Parking space purchase loan

With Evocabank's new loan offer, you can finally acquire your own parking space and forget about the inconveniences of parking your car.

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Parking space purchase loan

1.	Loan purpose	Loans are designed for purchasing of parking lots (including the right to purchase) from property developers – Bank partners.
2.	Eligibility	RA residents and non-residents aged 18 – 65 who during the loan period will not turn 65 or the loan will be shared by a co-borrower who meets these requirements.
3.	Loan currency	AMD
4.	Loan amount	2 000 000 – 8 000 000
5.	Loan repayment period	36 - 60 months
6.	Annual interest rate	Nominal	Actual
		16%	17.25%
7.	Loan repayment schedule	Annuity scheme (principal and interest payments will be made on a monthly basis in equal amounts)
8.	Penalty for early loan repayment	Not applicable
9.	Penalty for late payment of loan principal and interest	For past due principal - 0,015 % per day, For past due interest - 0,1 % per day.
10.	Loan disbursement method	Non-cash
11.	A lump-sum fee for loan disbursement or monthly loan service fee	Not applicable
12.	Loan security	If the applicant has got a mortgage with the Bank, the competent body of the Bank may request a surety bond to be issued by at least one individual.
		If the applicant has no mortgage with the Bank, the loan must be backed by at least one surety bond.
13.	Timeline for making decision on loan application approval or rejection	The decision on approving or declining the loan application will be made within 3 (Three) business days upon submission of the entire package of required preliminary documents. The loan will be disbursed within 2 (Two) business days upon approval of the loan application and conclusion of loan and surety agreements/contracts.