“CLASSICAL”

Credit for purchasing housing property

(primary or secondary markets)

 Purpose

 Credit for purchasing housing property on the primary or secondary markets

Target group

Physical persons, RA residents, having a stable income

Maximum credit amount

A

B

C

150,000 USD

20,000,000 AMD

50,000 USD

10,000,000 AMD

25,000 USD

5,000,000 AMD

Maximum credit period (months)

AMD, USD
If the credit is provided in foreign currency, foreign currency movements may have its influence in the credit repayments. 

Maximum credit period (months)

A

B

C

180

120

84

Minimum prepayment

A

B

C

30%

40%

50%

Annual interest rate

A

B

C

11.9% - Secondary market

11.4% - Primary market

14%

15%

Credit interest is computed on the basis of the nominal interest rate. The actual interest rate shows the cost of the credit in case of timely payment of interest and other fees.  Please see the annual actual interest rate calculation formula here. During the validity of the credit contract the Bank does not change the nominal interest rate if the borrower does not break terms of the contract.

Commission

1. Commission fee provided for the credit granting-to the 0.5% of the credit sum, but not less than 80.000 AMD
2. Cash payment–according to the current tariffs of cash

Credit provision order

The credit is provided non-cash.

Repayment order

1. On monthly basis,  the main debt in equal installments.

2.  Annuity payments on monthly basis

Credit interest is computed on the reduced credit reminder.

Pre-payment possibility

Is allowed without any penalties

Penalties

For delay in payment of principal credit sum

0,2% on the overdue amount for each day of delay until the day of redemption 

For not paying interests

0,2% on the overdue amount for each day of delay until the day of redemption 

Security

Collateral

Acquired real estate

Third person guarantee

Is not obligatory

The appropriateness is determined by Bank

Attention
In case of interests and credit amount repayments not in time, the pledged property can be confiscated and the information on the borrower will be registered in the Credit Register.
In case of credit debts not fulfillment and debts repayment at the collateral 's expense, it is possible debts repayment at the expense of the other property of the borrower if the collateral is not enough to cover  borrower’s  credit debts. 

Collateral evaluation

Obligatory by the independent licensed appraiser company at the borrower’ expenses

Insurance

Property

Obligatory

Personal

Not obligatory

Requirements to the collateral

1.Apartment
The apartment should be highly liquid. The credits are not issued in buildings with high wear.
2.House
Own house should have a plot of land with separate convenient entrance. The house should not have common walls with neighbors. Minimum floor area - 100 sq.m.

Territorial limitation

Settlement

A

Yerevan  

B

Gumri, Vanadzor, Abovyan, Jrvej, Dzoraghbyur, Echmiadzin

C

Tsakhkadzor,Argavand, Parakyar, Kasakh, Aring, Stepanakert, Hrazdan, Sevan, Armavir, Martuni, Ashtarak,Kapan, Artashat,Ijevan, Dilijan, Stepanavan,Zovuni, Eghvard, Ptghni, Eghegnadzor, Jermuk, Artik, Gavar, Alaverdi