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Loans to individuals

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

Land Acquisition Loans

1.	Loan purpose	Loans will be granted for acquisition of land plot(s) for residential or commercial purposes.
2.	Eligibility	RA resident or non-resident individuals aged 18 – 65 who during the loan period will not turn 65 or the loan will be shared by a co-borrower who meets these requirements.
3.	Loan currency	AMD			RA resident individuals
		USD, Euro			Non-resident individuals RA resident individuals – for buying commercial property
4.	Loan amount	AMD 2 000 000 – AMD 80 000 000			With income analysis
		AMD 2 000 000 – AMD 50 000 000			Without income analysis
5.	Loan repayment period	Fixed interest rate			60 - 180 months
		Floating interest rate			60 – 240 months
6.	Annual interest rates	Currency	Fixed rate	Actual rate	Floating rate		Actual rate
		AMD, income analysis	14-15%	15.2-16.3%	Started from 13.2% (fixed component: starting from 4.2% + variable component)		9.7–18.4%
		AMD, without income analysis	15-16%	16.3-17.5%	Starting from 14.2% (fixed component: starting from 5.2% + variable component)		10.8–19.6%
		USD	9.2-11%	9.8-11.8%	Starting from 9.2% (fixed component: starting from 8.2 % + variable component)		5.5-16.3%
		Euro	8.2-10%	8.7-10.7%	Starting from 7.7% (fixed component: starting from 7.7 % + variable component)		4.45-15.2%
		Maximum and minimum range of floating rate fluctuation			+4%
		The variable component of the floating interest rate will be revised starting the first due date following the 36-month period after the loan origination and every 6 months afterwards using the interest rate applicable in the Bank at the time of revision (published on the website). Floating interest rate calculation procedure
7.	Penalty for early loan repayment	Not applicable
8.	Penalty for late payment of loan principal and interest	For past due principal - 0,015 % per day, For past due interest - 0,1 % per day.
9.	Loan repayment method	Annuity or equal principal repayments; payments should be made on a monthly basis.
10.	Loan security	1. The property to be purchased, other real property. 2. Apart from the real property, the borrower may be required to provide a surety bond of an individual or a legal entity.
11.	Loan-to-value ratio ^[1]	Up to 70% of the appraised value				With income analysis
		Up to 50 % of the appraised value				Without income analysis
		In case of pledging additional real property, the loan amount should not be more than the appraised value of the real property to be purchased with retention of the ratio of Loan -to- value of all property items at 70% (50% if income is not analyzed).
12.	Insurance	Not required
13.	Loan disbursement method	Non-cash: the loan will be transferred to the seller’s bank account
14.	Other terms and conditions	The Borrower will make a down payment^[2], which will be frozen by the Bank until the loan is actually disbursed.
15.	Timeline for making decision on loan application approval or rejection	The decision on approving or declining the loan application will be made within 10 (Ten) business days upon submission of the entire package of required preliminary documents. The loan will be provided within 2 (two) business days after the approval of the loan application and completion of property pledging procedure.

[1] In calculating the Loan-to-value ratio, we take into consideration either the real property appraisal or acquisition value, whichever is less.

[2] At the amount of difference between the property acquisition value and loan amount.