TERMS AND CONDITIONS OF CONSUMER LOANS SECURED BY REAL ESTATE


Terms and conditions of consumer loans secured by real estate

Borrower

RA citizen and resident individual aged 22 (twenty-two)

Borrower age shall no exceed 55 (fifty-five) 

Guarantor*

RA citizen and resident individual aged 22 (twenty-two)

Borrower age shall no exceed 55 (fifty-five) 

Currency

AMD

Loan purpose

Personal

Maximum loan amount

AMD 30.000.000

Maximum loan maturity

60 months

Annual interest rate

16%

Loan disbursement mode

Cash/non-cash

Principle and interest repayments

Annuity repayment mode

Type of collateral**

Real estate acceptable for the Bank (apartment, residential house, public space, except for  production areas)

Maximum loan-to-value ratio  (liquidation value)

 70%

 

Annual interest rate on past-due principle

Annual interest rate stipilated by loan agreement

Penalty on past-due interest 

0.3% daily

Penalty on past-due principle   

0.2% daily

Requirements to the credit history of the Borrower and Guarantor   

Lack of classified liabilities within 24 months prior to the loan application (except for redeemed guarantees) as well as the total of past-due liabilities shall not exceed 40 days     

Application processing fee

AMD 5 000 

Loan file preparation and service fee

0.1% of the loan amount, min. AMD 10 000

Credit rating

1.Debt-to-income maximum ratio 35% (monthly repayment of the given loan/borrower’s and co-borrower’s or guarantor’s income)

2. Total debt-to-income maximum ratio 45% (all liabilities of the borrower and co-borrower or guarantor / borrower’s and co-borrower’s or guarantor’s income)

Non-taxable income shall be taken as basis.

Minimum consumer basket shall not be calculated.

Premature repayment

No penalty charged 


*No guarantor shall be required, if the Borrower income comply with the requirement of the credit rating as specified in Clause 18 of the present Annex.

**The collateral shall be appraised by an independent appraisal company cooperating with the Bank and must be acceptable for the Bank.

 

 

 




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