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

Loan purpose

The loan is granted for the purpose of ordering or purchasing goods (work, services) for personal, family, home or other use not related to business activities.

Who can apply

Individual residents of RA between the age of 18-63, whose age will not exceed 63 years throughout the loan service period or have a co-borrower meeting the above criteria throughout the loan service period.

Loan currency

AMD

Loan amount

Without proof of income

1,000,000 – 3,000,000

Based on income

1,000,000 – 10,000,000

Loan repayment period

36-60 months

Annual nominal interest rate

Nominal

Actual 

Without proof of income

21%

23.17%

Based on income

19%

20.77%

Early loan repayment penalty

No early payment fee is applicable

Penalty for loan principal and/or interest overdue

For overdue principal - 0,015 % daily,
For overdue interest - 0,1 % daily 

Loan provision methods

Non-cash 

Loan repayment security measure

AMD 1,000,000

For applications without proof of income, a minimum of 1 (one) guarantor

AMD 1,000,001-3,000,000

For applications without proof of income, a minimum of 2 (two) guarantors

AMD 1,000,000-3,000,000

Guarantee of at least 1 (one) person for applications based on income

AMD 3,000,001-10,000,000

Guarantee of at least 2 (two) individuals

Assessment of creditworthiness / loan approval conditions /

• A simplified creditworthiness assessment is performed during the analysis of income-based applications, but the OTI ^[1] ratio should not exceed 70%.
• Regardless of the loan amount and the availability of sufficient substantiated income, according to the information received from "ACRA Credit Reporting" CJSC, the FICO (score) of the Client or any of the guarantors must be 540 or higher.
• In the case of lending without income, the Client should not have classifications of credit obligations during the last 1 year and the sum of days of delay in repayments should not exceed 30 days.

In case of refinancing from other banks and credit organizations /special condition/

In the case of refinancing loans from other banks and credit organizations, if the expected loan amount exceeds AMD 3,000,000, a grace period of up to 6 months may be provided for principal repayment.

Deadlines for approving or rejecting loan provision

• The decision to approve or reject the loan is made within 3 (three) working days maximum, after fully providing all the initial documents requested by the Bank.
• The loan is disbursed in case of positive decision made by the Bank and within maximum 2 (two) working days since signing loan and guarantee agreements/consents.

Other terms

Provided loans are credited to the Bank account.
The person related to the loan applicant (family member or joint venture) should not have a valid loan of this type.