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Credit card Visa Electron and Visa Classic for consumer needs

Requirements to borrower

1.   Lecturers in Higher Education Institutions, health sphere officials, international and governmental institutions or officials, with the salary not less than 250.000 AMD. 

2.   Absence of negative credit history.

Purpose

Consumer needs

Required documents

- application form

- passport and social card

- reference from the employer about position and salary

- inquiry to the credit bureau ACRA (Free)

- Other documents (by the requirement of the Bank)

Credit sum

Up to  2 000 000 AMD and equivalent in USD/EUR

Credit currency

AMD, USD, EUR

Credit period

Up to 24 months, with the possibility of prolongation

Security

-

Annual interest rate

- If credit sum in AMD  - 20% on the used portion of the overdraft,

- If credit sum in USD  - 19% on the used portion of the overdraft,

- If credit sum in EUR  - 18% on the used portion of the overdraft.   

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

Card categories

In case of sum up to  300 000 AMD- Visa Electron

In case of 301 000 AMD and more - Visa Classic

Payment for annual account service

 3 000 AMD

 5 000 AMD

Cash-withdrawal commission

0.5%

Repayments order

1. Repayment of a negative balance at the time of generation of discharge by 10 percent, with a positive turnover of the last day of that month.

2. On monthly basis, in equal (annuity) installments. Interests are computed on the reduced credit reminder.

Penalties

- In case of non compliance with the order of payment client will be charged a one-time fine of 3% of the negative remainder.

- Interest rate accounted to the overlimit, according to the current tariffs of the Bank.

   The maximum period for the approval of the credit application is 3 working days after necessary documents presentation by the client.

  Bank informs the client on the decision of the credit application within one working day.

  The credit is provided to the client within one working day after concluding all the necessary contracts.