U- Student + credit conditions

Target group

Payment for  education

Requirements to borrower

- Physical persons (Students or member of the family)

- Absence of negative credit history

- Monthly income /Salary/.

Credit Sum

Up to 1 000 000  AMD, but no more than payment for one semester

Credit Currency

AMD

Credit period

Up to 12 months

Prepayment

-

Interest rate

20% annually

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.

There is not envisaged nominal interest rate by the Bank during the activity of credits contracts, if the borrower does not violate determined conditions of the contract. Credit interest rate is calculated to the credit reduced reminder.

Guarantee

The guarantee of physical person (member of the family).

Credit provision order

Cashless

Credit repayment order

Principal sum on monthly basis, in equal (annuity) installments.

Pre-term repayment of the credit is allowed without any limits.

Cash-withdrawal commission

-  5 000 AMD, in case of credit sum up to 500 000 AMD

- 10 000 AMD, in case of credit sum up to 501 000 and more

Penalties

0.5% of overdue amount

Required documents

-   Application,

-   Passport,

-   Social card,

-   Reference from the employer about position and salary

-   Reference from the institute of higher education