Loan for Fast Transfer Users

Loan purpose
Consumer loan
Loan amount
At least 4 times has received funds through Bank international paying systems during 5 months before submitting the 100,000 AMD (or other equivalent foreign currency) Application, the sum of which exceeds 1,500 USD (or other equivalent foreign currency).

At least 5 times has received funds through Bank international paying systems during 9 months before submitting the 100,000 AMD (or other equivalent foreign currency) Application, the sum of which exceeds 3,500 USD (or other equivalent foreign currency).

At least 12 times has received funds through Bank international paying systems during 8 months before submitting the 100,000 AMD (or other equivalent foreign currency) Application, the sum of which exceeds 5,000 USD (or other equivalent foreign currency).
Loan currency
AMD
USD
Euro
Annual interest rate
24% for AMD 20% other currency
Loan term
Maximum 18 months
Redemption frequency
Monthly
Commission fee
Flat fee.
1% of loan amount (minimum 5,000 AMD).
Loan arrangement is realized
“ARMECONOMBANK” OJSC head office and branches
Decision Period
Up to 10 working days
Attention! In case of Visa classic PLUS types of plastic cards, you will be given 30-day grace period, and annual rate for will change to AMD 22% for other currencies 17%.
Borrower requirements
Resident individual over 18 years,
Receiving money transfers via the international payment systems of the Bank and a payment plastic card holder.
Loan redemption procedure
Monthly.
Equally (annuitant), or
Non-equally (differential,
At the end of tenor.
Negative decision grounds
Negative assessment of the customer’s financial condition.
Non-credibility of the presented documents.
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
Attention! The accrued interest for the used loan is fully subject to payment starting from the calculation date till the 90th day.
Attention! Early loan repayment is allowed for which no fines and penalties are charged.
Documents presented by individuals

1. Passport.
2. 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.
3. If necessary, other documents upon the Bank's claim.

Attention! As an additional security means the Bank may also require the guaranty of one or more persons.

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! 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.
Attention! Changes in currency exchange rates may have an impact on loan repayments.
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 loan
Loan amount
At least 4 times has received funds through Bank international paying systems during 5 months before submitting the 100,000 AMD (or other equivalent foreign currency) Application, the sum of which exceeds 1,500 USD (or other equivalent foreign currency).

At least 5 times has received funds through Bank international paying systems during 9 months before submitting the 100,000 AMD (or other equivalent foreign currency) Application, the sum of which exceeds 3,500 USD (or other equivalent foreign currency).

At least 12 times has received funds through Bank international paying systems during 8 months before submitting the 100,000 AMD (or other equivalent foreign currency) Application, the sum of which exceeds 5,000 USD (or other equivalent foreign currency).
Loan currency
AMD
USD
Euro
Annual interest rate
24% for AMD 20% other currency
Loan term
Maximum 18 months
Redemption frequency
Monthly
Commission fee
Flat fee.
1% of loan amount (minimum 5,000 AMD).
Loan arrangement is realized
“ARMECONOMBANK” OJSC head office and branches
Decision Period
Up to 10 working days
Attention! In case of Visa classic PLUS types of plastic cards, you will be given 30-day grace period, and annual rate for will change to AMD 22% for other currencies 17%.
Borrower requirements
Resident individual over 18 years,
Receiving money transfers via the international payment systems of the Bank and a payment plastic card holder.
Loan redemption procedure
Monthly.
Equally (annuitant), or
Non-equally (differential,
At the end of tenor.
Negative decision grounds
Negative assessment of the customer’s financial condition.
Non-credibility of the presented documents.
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
Attention! The accrued interest for the used loan is fully subject to payment starting from the calculation date till the 90th day.
Attention! Early loan repayment is allowed for which no fines and penalties are charged.
Documents presented by individuals

1. Passport.
2. 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.
3. If necessary, other documents upon the Bank's claim.

Attention! As an additional security means the Bank may also require the guaranty of one or more persons.

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! 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.
Attention! Changes in currency exchange rates may have an impact on loan repayments.
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 Wednesday, 15 July 2015 11:00