Credit line With Gold Items' Collateral

Loan purpose
Consumer purpose
Loan amount
In the amount of up to 90% pledged gold items value, in case of maximum 3 months redemption period.
In the amount of up to 95% pledged gold items value, in case of maximum 6 months redemption period if interests are fully paid in advance.
Loans against pledge of gold items may exceed the appraised pledge value by max. 100%՝
For loans exceeding the appraised pledge value, the Borrower must be the Bank’s cardholder with salary credited to his/her card account within the preceding 60 days max.
For loans exceeding the appraised pledge value by up to 120%, a guarantee from individual(s) is required, or
For loans exceeding the appraised pledge value by 120-150%, a guarantee from individual(s) is required and at least one of the guarantors must be the Bank’s cardholder with salary credited to his/her card account within the preceding 60 days max.
The part (up to 50%) exceeding 100% of pledge value may not exceed the threefold of the salary credited to cardholder applicant’s card and the aggregate balance of the credit line may not exceed the sevenfold of the salary credited to cardholder applicant’s card
The part (up to 20%) exceeding 100% of pledge value may not exceed the threefold of applicant’s salary
The part (up to 20-50%) exceeding 100% of pledge value may not exceed the threefold of the salary credited to cardholder guarantor’s card and the aggregate balance of the part (up to 50%) exceeding 100% of pledge value and the credit line on the card may not exceed the sevenfold of the salary credited to cardholder guarantor’s card
Loan currency
USD
Annual interest rate
18%
Redemption frequency
The loan amount can be paid flat fee at the end of the deadline, and the calculated interests can be paid monthly or in advance.
Grant way
Non Cash
One-time fee based on the loan amount
Up to 90,000 AMD 900 AMD
90,001-180.000 AMD 1,350 AMD
180,001-360,000 AMD 2,200 AMD
360,001 AMD and more 0.65 %
Fee based on gold standard
500-578 standard 1gr 9,800 AMD
579-745 standard 1gr 11,500 AMD
746-830 standard 1gr 14,800 AMD
831-895 standard 1gr. 16,400 AMD
896-950 standard 1gr 17,700 AMD
951-999 standard 1gr. 18,900 AMD

White gold
500-578 standard 1gr. 7,800 AMD
579-745 standard 1gr. 9,200 AMD
746-830 standard 1gr. 11,700 AMD
Account opening fee
900 AMD
Loan arrangement is realized
“ARMECONOMBANK” OJSC branches
Decision Period
Up to 1 working day
Attention! Persons who don't have USD plastic card can get MasterCard Standart with 1,000 yearly service and fee prompt card provision.
Borrower requirements
Resident individual over 18 years
Negative decision grounds
Costumer’s negative credit history.
Inadequacy of the loan to the required criteria.
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
Attention! In case of not performing the loan liabilities and repaying the liabilities in the account of the collateral, in case of the collateral being not enough to repay the Borrower’s loan liabilities, it is possible to make liabilities repayment on the account of another property of the Borrower and/or Guarantor(s).
Documents presented by individuals

1. Passport,
Document containing public services number:
• Social card, or
• RA citizen identification card or
• Foreign citizen residence card (if any) containing public services number or
• Documents certifying the refugee identification of RA permanent resident, individual having no citizenship containing public services number or
• Statement containing public services number.

Interests are calculated on the loan balance. Loan interests are calculated based on the nominal interest rate. The actual interest rate shows how much the loan interests and other payments will cost in case of performance in defined terms and sizes.

Actual annual interest rate calculation procedure and sample.
Actual annual interest rate calculation formula.

