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*No guarantor is required, where the income statement provided by the borrower meets credit rating requirements specified in this Table.   

Borrower and guarantor maximum age may be considered up to 60 years of age, where maximum loan maturity does not exceed 60 months.     

Attention: Loan interest rates shall accrue based on the nominal interest rate, while the effective annual interest rate shall show how much the loan will cost to you in case interests and other mandatory payments with regards to loan disbursement and service are repaid in due amounts and specified timelines.

**The collateral shall be appraised by an independent appraisal company cooperating with the Bank and must be acceptable for the Bank.

Dear Customer, the ratings and the number of inquiries generated as a result of your loan applications may affect your overall credit rating in the Scoring systems.

*Exceptions may apply for the age limit where the borrower age does not exceed 65 years of age by loan maturity.    

Attention: Loan interest rates shall accrue based on the nominal interest rate, while the effective annual interest rate shall show how much the loan will cost to you in case interests and other mandatory payments with regards to loan disbursement and service are repaid in due amounts and specified timelines.

**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.

Follow the Armenian version

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.

Your property (house, vehicle, or other) may be confiscated in the manner provided for by law where you fail to repay your interests and principal in time.

Where you fail to perform your loan obligations, the loan security, as well as another property of the borrower if the former is insufficient, may be seized and sold in a court or out-of-court procedure both through direct sale and public auction.

Where you fail to perform your obligations either fully or partially, the Lender shall send those data to the credit bureau within a three-day period, where your credit history is generated. You shall have the right to obtain your credit history from the bureau free of charge. Attention: A bad credit history may hinder lending in the future.  

When applying for a loan, the Lender shall provide you and guarantor(s) (if any) with an individual sheet on essential terms, wherein you will come across individual terms of the loan to be disbursed to you.  

“Your financial directory” is an electronic system which facilitates the search and comparison of the services offered to individuals, and selection of the best options for you.

You have the right to communicate with a financial institution of your choice by post or e-mail. Receiving information electronically is the most convenient option. It is available 24/7, free from the risks of loss of paper information and ensures privacy.

The bank may request additional documents or other information based on the "Know your customer" principle, as well as ask additional questions during oral communication, for the purpose of due diligence of the customer defined by the RA Law "On Combating Money Laundering and Terrorist Financing". .

In accordance with the agreement signed with the USA based on the Compliance Act (FATCA), the financial organization may collect additional information to determine whether you are a US taxpayer.

Please follow the Armenian version