Conditions
Loan purpose
Car acquisition from the Primary market  (excluding RF)
Loan type
Consumer Loan
Loan amount
AMD  650.000-6.000.000 
 
Loan currency
AMD
Annual interest rate
16%
 
Loan term
12-36 months
 
Minimum prepayment
30%
Repayment frequency
Monthly
Loan repayment procedure
Monthly- equally  (annuitant), or Non-equally (differential) 
 
Security
Acquired car and at least 1 individual guarantor, who is not a member of the borrower's family
Loan to pledge value ratio
Maximum 70% of the liquidation value of the pledged car
 
Provision method
Non-cash
Commission fee
AMD 5000 for the study of the loan application which is not refundable Flat fee - 1.5% of the loan amount or   1% of loan amount in case of full insurance of the car
Loan formalization
in “ARMECONOMBANK” OJSC branches
Decision-making and loan provision period
10-12 banking days
Demands
Borrower requirements
Resident individual over 18 years Registered and living in the Republic of Armenia Has a constant income source acceptable by the Bank.
The Bank is cooperating with the following organizations
VECAR» LLC «KARCOMAUTO» LLC «MURAN» LLC «MEGNA» LLC «FORA» LLC «GALLOPER» LLC «UAZAVTO-HAYASTAN LLC
Negative decision grounds
Negative assessment on the customer’s financial condition
Non-credibility of the presented documents.
Costumer’s negative credit history
Other reasons which according to the Bank assessment will hamper the loan repayment
Penalties
Overdue Loan 0.2% of the unpaid amount for each overdue day Overdue Interest 0.4% of the unpaid amount for each overdue day
Guaranty
Minimum in the size of loan amount, realized by insurance company licensed by RA CB on the tariff determined by the latter. The tariffs vary from 2.5 -3% of the loan amount
Pledged vehicle appraisal
In case of loans granted for car acquisition from primary market, the application given by the partner company carrying out the realization of cars in the primary market shall be taken into account for the appraisal of cars value, given maximum 30 days prior.
Collateral arrangement expenses
All the expenses related to the collateral formation (notarization, registration of the real estate in subdivisions of Cadastral territory) is made by the borrower Notary fee - AMD 12.000 RA police fee (barrage and movable real estate pledge)- AMD 5000
Documents
Note Documents presented by individuals 
Punct Application about loan receipt,
Punct Passport copies,
Punct Marriage certificate and spouse's passport (if any) or declaration about being single,
PunctStatement from the workplace about income, given maximum 20 working days prior,
Punct Document containing public services number,
PunctStatement containing public services number,
Punct Copy of on-credit car acquisition agreement and the application filed by the sales realizing company where it is mentioned the acquired car's (cars') brand, price and quantity,
PunctStatement about limitations on the car, given by the state authority (after loan lending decision),
PunctIf necessary, other documents upon the Bank's claim.,
 
Հաշվիչ
Հավասարաչափ մարումներով
Results Արդյունք
N Վճարման ամսաթիվ Վարկի մնացորդ Վճարվող տոկոսագումար Մարում վարկից Ընդամենը վճարում
Մայր գումարի հավասարաչափ մարումներով
Results Արդյունք
N Վճարման ամսաթիվ Վարկի մնացորդ Վճարվող տոկոսագումար Մարում վարկից Ընդամենը վճարում
Updated: 04/05/2018 11:50