Loans are available to the client in AMD, USD and EUR in non-cash form and are credited to the borrower’s account with the bank.

The pledged real estate should be appraised by an independent company cooperating with the bank. The company is selected by the client from the approved list.

Real estate appraisal cost: 13,000-30,000 Armenian drams, depending on the area and type of property
Notary’s fee: 13,000-30,000 Armenian drams
Real estate state registration fee: 26,000-71,000 Armenian drams
Charge for the unified statement on real estate encumbrance: 10,000 Armenian drams

ATTENTION! IN CASE THE PROCEEDS FROM THE SALE OF THE COLLATERAL ARE NOT SUFFICIENT TO RECOVER THE OUTSTANDING LOAN, INTEREST AND OTHER AMOUNTS PAYABLE, THE BANK SHALL BE ENTITLED TO CHARGE ADDITIONAL AMOUNTS FROM THE BORROWER OR FORECLOSE OTHER EQUIVALENT PROPERTY ACCORDING TO THE PROCEDURE DEFINED BY THE ARMENIAN LEGISLATION.

Lending decision

The Bank makes an initial decision within 2 (two) banking days following receipt of the loan application. The final decision is made during no more than 8 (eight) business days after the client submits the complete set of required documents to the bank, and is communicated to the client within one business day. The loan proceeds are disbursed one business day after (i) the security agreements contemplated in the loan agreement are in place, i.e. are registered in form and substance satisfactory to the bank and signed pursuant to the Republic of Armenia legislation, (ii) the pledged assets are insured by the company cooperating with the bank, and (iii) the client has fulfilled all other mandatory requirements.

After the Bank has approved the loan application:
• The Bank starts loan processing and disbursement process if the borrower confirms his/her intention to get the loan within 45 (forty-five) calendar days after receiving loan approval notice.
• If the borrower confirms such intention after 45 (forty-five) calendar days following receiving loan approval notice, the loan approval decision needs to be re-approved.

Loan repayments may be affected by FX rates volatilities.

The borrower should maintain collateral protection insurance, which is subject to the tariffs and rates of the insurance company.