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Home renovation mortgage loans from families displaced from Artsakh

1.	Eligibility	RA residents and non-residents 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.
2.	Program beneficiaries	Individuals defined by Government Decrees N 169-L dated February 17, 2022; N 842-L dated June 9, 2022; and N 710-L dated May 16, 2024.
3.	Loan purpose	Renovation of an apartment/residential house acquired under the programs and pledged to EVOCABANK, or of a constructed residential house.
4.	Loan currency	AMD
5.	Loan amount	AMD 100,000.00 – 10,000,000.00; in the case of loans provided under Decrees N 169-L and N 710-L, the amount shall not exceed the difference between the certificate value and the actual contractual amount of the mortgage loan.
6.	Loan repayment period	60 months
7.	Nominal interest rate per annum	13%
8.	Penalty for early loan repayment	Not applicable
9.	Penalty charged for late payment of loan principal and/or interest	For past due principal - 0,015 % per day, For past due interest - 0,1 % per day.
10.	Loan security	Not required; however, a guarantor may be required at the Bank’s discretion.
11.	Insurance	Not required
12.	Loan disbursement method	Non-cash: in a lump-sum or in several tranches, based on the Bank’s decision
13.	Fees and charges	Not applicable
14.	Creditworthiness assessment	As of the date of the loan application, the borrower should not have substandard loans. Creditworthiness assessment is not required.
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, If approved by the Bank, the loan will be provided within 2 (two) business days.
16.	Other provisions	The cases falling outside these terms, will be regulated based on the provisions and terms as specified by Government decisions 169-L dated February 17, 2022; N 842-L dated June 9, 2022; and N 710-L dated May 16, 2024.