Conditions
Loan purpose
Car acquisition from  the secondary market and under the pledge of vehicles
Loan type
Consumer Loan
Loan amount
AMD  650.000-6.000.000 
 
Loan currency
AMD
Annual interest rate
16-17%%
 
Loan term
18-36 months
 
Minimum prepayment
50%
Repayment frequency
Monthly
Loan repayment procedure
Monthly- equally  (annuitant), or Non-equally (differential) 
 
Security
Acquired or pledged car (Audi, Bentley, BMW, Ford, Honda, Škoda, Suzuki, Toyota, Volkswagen, Volvo, Infiniti, Kia, Land Rover(Range Rover), Lexus, Mitsubishi, Nissan, Opel, Porsche, Mazda, Mercedes-Benz)  and at least the  guaranty of 1 individual, who is not a member of borrower's family.
Loan to pledge value ratio
Maximum 50% of the liquidation value of the pledged car
 
Provision method
By cash and Non-cash
Commission fee
AMD 5000 for the study of the loan application which is non-refundable 2% of 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
Up to 10 working days (In case of mortgage the loan is provided within 2 business days following the receipt of collateral registration right)
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.
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
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
Assessment is realized by any assessment organization having a license according to RA legislation on the tariff determined by the latter. Tariffs vary from AMD 15.000 per car.
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 flat 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: 20/09/2018 15:25