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Lines of credit (overdrafts) — secured by bonds issued by ARARATBANK OJSC — to individuals at the same currency as bonds

Lines of credit (overdrafts) — secured by bonds issued by ARARATBANK OJSC — to individuals at the same currency as bonds

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ARARATBANK offers a bond-secured line of credit at the same currency of the bonds they hold.  

Bondholders only can apply to ARARATBANK for the line of credit.    

  • Interest rate

    The coupon rate of the issued bond+3%

  • Period

    The bond effective period

  • Maximum amount

    LTV ratio 95%

  • Currency

    Bond currency

Conditions
Overdraft amount

Interests paid at maturity Interests paid monthly
LTV ratio 90% LTV ratio 95%
Overdraft maturity Overdraft effective period cannot exceed the bond effective period.

Overdraft annual interest rate 3% per annum added to the coupon rate of the issued bond

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
Useful information

Please follow the armenian version

Attention

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.  

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Loan amount

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Annual interest rate

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Financial assistant
ABC finance

Page updated 14.04.2020 | 09:23

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