Attention! Changes in currency exchange rates may have an impact on loan repayments.
Attention! No change of nominal interest rate throughout the term of loan agreement.
Attention! In case of failure to repay the interest and the principal on time, the mortgaged property may be confiscated, and the information about the Borrower and/or the Guarantor/s will be recorded in the loan register.
Loan amount
Interest rate calculation procedure
Loan agreement termination
Pledge subject for the Bank
Overdue loan and overdue interest
Documents required for loan grant
Negative conclusion grounds on loan case are
Security
Pledged estate sales rules
Loan purpose
Consumer purpose
Loan amount
In the amount of up to 90% pledged gold items value, in case of maximum 3 months redemption period.
In the amount of up to 95% pledged gold items value, in case of maximum 6 months redemption period if interests are fully paid in advance.
Loans against pledge of gold items may exceed the appraised pledge value by max. 100%՝
For loans exceeding the appraised pledge value, the Borrower must be the Bank’s cardholder with salary credited to his/her card account within the preceding 60 days max.
For loans exceeding the appraised pledge value by up to 120%, a guarantee from individual(s) is required, or
For loans exceeding the appraised pledge value by 120-150%, a guarantee from individual(s) is required and at least one of the guarantors must be the Bank’s cardholder with salary credited to his/her card account within the preceding 60 days max.
The part (up to 50%) exceeding 100% of pledge value may not exceed the threefold of the salary credited to cardholder applicant’s card and the aggregate balance of the credit line may not exceed the sevenfold of the salary credited to cardholder applicant’s card
The part (up to 20%) exceeding 100% of pledge value may not exceed the threefold of applicant’s salary
The part (up to 20-50%) exceeding 100% of pledge value may not exceed the threefold of the salary credited to cardholder guarantor’s card and the aggregate balance of the part (up to 50%) exceeding 100% of pledge value and the credit line on the card may not exceed the sevenfold of the salary credited to cardholder guarantor’s card
Loan currency
USD
Annual interest rate
18%
Redemption frequency
The loan amount can be paid flat fee at the end of the deadline, and the calculated interests can be paid monthly or in advance.
Grant way
Non Cash
One-time fee based on the loan amount
Up to 90,000 AMD 900 AMD
90,001-180.000 AMD 1,350 AMD
180,001-360,000 AMD 2,200 AMD
360,001 AMD and more 0.65 %
Fee based on gold standard
500-578 standard 1gr 9,800 AMD
579-745 standard 1gr 11,500 AMD
746-830 standard 1gr 14,800 AMD
831-895 standard 1gr. 16,400 AMD
896-950 standard 1gr 17,700 AMD
951-999 standard 1gr. 18,900 AMD

White gold
500-578 standard 1gr. 7,800 AMD
579-745 standard 1gr. 9,200 AMD
746-830 standard 1gr. 11,700 AMD
Account opening fee
900 AMD
Loan arrangement is realized
“ARMECONOMBANK” OJSC branches
Decision Period
Up to 1 working day
Attention! Persons who don't have USD plastic card can get MasterCard Standart with 1,000 yearly service and fee prompt card provision.
Borrower requirements
Resident individual over 18 years
Negative decision grounds
Costumer’s negative credit history.
Inadequacy of the loan to the required criteria.
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
Attention! In case of not performing the loan liabilities and repaying the liabilities in the account of the collateral, in case of the collateral being not enough to repay the Borrower’s loan liabilities, it is possible to make liabilities repayment on the account of another property of the Borrower and/or Guarantor(s).
Documents presented by individuals

1. Passport,
Document containing public services number:
• Social card, or
• RA citizen identification card or
• Foreign citizen residence card (if any) containing public services number or
• Documents certifying the refugee identification of RA permanent resident, individual having no citizenship containing public services number or
• Statement containing public services number.

Interests are calculated on the loan balance. Loan interests are calculated based on the nominal interest rate. The actual interest rate shows how much the loan interests and other payments will cost in case of performance in defined terms and sizes.

Actual annual interest rate calculation procedure and sample.
Actual annual interest rate calculation formula.

Attention! Changes in currency exchange rates may have an impact on loan repayments.
Attention! No change of nominal interest rate throughout the term of loan agreement.
Attention! In case of failure to repay the interest and the principal on time, the mortgaged property may be confiscated, and the information about the Borrower and/or the Guarantor/s will be recorded in the loan register.
Loan amount
Interest rate calculation procedure
Loan agreement termination
Pledge subject for the Bank
Overdue loan and overdue interest
Documents required for loan grant
Negative conclusion grounds on loan case are
Security
Pledged estate sales rules
Last modified on Tuesday, 06 September 2016 13:31