Loan type
Mortgage loan
Loan purpose
 Residential real estate acquisition
In case of loans provided in AMD within the framework of “National Mortgage Company” RCO CJSC
Loan currency 
Loan amount
Loan currency Loan/pledge ratio Annual interest rate
In the amount from AMD 1.000.000 to 35.000.000 Up to 70% included 13%
70-90% inclusive, except for the rural settlements of RA, the loan to pledge value of which is defined maximum 70% 13.5%
In the amount of AMD 35.000.001- 60.000.000 Up to 70% included 15%
70-90% except for rural settlements of RA, whose loan/pledge ratio is maximum 70% 15.5%
Energy-efficient loans in the amount of AMD 3.000.001-45.000.000 3  Up to 70% included 12.5%
70-90% included 13%
Annual actual interest rate
 AMD 15.46-19.76% 
Loan term /month/
In case of a fixed interest rate 120-240
Fixed adjustable interest rate 120-240
Frequency of redemptions 
Loan redemption procedure
 Monthly-equally(annuitant) or unequally (differentiated)  
 Real estate to be acquired (other residential real estate if necessary as well)
Advance prepayment
In case of lending with pragram resources (AMD) -30%

a)if except to residential real estate collateral other residential real estate is pledged as well except for the pledge of the borrower, moreover the loan amount can not exceed 70% of the total market value of pledged real estates
b) there is an unpaid prepaid insurance in the amount exceeding 70% of loan/pledge ratio
Loan to pledge value ratio
• The maximum amount can be at least 70% of the market and acquisition values of the residential real estate to be acquired
• In case of mortgage loans in AMD the maximum amount of the loan can be minimum in the amount of 90% of the market and acquisition values of residential real estate, if except for the pledge of residential house or apartment being means of security of the loan, other residential real estate is pledged as well, moreover in case of pledging the real estate s and other residential real estates the loan amount can not exceed 70% of the total market value of pledged real estates or advance payment insurance is available for an amount exceeding 70%. 
Way of provision
Loan application study fee
 AMD 5000 which is subject to proportional reduction only in case of loan provision and early redemption of theloan .
Pre-approval loan application study fee
AMD 10,000 which is subject to proportional reduction only in case of loan provision and early redemption of the loan. 
Loan arrangement is realized
“ARMECONOMBANK” OJSC head office and branches, with the exception of Silachi, Nairi MC, Rossia-1 and Araratyan branch

