Gold Secured (Pawn) Loans Based on Creditworthiness

Evocabank offers gold secured loans in cash and non-cash.

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Gold Secured (Pawn) Loans Based on Creditworthiness

1.	Loan purpose	Loans will be provided for purchasing or ordering of goods (works, services) for non-commercial, personal, family, household use.
2.	Eligibility	RA residents aged 18– 70. The total of the borrower's age and loan period should not exceed 70.
3.	Loan currency	AMD
4.	Loan amount	100,000 – 50,000,000
5.	Loan repayment period	24-36 months
6.	Loan repayment method	Annuity plan
7.	Loan disbursement method	Non-cash
8.	Nominal interest rate per annum	19.5%
9.	Actual interest rate	21.38%
10.	Penalty for early loan repayment	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.	Loan-to-value ratio	Up to 150%^[1]
13.	Special condition	A single borrower can have credit liabilities in relation to this loan product equal to or below AMD 10,000,000.
14.	Timeline for making decision on loan application approval or rejection	The decision on approving or declining the loan application will be made within 1 (one) day. The loan will be made available to the borrower within 1 (one) business day once the loan is approved by the Bank.
15.	Other terms and conditions	The loan amount will be credited to the bank account. Upon repayment of the loan, the gold securing the loan will be returned to the borrower within 2 business days.
16.	List of required documents	1. Application for a gold-secured (pawnshop) loan, 2. passport or ID card, 3. social card or statement on absence of social card (while social card and statement on its absence are not required if the applicant has an ID card), 4. Employment verification letter, whenever required, 5. Other documents as may be required by the Bank.