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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,  

Stepanakert branch

  • AMD 1.500 for a loan amount of up to AMD 100.000;
  • AMD 2.000 for a loan amount of AMD 100.001-200.000;
  • Set AMD 3.000 for an upfront fee charged for consideration of application, account processing and service of loans above AMD 200.001.      

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.

 

Required documents
  • Passport
  • Social security card
Useful information
  • Where a borrower fails to timely repay the loan and interests thereof, negative data shall be reported to the credit registry.   
  • Where a borrower fails to perform or duly perform the loan obligations assumed under the credit agreement within prescribed timelines and in a prescribed manner, any and all amounts due to the bank shall be repaid from the proceeds of foreclosure and sale of the pledged property.
  • Where a borrower fails to perform the 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.
  • You may activate SMS service upon request and receive information about monthly repayment of the loan or loan maturity. AMD 30 per SMS notification shall be charged. The service shall be activated FREE OF CHARGE.

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

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.

Gold prices
Gold karat Value per gram of gold (AMD)
585 14.400
750 18.500
875 21.500
916 22.500
958 23.500
999 25.000

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Annual interest rate

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Page updated 30.03.2020 | 11:09

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