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Student loan

Student loan

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Study today, pay tomorrow 

Since ARARATBANK attaches great importance to the education of the young generation and development thereof, it offers a new type of loan. Loans will be disbursed to master and bachelor students of state and state-accredited institutions of higher education within the framework of the project. During the study period the borrowers will repay interests only (maximum 4 years), and equal repayments of the principal and interests after graduation.

Within the framework of STUDENT LOAN program, 2-3% of the loan annual interest rate shall be subsidized by government.   

  • Interest rate

    9% 9% of which will be subsidized by the state 2 percentage points for all beneficiaries 3 percentage points for excellent students

  • Maximum amount

    AMD 2 800 000 AMD 2 800 000 disbursed in maximum 4 installments. Moreover, the amount of each installment shall not exceed AMD 700.000 depending on the amount of the tuition fee

  • Currency

    AMD

  • Period

    10 years

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Conditions
Borrower RA citizen and resident, who is either a master or a bachelor student of state and state-accredited institutions of higher education as specified in 
Loan currency AMD
Loan purpose Payment of tuition fees
Annual interest rate

 

9% of which will be subsidized by the state

2 percentage points for all beneficiaries
3 percentage points for excellent students
Loan maturity

A maximum of 10 years, from which only interest (maximum 4 years) is repaid during the course of study, and after the completion of the study, the principal amount of interest and repayments of interest
Maximum loan amount AMD 2 800 000 disbursed in maximum 4 installments. Moreover, the amount of each installment shall not exceed AMD 700.000 depending on the amount of the tuition feeր
Loan security

Guarantees by at least 2 people. Moreover, one of the guarantors shall be one of the parents of the Borrower or the guardian thereof, and second guarantor shall be the relative of the Borrower.
Requirement to the credit history of borrowers and guarantors The potential borrower and guarantors must not have classified liabilities on the day the loan application is submitted and the total of past due days must not exceed 30 days within previous 12 months
Guarantor credit rating

Pursuant to the Procedure of Consumer Loans Disbursement
Loan and interest repayments Monthly annuity payments
Loan and interest repayments Loan disbursement mode Non-cash to the bank account of an institution of higher education
Penalty on past due interest 0.07% per day
Penalty on past-due loan 0.06% per day
Requirement to students

Loan applications will be approved taking into account the progress of a student and based on the documents below: 

  • A first-year student – a copy of a school leaving certificate and results of entrance exams,
  • A second-year student and students of higher courses, as well as master students – a copy of a student’s record book,
  • Each student will be required to submit a reference from an institute of higher education, stating that the given student studies in the given institution. The reference shall be submitted at the beginning of each academic year.
Early repayment requirement In case of leaving the university, the student is obligated to repay the entire loan and the interest accrued at that moment as well as the penalties
Other There are no penalties for early loan repayments

Loan applications will be approved taking into account the progress of a student

Required documents

Please follow the Armenian version

 

List of higher education institutions

Please follow the Armenian version

Useful information

The loan application will be approved if 

1. the customer submits the complete package of documentation and the loan application. 
2. the query made to CBA credit register shows that the Potential borrower and/or the Potential guarantor did not have classified liabilities and/or on the whole were not at least 30 days past due within the past 24 months prior to the query. 
3. the appraised value of the Collateral or Collaterals meets the requirements. 
4. both the Borrower’s and the Guarantors’ revenues meet the requirements. 
5. the body authorized to take loan decisions approved the loan application. 
6. Other requirements.

The loan application will be rejected if 

1. the customer has failed to submit all documents necessary for getting the loan. 
2. the query made to CBA credit register shows that the Potential borrower and/or the Potential guarantor had classified liabilities and/or on the whole were at least 30 days past due within past 24 months prior to the query. 
3. the appraised value of the Collateral or Collaterals does not meet the requirements. 
4. both the Borrower’s and the Guarantors’ revenues do not meet the requirements. 
5. the Borrower and the Guarantor submits false documents and/or information. 
6. the rejection basis of loan application, which is not removed, is available in the credit historical database, 
7. the body authorized to take loan decisions rejected the loan application.
8. the loan has been approved, but the customer has failed to present himself/herself within 15 days after approval or has failed to present the necessary documents. 
9. Other requirements.

Attention

Please follow the Armenian version

Loan amount

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Annual interest rate

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Page updated 14.10.2019 | 16:06

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