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 – 10,000,000

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.