- ATTENTION: LOAN INTEREST RATE MAY BE CHANGED BY THE BANK:
In case the Customer does not agree to the interest rate change he/she is entitled to untimely and unilaterally terminate the Contract thus fully repaying the loan principal amount and paying the calculated interest rates and making other payments. Regardless of the tariff rate stated by the Bank the interest rate of the loan (borrowing) cannot exceed double refinancing rate defined by the Central Bank of RA.
- WARNING: INTEREST RATES AND LOAN AMOUNT IF NOT PAID TIMELY, THE PROPERTY PLEDGED AND/OR FINANCIAL FUNDS MAY BE CONFISCATED BY THE LAW AND THE INFORMATION ABOUT THE CUSTOMER IS SENT TO THE CREDIT REPORTING AGENCY WITHIN 3 WORKING DAYS WHERE THE CUSTOMER’S CREDIT HISTORY IS FORMED. THE CUSTOMER IS ENTITLED TO ACQUIRE HIS/HER CREDIT HISTORY FROM CREDIT REPORTING AGENCY ONCE A YEAR FREE OF CHARGE:
- ATTENTION: BAD CREDIT HISTORY MAY PREVENT FROM RECEIVING LOAN IN THE FUTURE. IN CASE OF NON- FULFILMENT OF THE LIABILITIES BY THE CUSTOMER, WITH NON- SUFFICIENT PLEDGE DURING REPAYMENT OF THE LIABILITIES AT THE EXPENSE OF THE PLEDGE IT IS POSSIBLE TO REPAY THE LIABILITIES AT THE EXPENSE OF OTHER PROPERTY OF THE CUSTOMER.
- The credit line is provided for the whole period of the card validity.
- The credit line is provided to the borrower non-cash upon condition of monthly principal and interest repayments. The interest rate is applied on the reducing balance of the credit based on the calculation of 360 days per year.
- No interest is applied to the unused credit line funds.
- In case of provision of a credit line for a grace period, the amount of Credit line or part of it used during the reporting period, if repaid before the day of the end of Repayment period (inclusive), no interest will be calculated for it for the period from the Registration day to the day of actual repayment (inclusive).
- Overdue liability repayment: for each delayed day penalty of 13% of the overdue amount is applied.
- Early repayment of the credit line can be made any time, in this case no penalty and other payments are charged.
- Changes of foreign currency rate may affect the repayments of the credit line extended in foreign currency.
- Documents necessary for unsecured credit line
- passport
- personal private service number (PPS)
- income proof document, including a reference from workplace (as needed)
- Documents necessary for credit line secured by immovable property
Prior to loan approval
- Borrower’s passport and personal private service number (PPS)
- Certificate of immovable ownership and basis
- Passports of the immovable property owners and co-owners
- Certificate of Marriage (if married), Certificate of Divorce (if divorced) or Death Certificate (if widow/widower),
(if the property has been obtained afterthe marriage or prior to divorce)
- Wife’s/husband’s passport if married or divorced (if the property has been obtained after the marriage or prior to divorce)
- Preliminary appraisal of the immovable property
- Income proof documents as needed
After the loan approval
- Unified statement of immovable property
- Certificate of registration of right to immovable property pledge
- Criteria for the loan approval
- Sustainable income source
- Positive or neutral credit history
- Trustworthy and complete documents
- Criteria for loan denial
- Non-sufficient income for loan repayment
- Untrustworthy data provided by the customer
- Negative credit history
- Customer’s income source risk
- Approval of the loan and notice to the customer up to 1 working day after the submission of the necessary documents
- Time for lending: up to 3 banking days after approval of loan.
Հայերեն
English
