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Overdrafts for Diners Club Young Professional cardholders

Overdrafts for Diners Club Young Professional cardholders

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Overdraft is issued to RA citizen and resident individuals, with the employer of which the Bank carries out a salary project or the employer of which has a positive business reputation/high rating or whose revenue is acceptable for the Bank.

  • Currency

    USD, EURO

  • Maximum amount

    USD 3000, Euro 2000

  • Overdraft period

    36 months

  • Interest rate

    USD - 12% EUR - 11%։ actual interest rate USD - 13.35-22.94% EUR - 12.42-20.32%

Conditions

 

Borrower 20-63 RA citizen and resident individuals
Overdraft currency

USD

EUR

Overdraft maximum maturity 24-36 months
Annual interest rate

USD - 12%

EUR - 11%

Overdraft amount Based on the credit rating, however, not exceeding USD 3.000  or EUR 2.000  
Overdraft disbursement mode By payment card with cash-out capacity
Interest repayments Monthly
Overdraft repayments Monthly,  equal amortization
Penalty on past-due interest      0.07% daily
Penalty on past-due overdraft 0.06% daily
Payment card effective period 24 months
Annual service fee of the payment card

In compliance with the rate effective in the Bank  

Card service fee shall be charged once for the whole effective period of the card  

Requirements to the credit history of the Borrower  

Lack of past-due (except for repaid guarantees) or classified liabilities with the total of past-due liabilities not exceeding 30 days  within 24 months prior to the loan application      


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 effective annual interest rate may change depending on the change of the exchange rate value published on the official website of the Central Bank of the Republic of Armenia.

Where the loan is disbursed in foreign currency, changes in exchange rate may affect the loan repayments.

Required documents
  • Passport 
  • Social security card
  • Reference from the place of employment regarding position, salary and work experience in the given company․  
Useful information

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.


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.
Attention

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.

“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.

Loan amount

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Annual interest rate

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Financial assistant
ABC finance

Page updated 22.05.2020 | 17:07

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