The loan is presented to the decision of the competent body if the applicant credited minimum 80% of the difference ofamount of assessed market value of the real estate (if the acquisition value is less than the acquisition value) to be acquand the loan amount to be provided to the account opened with ARMECONOMBANK OJSC.
The credited amount is kept in the account until the competent body makes a decision on the loan provision or rejection 
Decision  and provision period
Up to 20 business day (in case of  mortgage the loan is provided within 5 business days following the receipt of collateral registration right) 
• Real estate security is made by the customer at the insurance company licensed by RA CB, according to the tariff determined by the latter. The tariffs may vary from 0.16-0.18% of the loan balance. 
• Insurance for accidents of the Borrower and Co-borrowers is realized by the customer (except the co-borrowers having no income) in the insurance company licensed by RA CB, according to the tariff determined by the latter.  The tariffs vary from 0.16-0.18% of the loan balance.
The annual insurance premium is calculated at the rate of 2% of the insurance amount ( this tariff is valid if insuracertificates on acquired real estate and accidents of the borrower/co-borrowers is signed or renewed by the customer w‘Sil Insurance’ ICJSC, otherwise the interest rate is set in the amount of 2.7%).
Is not subject to reduction in case of early repayment of the loan. 
Real estate apprasial
 Assessment is realized by any assessment organization licensed by RA legislation and cooperating with the Bank, at thtariff determined by the latter (AMD 20.000).
Is not subject to reduction in case of early repayment of the loan 
Expenses related to the collateral arrangement
  All the expenses related to the arrangement of the collateral (notarization, registration of the real estate in subdivisions of Cadastral territory) are made by the borrower
• Notary fee - AMD 15.000-25.000
• Unified reference (on restrictions against real estate) - AMD 10.000 
• Certificate on the registration of right to real estate- AMD 27.000-75.000 
  Is not subject to reduction in case of early repayment of the loan.
Acquired real estate
 Residential real estate located in RA territory  
Against the amounts (loan, interest, and other fees) not paid within the term/s/ set forth by the Agreement a penalty at 0.13 percent of the overdue amount is defined for each overdue day (daily). 
Encashment fee
 In case of encashment of the loan amount, encashment fee is charged per the tariffs set by the Bank* 
Provision of extract
Free of charge 
ATTENTION.The given tariffs are valid in case of loans for the purchase of residential real estate from the secondary market. 
ATTENTION.Energy efficiency of loans is determined by: • Filling in the pre-estimate(the tool for evaluating energy efficiency) posted on the website of National Mortgage Company RCO CJSC ( in case of renovation and construction loans, 
• From the list of available energy- efficient buildings available in the website of National Mortgage Company RCO CJSC ( for loans for the purchase of real estate from multi-apartment buildings 
*To get acquainted with the Bank’s tariffs, visit the link: 
ATTENTION. Within the framework of the given loan type in case of a refusal of refinancing or termination of refinancing when providing refinanced mortgage loans, the interest rate of the loan is defined 14% annually, except for the loans from the state support program for energy-efficient renovation of apartments and individual residential houses in the territory of RA, in which case the interest rate does not change. 
ATTENTION. A Co-borrower can be one or several of the members of the Borrower’s family. 
ATTENTION. Early loan repayment is allowed for which no penalties and fees are charged. Upon the Customer’s choice the Bank: 
• Reduces the size of monthly payable amount in proportion to early paid amount leaving the loan repayment term unchanged, or 
• Decreases the loan repayment period leaving the size of payable amounts unchanged 
ATTENTION. In case of non-fulfillment or improper fulfillment of the obligations set forth by the Mortgage agreement, the borrower may lose his/her right of ownership over the property. 
ATTENTION. The mortgage agreement shall be verified by notary. 
ATTENTION. The total number of the overdue days for all the loans of the borrower and co-borrower(s) /acting and repaid/ should not exceed 30 calendar days within the last 12 months. 
ATTENTION. Interest is calculated on the loan balance 
ATTENTION.  After reaching a positive decision on the loan provision, before the conclusion of the mortgage agreement, the Bank, based on the terms and conditions of the loan offered by the Bank and the  documents submitted by the consumer, provides the consumer with an Individual leaflet, which defines essential terms of the mortgage loan, tariffs, the rights and obligations of the consumer, and the negative consequences in case of non-fulfillment of the obligations. 
ATENTION. “Your Financial Informant” is an electronic system which compares the search of services offered to individuals and facilitates the selection of the most effective option for you - 
ATTENTION.  Before signing the loan agreement (7 days prior) the Bank provides the proposal and project on the signing of the loan agreement to the borrower. The Proposal on the loan agreement conclusion is effective 7 working days (thinking time) unless otherwise envisaged by the proposal. 
ATTENTION. The floating nominal interest rate can be changed no more than twice a year. 

To get acquainted with the terms, conditions and tariffs of the provision of statements, their copies, references and other information during the validity period of the agreement, please visit here.

 On the purpose of due diligence of the customer envisaged by RA law on “On combating money laundering and terrorism financing”, the Bank may request additional documents or other information from the consumer based on <<Know your customer>> principle, as well as ask the consumer additional questions during oral communication.

In compliance with the agreement signed with USA, to find out whether you are a US tax payer, the bank may collect additional information about the agreements, contracts, cooperation, membership signed by financial institutions, which may have a direct impact on the consumers (e.g. Foreign Account Tax Compliance Act (FATCA)).

 In case of consumer loans exceeding AMD 15.000.000 if a preterm repayment is made in the amount exceeding 20% of the Principle balance as of the first day of each month (which does not include repayment of the part of the loan envisaged by the repayment schedule of the given month) without the Bank's written consent, a penalty in the amount of 5% of the early repaid amount exceeding 20% in the amount of that amount.

 When applying for a loan, the Bank provides you with an individual leaflet on essential terms of consumer loan, which defines individual terms of the loan to be provided to you.

As an additional means of loan security, the Bank may also require the guarantees of other person/persons.

In case of non-fulfillment or improper fulfillment of your obligations the lender sends your data to the credit bureau where your credit history is being formed up to 3 business days. You are entitled with the right to get your credit history from the credit bureau free of charge once a year( )

Bad credit history may prevent you from receiving other loans in the future

Loan interests are calculated based on the nominal interest rate and the actual interest rate shows how much the loan will cost in case of fulfillment of loan obligations in defined terms and sizes. The actual annual interest rate calculation procedure can be found on the following link:[br]
The payments to be paid by the consumer are not included in the calculation of the actual interest rate irrespective of the fact that payments against the works and services have been made with or without a credit.

