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Artadratekhnologiakan komplektavorum CJSC

Mortgage loan offered jointly by Converse Bank and Artadratekhnologiakan komplektavorum CJSC

Special preferential terms offered jointly by Converse Bank and Artadratekhnologiakan komplektavorum CJSC for mortgage loans issued for purchasing apartments in the building under construction at 23/6 G. Nzhdeh Str., administrative district Shengavit, Yerevan, and for renovation of the purchased apartments.

Loan currency AMD USD EUR
Max loan amount 60,000,000 AMD No limitation
Max loan maturity 10 years 20 years
Interest rate (CBFR*+6.75)%1 (CBFR* + 8.5)%1 (CBFR* + 9.3)%1
Max Loan-to-Value Ratio 85% against the Fair Value2 of the real estate (purchase right) but no more than 100% of the actual acquisition cost
Upon pledge of additional real estate, 90% of the total sum of the Fair Value of the purchased real estate (purchase right) and the liquid values of the additional property, but no more than 100% of the actual acquisition cost
One-time origination fee 0.5% of loan amount, min AMD 25,000 (upfront charge)
One-time processing fee AMD 5,000 (collected when recording the loan application)
Monthly credit account service fee AMD 2,000


Loan security

  • Pledge of the purchased real estate (if finished), or
  • Pledge of purchase right, in which case if the ownership certificate for the building is available, within max 6 months the real estate will be transferred to the buyer/pledger.
  • Pledge of total or a part of funds entered by the Buyer onto the Builder’s special account, if an agreement has been concluded about pledge on behalf of the Bank.

Converse Bank floating rate is defined on a monthly basis and published on the official website of the Bank.

The maximum threshold of lifts and drops in nominal interest rate for floating rates is determined +/-3 percentage points.

1 In case of 50% and larger prepayment, the interest rate of the loan can be decreased with the approval of the competent authority of the Bank: for AMD loans up to (CBFR + 5.75)%, for USD loans up to (CBFR + 7.5)%, and for EUR loans up to (CBFR + 8.8)%.

2 Fair Value is set by the Bank for 1 square meter of the real estate (residential or public area), which makes the AMD equivalent of USD 700 max, multiplied by the total area of the purchased real estate, expressed in square meter.
For loans in other currency, the loan amount is calculated at the cash sale rate of USD set by the Bank at the date of filing of the loan application.

Terms and Conditions

Early repayment charge

Early repayment penalty, fine, commission, refund or other adverse conditions for the borrower - based on the loan agreement to be concluded between the Bank and the customer


Upon default of payment of principal and/or interests, the Borrower pays the Bank a penalty at 0.13% of the overdue principal and interest for each day of delay.

Principal and interest installments

Installments are made monthly by any of the below methods:

  • Annuity-based (equal monthly installments) including variable principal and accrued interests,
  • Descending (variable monthly installments) including equal amounts of principal and variable amounts of accrued interests.

Other terms

No evaluation is required for the purchased property.

The prepayment for the purchased property is entered onto the builder’s special account opened on behalf of ARTADRATEKHNOLOGIAKAN KOMPLEKTAVORUM CJSC, at the point of filing of the loan application.

Other terms, in compliance with the terms applied by the Bank to "Noramut" loan at the point of filing of the loan application.