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Installment for Military

Special installment loan program for the personnel having a military rank

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
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.

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.

Other conditions

Loan repayment procedure

Monthly annuity instalments

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.