husband, brother, sister, mother, father, son, daughter) with the relevant documents evidencing the relation and a reference issued by a medical institution  

Option 2

Loan amount AMD 40 000 - 1,000,000
Annual interest rate
24%
Maximum maturity
12 months
Account service fee
A borrower should be a person in whose name a reference issued by a medical institution will be submitted, or relatives (wife, husband, brother, sister, mother, father, son, daughter) with the relevant documents evidencing the relation and a reference issued by a medical institution

"FERTILITY CENTER"

Loan amount AMD 40 000 - 1,000,000
Annual interest rate
20%
Maximum maturity
12 months
Account service fee
A borrower should be a person in whose name a reference issued by a medical institution will be submitted, or relatives (wife, husband, brother, sister, mother, father, son, daughter) with the relevant documents evidencing the relation and a reference issued by a medical institution

General provisions and conditions

Currency Amount Maturity Interest rate
AMD

Minimum 40 000 AMD

Maximum 2,000,000 AMD

Minimum 3 months

Maximum 36 months

0-24%

Limitations

Loans will be issued only to individuals meeting the requirements set by Converse Bank

Repayment
By equal monthly installments with variable principal and accrued interests

Disbursement
One-time, by entering onto the transit account opened specially for the Point of Sale;
the amount is transferred from the transit account to the account of Point of Sale within three banking days from disclosure to the Bank of the duly verified documents by the Point of Sale

Credit Account Service

One-off payment - AMD 2,000/ Commission fee may not be established or the Bank can specify other commissions or other order of payment based on the General Cooperation Agreement between the Bank and the Merchandiser/.

Points of Sale charges the amount directly at the date of effecting the Agreement and purchase of the Home Appliance, thereafter upon transfer from the transfer account to the Point of Sale account, the loan amount is transferred at a duly reduced rate, and the difference is transferred to the Bank՚s income account in accordance with the Agreement.

Penalty
Upon delay of due dates, Borrower pays penalty to the Bank for each day of delay:

  • at 0.15% of overdue loan,
  • at 0.4% of overdue interest amount
  • a one-time penalty of AMD 1 000 is applied on the 5th business day of overdue loans and/or interests.
  • No fees are charged for early repayment of the loan

Other Terms

  • The documents certifying the income shall reflect the net income.

Loan / collateral ratio - max 100%

List of documents to be disclosed by Customer to Point of Sale

  • Passport
  • Social card
  • Reference from Employer to Borrower՚s work experience with the particular employer and their salary (signed and stamped by Director and Chief Accountant, preferably on the template approved by the Bank - Annexes 2 or 3)
  • Should the reference be issued by Sole Proprietor, the latter shall sign and stamp the reference, together with the following information to be disclosed:
  • Copy of Sole Proprietor՚s registration certificate and TIN,
  • Reference to salary from RA Labor and Social Security Ministry

List of Documents to be disclosed by Point of Sale to the Bank

  • Consumer loan application-questionnaire signed by Borrower
  • Copy of Borrower՚s passport stamped "Authentic" by the Point of Sale and signed by the latter՚s employee
  • Copy of Borrower՚s social card stamped "Authentic" by the Point of Sale and signed by the latter՚s employee
  • Reference from Employer of Borrower on the latter՚s work experience with the particular employer and their salary (signed and stamped by Director and Chief Accountant)
  • Bank՚s copy of duly verified Agreement

Specially designed credit program intended for supporting the personnel of the Ministry of Defence of the RA having a military rank, the personnel of the National Security Service of the RA, and the personnel having a rank in the RA Police adjoined to the Government of the RA with purchase of household appliances.

Borrower
  1. The personnel of the Ministry of Defence of the RA (including all military units), the junior and senior officers of the National Security Service of the RA (in the military rank of lieutenant to colonel, inclusive)
  2. The middle, senior and chief personnel of the RA Police adjoined to the Government of the RA (in the rank of police lieutenant to the rank of police colonel, inclusive)
  3. Rank and file, non-commissioned personnel of the Ministry of Defence of the RA (except for those on mandatory military service), non-commissioned personnel of the National Security Service of the RA adjoined to the Government of the RA, junior ranking officers of the RA Police adjoined to the Government of the RA
Loan currency  AMD
Loan purpose Purchase of household appliances
Loan maturity 7 years (the loan can be disbursed with a shorter maturity only by the customer’s consent)
Loan amount
  1. For the junior and senior officers of the Ministry of Defence of the RA, the National Security Service of the RA and the middle, senior and junior officers of the RA Police adjoined to the Government of the RA – maximum AMD 1.000.000 per borrower
  2. For rank and file, non-commissioned personnel of the Ministry of Defence of the RA (except for those on mandatory military service), non-commissioned personnel of the National Security Service of the RA adjoined to the Government of the RA, and junior ranking officers of the RA Police adjoined to the Government of the RA - AMD 500.000 per borrower1
Loan repayment procedure Monthly annuity instalments
Interest rate

Fixed interest rate, not more than by 4 percentage points higher than the interest rate of the loan disbursed by the Company.

The interest rate can be revised once in every three years. If the new interest rate of the loan is set by the partner financial institution (hereinafter referred to as the PFI) lower than the previous interest rate, than the new interest rate for the consumer loan shall be reduced at least for the difference between the old and new interest rates of the PFI’s loan. If the new interest rate of the PFI’s loan is set higher than the previous interest rate, then the new interest rate for the consumer loan can be increased maximum for the difference between the old and new interest rates of the PFI’s loan.

The interest rate can be revised once in every three years. If the new interest rate of the loan is set by the PFI lower than the previous interest rate, than the new interest rate for the consumer loan shall be reduced at least for the difference between the old and new interest rates of the PFI’s loan. If the new interest rate of the PFI’s loan is set higher than the previous interest rate, then the new interest rate for the consumer loan can be increased maximum for the difference between the old and new interest rates of the PFI’s loan.

 

Loan disbursement/ service fee No fees are charged for disbursement and service of loans.
Procedure of interest calculation The interest is calculated towards decreasing balance of the loan.
Loan security
According to the respective internal regulations of RFIs.
Creditworthiness evaluation
Creditworthiness evaluation is conducted in accordance with the respective internal regulations of RFIs.
Availability of reference on employment A reference from the place of employment, with mandatory mention of the military rank and the size of the salary.
Other requirements
  1. The borrower shall not have non-performing liabilities at the time of disbursement of the loan;
  2. Such persons, who have a loan previously disbursed within the framework of this project, which was assessed by the Company as non-classified, cannot be borrowers;
  3. A loan isn’t considered as qualified consumer loan, if it doesn’t meet the requirements of the legislation on combat against money laundering and financing of terrorism.

1The borrowers can get new loans within the framework of the project after repayment of at least one loan previously obtained within the framework of this project, the contractual amount of which shall be bigger than or equal to the contractual amount of the new loan to be obtained.

The loan is provided in the head office and 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.