Credit Line with Visa Infinite Card

Get credit line from Evocabank with Visa premium class Infinite card and you’ll have lots of benefits.

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Credit Line with Visa Infinite Card

Who can apply	Individual residents of RA between the age of 21-65 who are Visa Infinite cardholders of the Bank
Limit	1,000,000 - 10,000,000		AMD
Limit type	Revolving credit limit with grace period
Limit provision process	The credit limit is granted via Bank’s Visa Infinite payment cards
Currency	AMD
Nominal interest rate	AMD	15%
Grace period	Up to 45 days
Repayment period	12-36 months
Statement day	By 10 of each month
Repayment period	A grace period is defined for the repayment of utilized credit limit: from the 1^st of the current month till 16^th of the following month. If during the period of 1-16 of each month (if 16^th of the given month is non-working than the due date is considered to be the next working day) the accrued debt as per the previous month statement is fully repaid, no any interest calculated for the utilized amount. In case if the debt is not fully repaid during the above-mentioned period, interest is accrued since the date of the use up till full repayment of the debt.
Penalties	Monthly minimal payment overdue penalty - 0,015% daily, Accrued interest overdue penalty- 0,1% daily
Creditworthiness assessment (credit approval criteria)	Important criteria for credit provision is considered to be: 1. Absence of loans with substandard or stricter classification for the last 12 months, absence of overdue or classified loans during the application submission (including guarantees) and total number of overdue days should not exceed 30 days for the previous 12 months. 2. Valid income 3. If necessary, a guarantee of at least 1 (one) physical person or 1 (one) legal person may be required
Deadlines for approving or rejecting loan provision	The decision to approve or reject the loan is made within 7 (seven) working days maximum. The loan is granted in case of Bank’s positive decision, within 5 (five) working days maximum.