Overdraft terms and conditions to the customers sending and receiving money via fast remittance systems


Overdraft terms and conditions to the customers sending and receiving money via fast remittance systems   

Borrower

customers sending and receiving money via fast remittance systems   

Overdraft currency

USD

Annual interest rate

16 (sixteen) %

Overdraft maximum amount

USD 2.000, the total of  remittances sent and received each month 3 months prior to submitting the loan application should be USD 800.        

Overdraft maturity

24 months

Overdraft disbursement mode

By payment card

Card type

DC Young Professional

Card effective period

24 months

Cash withdrawal from ATMs and POS terminals of ARARATBANK OJSC  

1%

Annual service fee of the payment card            

AMD 4 000

Interest repayments

Monthly

Overdraft repayments

Equal amortization

Annual interest rate on past-due overdraft principle   

CBA settlement interest rate

Penalty on past-due interest    

0.2% daily

Penalty on past-due principle 

0.1% daily

Requirements to the credit history of the Borrower

Lack of past-due liabilities within 24 months prior to submitting the loan application. As for repaid liabilities, the loan must be at least classified as watched and the total of past-due liabilities shall not exceed 30 days.   




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