With Fund Collateration

Loan purpose
Consumer loan
Loan amount
Up to 90% of the temporary deposit and bank account amount, if the loan line period does not exceed 12 months.
Up to 85% of the temporary deposit and bank account amount, if the loan line period does not exceed 18 months.
Loan currency
AMD
USD
Euro
Annual interest rate
The pledged cash facilities and provided loan are in AMD + 10% to the interest rate paid for the pledged cash facilities
The pledged cash facilities and provided loan are in foreign currency (irrespective from the foreign currency type) + 8% to the interest rate paid for the pledged cash facilities
The provided deposit is in foreign currency, and the provided loan is in AMD According to the bank tariffs within the limits of the loan period in case of including deposit in AMD (bank account) 10% added to the interest rate paid for the deposit (irrespective from the interest rate paid for the pledged deposit)
Loan term
Maximum 18 months
Redemption frequency
Monthly
Commission fee
Fee for the loan account opening, service and/or adding- according to the Bank's Tariffs.
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,
Who has a term deposit in the Bank and bank account and payment plastic card.
Loan redemption procedure
Monthly.
Equally (annuitant), or
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.

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
Up to 90% of the temporary deposit and bank account amount, if the loan line period does not exceed 12 months.
Up to 85% of the temporary deposit and bank account amount, if the loan line period does not exceed 18 months.
Loan currency
AMD
USD
Euro
Annual interest rate
The pledged cash facilities and provided loan are in AMD + 10% to the interest rate paid for the pledged cash facilities
The pledged cash facilities and provided loan are in foreign currency (irrespective from the foreign currency type) + 8% to the interest rate paid for the pledged cash facilities
The provided deposit is in foreign currency, and the provided loan is in AMD According to the bank tariffs within the limits of the loan period in case of including deposit in AMD (bank account) 10% added to the interest rate paid for the deposit (irrespective from the interest rate paid for the pledged deposit)
Loan term
Maximum 18 months
Redemption frequency
Monthly
Commission fee
Fee for the loan account opening, service and/or adding- according to the Bank's Tariffs.
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,
Who has a term deposit in the Bank and bank account and payment plastic card.
Loan redemption procedure
Monthly.
Equally (annuitant), or
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.

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 Tuesday, 06 September 2016 13:18