Loan service fees, including fees for modification of the loan terms and substitution of the collateral, are presented at the link below.
These fees apply if changes are initiated by the client. Where several fees are payable due to a single change, only the highest of them shall be charged for one time. These fees do not apply to loans secured by cash, bonds and metal accounts. Where a new collateral or guarantor is added due to the change of pledge, the fee is not charged.
The client will pay for the following services:
- Notary fee: AMD 14,000-16,000 lump-sum (in case of vehicles)
- Notary fee: AMD 13,000-18,000 lump-sum (in case of real estate)
- Fee for unified statement from the State Real Estate Cadaster on encumbrance of the property: AMD 10,000
- Fee for registration of security interest in the real estate: AMD 26,000
- Certificate of the right to purchase real estate and registration of the security interest: AMD 3,000 and AMD 50,000
- Certificate of acquisition of the title to the real estate and registration of the security interest: AMD 21,000 and AMD 50,000
- Certificate of acquisition of the title to the commercial real estate and registration of the security interest: AMD 41,000 (if the area of the premises to be purchased and pledged is above 200 sq. m) and AMD 50,000
- Fee of the Police of the Republic of Armenia (for lien and pledge of movable property): AMD 5,000 lump sum
N/A, if the car is bought from car dealer. Estimated pledge value is based on the price specified in the reference provided by car dealer to the client.
Insurance of pledged property
Insurance for the pledged property to be obtained on an annual basis throughout the loan term:
- By the bank to the extent of outstanding loan
- By the client at least to the extent of outstanding loan
The Bank doesn’t obtain insurance for the following vehicles:
- Vehicles transporting hazardous materials (toxic substances, chemicals, radioactive and explosive materials)
- Vehicles to be used in races, test drives; vehicles which have three wheels, snow removers, motorcycles, special purpose vehicles
- Taxis and rental cars
Required documents filed together with loan application
- Loan application
- ID [original]
- Certificate of ownership of property to be purchased/pledged [copy]
Documents required after initial approval
- Proof of employment and/or other income
- Marriage (divorce, spouse death), birth certificate [original]
- Certificate of title to real estate to be pledged [original]
- Geodetic measurement report of land plot to be pledged**
- Initial real estate appraisal report
- Construction costs estimate
Documents required after loan approval
- Copies of bases of title to real estate (to be submitted upon request)
- IDs of owners of property to be purchased/pledged [originals]
- Copies of marriage (divorce, spouse death) certificates of owners of property to be pledged
- Statement from the State Committee of Real Estate Cadaster on encumbrance of real estate (unified statement)
- Real estate appraisal report (final)
- Other documents as the bank's specialist may request
We will provide you the statements of your credit accounts through communication channels and at frequency agreed between you and us and/or in accordance with the Armenian laws and regulations. The statements are provided by post, email, Internet-Bank or in person at any branch of the Bank.
THE LOAN INTEREST RATE MAY NOT EXCEED THE DOUBLE OF THE BANK RATE DECLARED BY THE CENTRAL BANK OF ARMENIA.
THE PLEDGED PROPERTY MAY BE FORECLOSED IF THE BORROWER FAILS TO REPAY LOAN AMOUNT AND INTEREST IN TIME. IF THE VALUE OF THE COLLATERAL IS INSUFFICIENT, OTHER PROPERTY OF THE BORROWER WILL BE ENFORCED TO REPAY THE BORROWER’S OBLIGATIONS.
IF YOU FAIL TO PERFORM YOUR OBLIGATIONS IN A PROPER MANNER, THE LENDER WILL REPORT INFORMATION ABOUT YOUR OVERDUE OBLIGATIONS WITHIN 1-3 BUSINESS DAYS TO THE CREDIT BUREAU WHERE YOUR CREDIT HISTORY IS GENERATED. YOU ARE ENTITLED TO OBTAIN YOUR CREDIT HISTORY FROM THE CREDIT BUREAU ONCE A YEAR, AT NO COST. ATTENTION. BAD CREDIT HISTORY MAY AFFECT YOUR FUTURE ATTEMPTS TO GET A LOAN.
When you repay your overdue debt, the payment will be made in the following order:
- Fines and penalties
Consumers are allowed to cancel the credit agreement at their own discretion, for no particular reason, within 7 business days following its execution unless a shorter period is stipulated therein (cooling-off period). In such cases, consumers are required to pay the interest accrued at the annual percentage rate under the credit agreement. The consumer will not be required to pay any other reimbursement in relation to the cancellation of the credit agreement.
LOAN INTEREST IS CALCULATED AT THE NOMINAL INTEREST RATE. THE LATTER SHOWS THE ANNUAL INTEREST ON THE LOAN CALCULATED AS A PERCENTAGE OF THE OUTSTANDING LOAN BALANCE. THE LOAN INTEREST IS ACCRUED TO THE OUTSTANDING LOAN PRINCIPAL IN THE LOAN CURRENCY DAILY, BASED ON A 365-DAY CALENDAR YEAR.
THE ANNUAL PERCENTAGE RATE SHOWS THE COST OF THE LOAN IN CASE OF DUE AND TIMELY REPAYMENTS UNDER THE AGREEMENT.
The amount of interest is calculated based on the annual nominal rate and manner of the loan repayment.
ATTENTION! “YOUR FINANCIAL DATABASE” IS AN ELECTRONIC SYSTEM AIMED AT FACILITATING SEARCHING AND COMPARISON OF THE SERVICES OFFERED TO INDIVIDUALS AND MAKING THE CHOICE EASIER FOR YOU.