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

1.

Loan purpose

Loans will be issued through the Bank's partners for purchasing or ordering goods (works, service) for non-commercial personal, family or household use.

2. 

Eligibility

RA residents - Bank account holders who are 21 years of age or older but will not reach the age of 65 during the loan period.

3. 

Loan currency

AMD

4. 

Loan amount

AMD 50,000.00 – AMD 500,000.00

5. 

Loan disbursement method

Non-cash

6. 

Nominal interest rate per annum

21.5 %

Actual interest rate

23.82 %

8.

Loan repayment period

12-36 months

9. 

Loan repayment method

Annuity payments

10. 

Fees

Not applicable

11. 

Penalty charged for late payment of the principal and interest amounts

For past due principal amount - 0.015% per day,

For past due interest - 0.1% per day.

12. 

Creditworthiness assessment /loan approval criteria /

According to the scoring and creditworthiness criteria applied by the Bank

13. 

Timeline for making decision on  loan application approval or rejection

The decision on approving or declining the loan application will be made within a few seconds.
The loan will be made available within 1 (one) business day after the loan approval.

14. 

Other provisions

The partner organization undertakes to create in its Mobile application the possibility for Users to submit an online loan application to the Customer. The loan amount is transferred to the client's account opened in the bank/or to the settlement account of the Client's partner, and the Bank undertakes to pay the Provider for the Service provided and bears responsibility in accordance with the Agreement.

The Partner Organization shall be responsible for proper identification of Users/Customers