The loan is provided to RA citizens and/or residents for various personal needs:
|Loan currency and amount||Minimum loan amount - AMD 100,000 mln., maximum amount AMD 30 mln.|
|Maturity||Maximum 84 months|
Up to 60 months - 18%
61-80 months - 20%
|Loan disbursement fee||
Is charged before disbursement of the loan:
0.5% of the loan amount, minimum 25,000 AMD
|Fee for review of the loan application||AMD 5,000, is charged once, at the time of recording the loan application|
|Credit account service fee||AMD 2,000 monthly|
- The maximum amount of monthly repayments of the principal amount of the loan and the accrued interest cannot exceed 60% of the monthly net income /PTI/ earned by the Borrower and other members running common household with the Borrower and the co-borrowers, if any /this restriction refers to those loans for which income will be considered/;
- In case of loans for an amount of AMD 25 mln. and more, the maximum amount of monthly repayments of the principal amount of all loans outstanding at the time of disbursement and the accrued interest, including the loans disbursed to other members running common household with the Borrower, cannot exceed 70% of the total monthly net income /OTI/ earned by the borrower and other members running common household with the borrower and the co-borrower, if any;
- At the time of applying for the loan, the sum of the Borrower's age and the loan maturity cannot exceed 60, and the Borrower’s age at the time of loan disbursement shall be 23-55;
- Existence of 1 guarantor/co-borrower;
- During the last one year, the customer shall not have classified credit liability/ies/ and 20 and more overdue days for all loans;
- During the last one year, the members running common household with the Borrower shall not have credit liabilities classified as non-standard, doubtful, and loss.
Procedure of repayment of the loan and interest amount
Is repaid monthly, in one of the following manners:
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 15,000.
Real estate. The loan/collateral ratio is 60% of the evaluated liquid value of the property assessed by an independent appraiser, if the property is located in Yerevan; if the property is located outside Yerevan, not more than 50% or the evaluated liquid value of the property assessed by an independent appraiser.
List of required documents to be submitted to the Bank*
1. The loan application-questionnaire;
2. Personal identification document, public services number, or a reference on absence of a public services number issued by the body running the state register of the population (isn’t required, if the customer submits an identification card, where the public services number is specified);
3. Reference on the place of residence, specifying the family members living together;
4. Reference from the place of employment /issue date of the document as of the day of submission to the Bank shall not exceed 20 calendar days/. The Borrower can also be required to present a copy of his/her available annual individual report presented by the employer for the Borrower:
4.1. In case of conducting other not entrepreneurial activity /e.g. investments, giving property for rent, investments in deposits, etc./ reference on income received from those activities should be submitted;
4.2. In case of conducting entrepreneurial activity:
• a reference on income received from the activity - for legal entities;
• financial analysis - for private entrepreneurs and private individuals.
4.2.1. If required, in case when the borrower is a PE and conducts certain activity for which licensing or permission for the activity is required - the respective license and/or permission, if it is a factor significantly affecting the Borrower's income;
5. Original of the ownership right certificate for the pledged property and the basis of acquisition /purchase and sale agreement, inheritance certificate, etc./ shall be submitted before disbursement of the respective loan. In exceptional cases, it can be required by the Bank before approval of the loan application;
6. Certificate/act on preliminary evaluation of the collateral;
7. Marriage certificate/s/ (if any) of the Borrower and pledgers (if they are different persons);
8. If the Borrower is a private entrepreneur - a reference from the SRC regarding the Borrower's liabilities towards the state;
9. Other necessary documents.
*No reference on income and/or reference from the place of employment (clauses 4., 4.1., 4.2. of the required documents to be submitted to the Bank) is required for loans with an amount up to AMD 15,000,000 secured with real estate located in Yerevan, and for loans with an amount up to AMD 8,000,000 with real estate located outside Yerevan, therefore, the income indices aren't calculated.
In the Loan isn't a consumer loan, then, if the Loan is fully repaid during the first three years following the date of Loan disbursement, the Borrower, at the Bank's discretion, shall pay penalty to the Bank for early repayment of the Loan, equal to 3% (three percent) of the initial Loan amount, unless some other rate of early repayment penalty has been agreed between the Parties.
If the Loan isn’t consumer lending, then, in case if the Loan is fully repaid within the first 3 calendar years of the Loan validity period, at the Bank’s discretion the Borrower shall pay early repayment penalty to the Bank equal to 3% (three percent) of the initial Loan amount, unless another size of penalty for early repayment of the Loan is agreed between the Parties.
The loan is disbursed at the head office and the branches.
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.