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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.

  • Overdraft period

    36 months

  • Maximum amount

    USD 3000, Euro 2000

  • Interest rate

    11-12% 12% - USD, 11%-EURO

  • Currency

    USD, EURO

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      

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

Please follow the Armenian version

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Annual interest rate

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Financial assistant
ABC finance

Page updated 17.09.2019 | 15:01

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