Real estate secured overdrafts without income analysis

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Individual
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Overdrafts/Credit lines
Real estate secured overdrafts...

To meet customer needs, we drafted a loan type without income analysis.

If you are a diligent borrower and you can’t submit a proof of income, then we have a simple lending solution for you.

Interest rate

13-14% 36-60 months՝ 13%, 61-96՝ 14% (USD) 36-60 months՝ 12%, 61-96՝ 13% (Euro)
Maximum period

36-96 months
Maximum amount

USD 150.000 Euro 100,000
Currency

USD․ EUR

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Conditions

Borrower*	RA citizen and resident individual aged 22, whose age shall not exceed 55
Currency	USD Euro
Maximum loan amount	USD 3,000 Euro 2,500
Overdraft maximum amount	USD 150.000 Euro 100,000
Overdraft maximum maturity	36-96 months
Overdraft annual interest rate	36-60 months՝ 13%, 61-96՝ 14% (USD) 36-60 months՝ 12%, 61-96՝ 13% (Euro)
Overdraft disbursement mode	By payment card
Overdraft and interest repayments	Monthly, flat rate depreciation or annuity repayment (annuity repayment shall apply for non-revolving credit lines).
Type of collateral* Maximum overdraft-to-value ratio	Real Estate (apartment, dwelling house, public space, except for production premises) The loan security can be the property located in Yerevan city with 60% LTV, Abovyan, Ejmiatsin, Dilijan, Armavir, Masis, Gyumri, Spitak, Hrazdan, Tsaghkadzor and Ahstarak towns with maximum 50% LTV, and Ijevan, Sevan, Artashat, Martuni, Goris and Vanadzor towns with up to 40% LTV.
Penalty on past due interest	0.07% daily
Penalty on past due principle	0.06% daily
Requirements to the Borrower’s credit history	The borrower and guarantor must not have past-due/classified liabilities (loan, line of credit, overdraft, guarantee etc.) on the day the loan application is submitted and within 24 months prior to the loan application as well as total days of past-due liabilities shall not exceed 30 days.
Loan application processing fee	AMD 5 000
Fee for compiling and processing the loan file	0.3% of the overdraft amount, AMD 20 000 minimum and AMD 150 000 maximum.
Credit rating	the total of all existing loan liabilities of the Borrower including issued guarantees (except for the real estate secured liabilities) and overdraft may not exceed the LTV indicator+10% of the appraised liquidation value of the pledged collateral set out for the given towns.
Card type	MC Standard, Visa Classic
Annual service fee of the payment card	AMD 5000, no minimum balance requirement is set. Card service fee shall be charged once for the overdraft whole effective period. In case of premature repayment, the amount charged for unused years shall be charged back to cardholder.

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

Required documents

Please follow the Armenian version

Important to know

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.

Attention

Please follow the Armenian version

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Loan amount

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Annual interest rate

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Maturity date:

Maturity type

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