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Consumer loan secured by real estate without income analysis

Consumer loan secured by real estate without income analysis

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We don’t require a proof of income under the loan without income analysis. Instead, we make a loan-disbursement decision based on the loan security preferred by a customer.     

We save your time you spend to get required documents from the employer.    

  • Interest rate

    17-18% 36-60 months՝ 17%, 61-96 months՝ 18%

  • Maximum period

    36-96 months

  • Maximum amount

    AMD 75.000.000

  • Currency

    AMD

Conditions

 

Borrower

RA citizen and resident individual aged 22, whose age shall not exceed 55 

Currency AMD
Minimum loan amount AMD 1.500.000 
Maximum loan amount AMD 75.000.000  
Maximum loan maturity 36-96 months
Annual interest rate 36 - 60 months 17%, 61-96 months 18%
Loan and interest repayments Monthly, annuity repayment mode
Type of collateral** amd Maximum loan-to-value ratio

Real Estate (apartment, dwelling house, public space, except for production premises)

Mortgage can be the property in Yerevan establishing a maximum ratio of 60% , in Abovyan, Echmiadzin, Dilijan towns, establishing a maximum ratio of 50%, in Martuni, Goris towns to 30%, in Ijevan, Sevan, Masis, Armavir, Gyumri, Spitak, Hrazdan, Tsakhkadzor, Dilijan, Ashtarak, Artashat and Vanadzor - up to 40%.

Penalty on past-due interest 0.07% daily
Penalty on past-due principle   0.06% daily
Requirements to the credit history of the Borrower and Guarantors  The borrower and guarantor must not have past-due/classified liabilities (loan, line of credit, overdraft, guarantee etc.) on the day the loan application is submitted and within 24 months prior to the loan application as well as total days of past-due liabilities shall not exceed 30 days
Application processing fee AMD 5 000 
Loan file processing fee  0.5% of the loan amount, AMD 25 000 minimum and AMD 150 000 maximum
Credit rating The sum of all current loan commitments of the Borrower, including the guarantees provided and the loan extended, can not exceed 60% of the assessed liquidity value of the pledged property if the property is located in Yerevan, Abovyan, Echmiadzin and Dilijan, 50% in the remaining towns.

*Collateral shall be appraised by one of the independent appraisal companies cooperating with the Bank.

  • The property must be neither a public housing nor be located in the territory of other building – either hostel or hotel territory,
  • All unauthorized constructions of the real estate must be registered and outlined in the ownership certificate (must be legalized),
  • The real property must not be located in a three-degree and more unsafe building,
  • If the pledged property is a detached house, it will be completely pledged.
  • Loan interest rate shall be accrued over the outstanding amount with 365 days in a year.
  • Loan interests shall be calculated based on the annual nominal interest rate.
Required documents

Please follow the Armenian version

Useful information

The loan application will be approved if:

  1. the customer has submitted the complete package of documentation (passport and social security card, employment reference regarding position, salary and work experience in the given company).
  2. After the loan application and the required documentation have been submitted, a query is made ACRA credit bureau regarding the customer’s credit history.
  3. After the Bank discovers that the customer has a positive credit history or no credit history at all, the Bank shall make an evaluation of the customer’s creditworthiness and solvency.
  4. If the evaluation of creditworthiness shows positive results the Bank shall disburse the loan.

The loan application will be rejected if:

  1. the customer fails to submit all documents necessary for getting the loan (passport and social security card, employment reference regarding position, salary and work experience in the given company).
  2. the customer must have a six-month work experience and must have got a salary for at least 1 month.
  3. the query made to “ACRA Credit Reporting” credit bureau shows that the customer had past-due or classified liabilities within 24 months prior to the loan application (except for repaid guarantees) as well as the total of past-due liabilities exceeded 30 days. 
  4. the customer turned out to be not credit worthy as a result of credit rating.    
  5. the body authorized to take loan decisions rejected the loan application.
  6. the loan has been approved, but the customer has failed to present himself/herself within 10 days after approval or has failed to present the necessary documents.
  7. During the lending process the Bank has received information which prejudices the customer’s solvency. 
Attention

Please follow the Armenian version

Notification

1.No minimum loan amount is set.

2.Loan interest rate shall be accrued over the outstanding amount with 365 days in a year.

3.No penalties shall be applied for premature repayments of loan.

4.Loan interests shall be calculated based on the annual nominal interest rate.

5.Annual actual interest rate shows how much the loan will cost to the customer in case interests and other payments are repaid in due amounts and specified timelines.

Loan amount

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Annual interest rate

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Financial assistant
ABC finance

Page updated 19.07.2019 | 10:19

In case of discrepancy between Armenian and English versions of the information, the priority is given to the Armenian version.