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Gold-backed loan

Gold-backed loan

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If you need urgent money to solve every-day problems, ARARATBANK offers consumer loans secured by gold items.

Gold-backed loans shall be disbursed by Stepanakert, Artsakh, Nairit, Sebastia, Mashtots, Khorenatsi, Gyumri, Abovyan, Tsaghkadzor, Davtashen, Byuzand, Shengavit, Dilijan, Nor Nork, Izmirlian, Artashat, Ejmiatsin, Vanadzor, Armavir, Sevan, Masis, Komitas, Hrazdan, Erebuni, Goris, Martuni, Jrvezh, Shirak, Spitak, Ashtarak, Ajapnyak, Ijevan, Nor-Nork 1, Avan Arinj, Charentsavan, Baghramyan, Arabkir, Vanadzor 2 and Gyumri 2 branches.

  • Currency

    AMD

  • Minimum amount

    AMD 30.000

  • Maximum amount

    AMD 2.000.000

  • Interest rate

    10-17%

Conditions

 

AMD

Loan amount

Min. 70.000,    max.  1.500.000. 
Repeated lending with the same collateral – max. 2.000.000




Min.30.000,  

max.69.999 

Maturity/day 70-100  101  - 190 

191 -

370 

371 - 740  741 – 1100 

300–

370

Loan to value ratio up to 100% of the appraised value



Loan and interest payments Loan repayment by maturity and interest repayment at the point of loan disbursement for the whole loan period

Loan repayment by maturity and interest repayment monthly Monthly annuity

Loan repayment by maturity and interest repayment monthly
Annual interest rate 10% 13% 15% 16% 17%  15%

Loan application review and service fees

Front end fee for the analysis of loan application, loan account processing and service fee shall be charged

  • - AMD 1.500 for the loan amount of up to AMD 100.000,
    - AMD 2.000 for the loan amount of AMD 100.001-200.000,
    - AMD 4.000 for the loan amount of AMD 200.001-400.000,  
    - AMD 7.000 for the loan amount of AMD 400.001-800.000,   
    - AMD 10.000 for the loan amount of AMD 800.001-1.000.000,    
    - AMD 15.000 for the loan amount of over AMD 1.000.001,  

 

 

Required documents
  • Passport
  • Social security card
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

Gold prices
Gold karat Value per gram of gold (AMD)
585 13․400
750 16․800
875 19.700
916 20.700
958 21.600
999 22.700

Loan amount

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Annual interest rate

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Page updated 16.10.2019 | 15:41

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