Individual loans provided to individuals by products / Terms and Tariffs /

Who can apply

Individual residents of RA between the age of 21-65 who are  Visa Infinite cardholders of the Bank

Limit

1,000,000 - 10,000,000

AMD

Limit type

Revolving credit limit with grace period

Limit provision process

The credit limit is granted via Bank’s Visa Infinite payment cards

Currency

AMD

Nominal interest rate

AMD

15%

Grace period

Up to 45 days

Repayment period

12-36 months

Statement day

By 10 of each month

Repayment period

A grace period is defined for the repayment of utilized credit limit: from the 1^st of the current month till 16^th of the following month.

If during the period of 1-16 of each month (if 16^th of the given month is non-working than the due date is considered to be the next working day) the accrued debt as per the previous month statement is fully repaid, no any interest calculated for the utilized amount.

In case if the debt is not fully repaid during the above-mentioned period, interest is accrued since the date of the use up till full repayment of the debt.

Penalties

Monthly minimal payment overdue penalty - 0,015% daily,

Accrued interest overdue penalty- 0,1% daily

Creditworthiness assessment (credit approval criteria)

Important criteria for credit provision is considered to be:

1. Absence of loans with substandard or stricter classification for the last 12 months, absence of overdue or classified loans during the application submission (including guarantees) and total number of overdue days should not exceed 30 days for the previous 12 months.

2. Valid income

3. If necessary, a guarantee of at least 1 (one) physical person or 1 (one) legal person may be required

Deadlines for approving or rejecting loan provision

• The decision to approve or reject the loan is made within 7 (seven) working days maximum.
• The loan is granted in case of Bank’s positive decision, within 5 (five) working days maximum.