Gold Secured (Pawn) Loans

1.

Loan purpose

Loans secured by gold 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 (for bank branches in provinces 50,000) – 50,000,000

5.

Loan repayment period

3 - 36 months

6.

Loan repayment method

Loan repayment period

Repayment method

3-12 months

Bullet payment or annuity payments

13-36 months

Annuity payments

7.

Annual interest rate

Loan repayment period

Loan repayment method

Maximum actual

Annuity payments

Bullet payment

For loans with repayment period of 3-6 months

15.5%

16.5%

17.97%

For loans with repayment period of 7-24 months

16%

17%^[1]

18.48%

For loans with repayment period of 25- 36 months

17%

18%^[2]

19.59%

8.

Penalty for early loan repayment

Not applicable

9.

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.

10.

Loan-to-value ratio 

Annuity payment

Up to 95% of appraised value of gold articles

«Bullet» payment /for a period of 1 - 6 months/

«Bullet» payment / for more than a 6-month period/

Up to 90% of appraised value of gold articles

11.

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.

12.

Other terms and conditions

• Loans denominated in AMD 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.

13.

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. Other documents as may be required by the Bank.