The overdraft is offered at full-service branches of the Bank. 

When providing AMD-denominated credit lines (overdrafts) secured by a foreign currency deposit to natural persons, the average exchange rate of the Armenian dram against the relevant foreign currency published by the Central Bank of Armenia at 4 pm on the business day preceding the date of signing the relevant agreement shall be taken as foreign exchange reference rate for calculating conversion of the relevant foreign currency.

In the event that the LTV ratio reaches 95% due to foreign currency fluctuations, the pledgor shall be obliged to increase the eligible collateral or reduce the Overdraft limit within 5 business days, provided that the LTV ratio does not exceed 80%. In the event of failure to meet this condition, the Bank shall have the right to terminate the term deposit and use the deposit amount to repay the credit line.

Attention: Loan interest is calculated based on nominal interest rate, while the effective annual interest rate shows the cost of loan upon full and timely payment of interest and all mandatory loan processing and servicing fees.

The effective annual interest rate may change depending on changes in exchange rates published on the official website of the Central Bank of Armenia.

Exchange rate volatilities may affect the installments in case of loans in foreign currencies.

• Passport (ID)
• Social security card

Timeframes for loan approval, customer notification and loan disbursement

A lending decision is made within a maximum of 1 business day.

The Borrower is notified of the lending decision within 1 business day, and the loan is disbursed within 3 business days from the date of submission of all required documents.

The first withdrawal of the total amount of non-cash funds within the limit of the USD-denominated credit lines (excluding credit lines with grace period) disbursed after December 18, 2023 shall be free of charge. Zero rate shall also apply to the first withdrawal of the total amount of non-cash funds within the remaining limit of credit lines active as of December 18, 2023 (excluding credit lines with grace period), while a 0.5% fee shall apply to subsequent cash withdrawals.

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.

“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.

The bank may request additional documents or other information based on the "Know your customer" principle, as well as ask additional questions during oral communication, for the purpose of due diligence of the customer defined by the RA Law "On Combating Money Laundering and Terrorist Financing". .

In accordance with the agreement signed with the USA based on the Compliance Act (FATCA), the financial organization may collect additional information to determine whether you are a US taxpayer.

Fees for provision of statements, references and other data*

*VAT included