Deposit secured overdraft


Deposit-secured overdraft

 Terms and conditions of the deposit-secured overdraft to individuals at the same overdraft currency

Overdraft amount

Interest repayment by maturity

Monthly interest repayment

90% of loan-to-value ratio

95% of loan-to-value ratio

Overdraft maturity

Overdraft effective period cannot exceed the deposit effective period

Overdraft annual interest rate

Deposit interest rate + 3% per annum

Penalty on past-due interest

0.3%

Penalty on past-due overdraft   

0.2%


For the types of deposit offered to individuals please go to
 

Annual actual interest rate calculation formula and sample

Annual actual interest rate shall be calculated based on the following formula 

 

i

stands for the annual actual interest rate, which is a Borrower’s total expense, expressed by annual interest rate of the disbursed loan, and which includes all interest and other payments, which the consumer shall be obliged to pay on the point of receiving the loan as well as during the whole effective loan period. 

A

stands for the initial amount of the loan to the consumer 

n

stands for the number of payment for the loan

N

stands for the number of the last payment for the loan

Kn

amount of nth payment for the loan

Dn

stands for the period between the day of loan disbursement and nth loan repayment day, expressed by the number of days

Loan calculation sample:

  • Term deposit  – AMD 1,500,000, 14% annual interest rate,
  • Loan amount – AMD 1,350,000(1,500,000×90%),
  • Annual interest rate of the loan - 17 %( 14%+3%),
  • Loan maturity - 12 months,
  • Annual actual interest rate will make 16, 99%. 

This calculation example is conventional.

 




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