Overdrafts

Today overdraft is one of the best and the fastest ways to handle the unforeseen financial needs. Evocabank offers overdrafts with the minimum monthly prepayment.

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Retail
Loans
Loans
Overdrafts

1.	Purpose	For purchasing or ordering goods (services) for non-commercial, personal, family, household use.
2.	Eligibility	RA residents aged 21-60
3.	Currency	AMD
4.	Minimum and maximum limits	100,000 - 10,000,000
5.	Type of limit	Revolving, with minimum monthly repayments
6.	Overdraft provision method	The loan limit will be provided through Bank’s payment cards.
7.	Nominal interest rate	16% - 21.5%
8.	Actual interest rate	17.24% - 23.78%
9.	Grace period	Not applicable
10.	Repayment period	36 months
11.	Requirement for monthly payment of minimum amount	The cardholder shall pay 5% of the amount used during the previous month (minimum amount: AMD 5,000) + accrued interest prior to the deadline indicated in the account statement. A month is a period of time from the first day of the month to the first day of the next month.
12.	Account statement date	By 10^th day of each month
13.	Due date	16^th day of each month (if it is а non-business day, then the next business day).
14.	Penalty for late payment of principal and interest amounts	Penalty for failure to duly pay the minimum monthly amount - 0.015% per day Penalty for failure to duly pay the interest accrued - 0.1% per day.
15.	Creditworthiness assessment /loan approval terms/	Pursuant to the credit scoring system for assessment of online loans.
16.	Timeline for making decision on approving or declining loan application	The decision on approving or declining the loan application will be made within a few seconds. In case of deviations and/or rejection of applications by the automated scoring system, the decision will be made within 7 (seven) business days at most. The loan will be provided as soon as it is approved by the Bank within 1 (one) business day.