“CLASSICAL”

Credit for purchasing business 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 sum

A

B

C

500,000

100,000

50,000

Credit currnecy

USD

Maximum credit period (months)

A

B

C

120

96

84

Minimum prepayment

A

B

C

30%

40%

50%

Annual interest rate

A

B

C

15%

17%

18%

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. Commissions for granting loans:

- For the credits up to 30,000 USD  - 50,000 AMD

- For the credits from 30,001 to  60,000 USD - 80,000 AMD

- For the credits 60,001 and more - 100,000 AMD

2. Cash-withdrawal commission (according to the tariffs for cashing at the time of withdrawal from the account)

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 branch managers, Administration of Retail Deposits or Credit Committee

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

Premise should be highly liquid, it should have a plot of land with convenient entrance.

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