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

1.

Purpose

For purchasing or ordering goods  (services) for non-commercial, personal, family, household use.

2.

Eligibility

RA residents aged 21-60

3.

Currency

AMD

4.

Minimum and maximum limits

100,000 - 10,000,000

5.

Type of limit

Revolving, with minimum monthly repayments

6.

Overdraft provision method

The loan limit will be provided through Bank’s payment cards.

7.

Nominal interest rate

16% - 21.5%

8.

Actual interest rate

17.24% - 23.78%

9.

Grace period

Not applicable

10.

Repayment period

36 months

11.

Requirement for monthly payment of minimum amount

The cardholder shall pay 5% of the amount used during the previous month (minimum amount: AMD 5,000) + accrued interest prior to the deadline indicated in the account statement. A month is a period of time from the first day of the month to the first day of the next month.

12.

Account statement date

By 10^th day of each month

13.

Due date

16^th day of each month (if it is а non-business day, then the next business day).

14.

Penalty for late payment of principal and interest amounts

Penalty for failure to duly pay the minimum monthly amount - 0.015% per day

Penalty for failure to duly pay the interest accrued - 0.1% per day.

15.

Creditworthiness assessment /loan approval terms/

Pursuant to the credit scoring system for assessment of online loans.

16.

Timeline for making decision on approving or declining loan application

• The decision on approving or declining the loan application will be made within a few seconds.
• In case of deviations and/or rejection of applications by the automated scoring system, the decision will be made within 7 (seven) business days at most.
• The loan will be provided as soon as it is approved by the Bank within 1 (one) business day.