The nominal interest rate may be changed by the bank. The information on the changes of the nominal interest rate may be found on 

1.You are eligible to communicate with financial institution by the means of communication you prefer – through postal services or electronically. The receipt of information electronically is the most convenient. It is available round-the-clock (24/7), is free of the risk of loss of paper information and ensures the confidentiality.

2. The possible negative consequences, penalties/fines for the customer in case of non-fulfillment of obligations
• 0, 13%a of the unpaid amount for each overdue day
• 0, 13%a of the unpaid interest amount for each overdue day

3. If you have outstanding liabilities against the creditor, while fulfilling your obligation the loan repayment arrangements are made in the following sequence:
• Court costs (if any)
• Collateral sale costs (if any)
• Accrued penalty
• Accrued interest
• Insurance costs /if any/
• Principal amount of the loan

4. Property (house, car, etc.) pledged by you may be confiscated by law in case you fail to perform your loan obligations on time.

5. In case of non- fulfillment of loan liabilities, the loan liabilities are covered by the collateral, and should the collateral be not enough to repay the borrower’s liabilities it is possible to repay the liabilities on the account of another property of the borrower and/or guarantor(s)/co-borrower/s/.

6. Loan interests are calculated towards the loan balance.
For example if the customer is provided with a loan in the amount of AMD 1.200.000 with an annual interests rate of 24% ,with 12 months period (while calculating monthly accrued interests as a number of days 30 days period has been taken as a basis).
Months Loan balance Repayment from loan Repayment from interest
1 1.200.000 100.000 23.671
2 1.100.000 100.000 21.699
3 1.000.000 100.000 19.726
4 900.000 100.000 17.753
5 800.000 100.000 15.781
6 700.000 100.000 13.808
7 600.000 100.000 11.836
8 500.000 100.000 9.863
9 400.000 100.000 7.890
10 300.000 100.000 5.918
11 200.000 100.000 3.945
12 100.000 100.000 1.973


8. The Bank applies no limits to loan amount; it will be conditioned by and related to:
• Purpose of loan
• Customer's creditworthiness
• Collateral offered by the customer
• Loan risk assessment
• Requirements of prudential standards provided by the Central Bank of Armenia

9. “ARMECONOMBANK” OJSC can provide services to the customer under terms which may differ from those set forth in the Bank's overall policy taking into account any of the following conditions of the below-mentioned list:
• Customer account balance
• Customer account turnover
• Strategic importance of the customer for the Bank
• Number of employees in customer organization
• Total number of cards issued for customer organization
• Income gained from customer
• Volume of transfers
• Size of deposits with the Bank
• Significant borrower
• Social considerations (medical organizations, educational institutions, etc.)
• Being the head of such organization
• Other objective conditions

10. The borrower pays interest to the bank for using the loan amount, the interest of which is calculated on the loan balance for the calendar days of actual use of the loan based on a 365-day year. For loans under specific projects the interest calculation may be based on a 360-day year.
• Loans are repaid within the dates indicated in the loan agreement.
• The periodicity of interest payments is determined in accordance with the loan agreement or repayment schedule.
• If the repayment date for principal or interest rates falls on day off, the payment is made on the following working day without calculation of penalty for the days off.

11. Repayment of Loans
• Loans are repaid within the dates indicated in Loan Agreement
• Loans are repaid in the currency in which they were given • In case of loans in foreign currency, exchange rate fluctuations may affect loan payments
• In case of exchange rate fluctuations, the exchange rate risk related to loans will be borne by the borrower

12. The Bank may terminate the Loan Agreement and request repayment of the loan amount, if
• The borrower has failed to make any payment required under Loan Agreement
• The borrower has breached any confirmation made by the him/her and fails to correct such breach within 30 days following the occurrence thereof
• Any presentation, warranty, document, or information provided by the borrower is materially incomplete
• By reasonable opinion of the Bank, an essential negative change has occurred in financial state of the borrower, including court orders, outflow of assets, deterioration or termination of business, company re-organization.
• The borrower undergoes dissolution, or is subject to ongoing or pending bankruptcy proceedings
• The borrower interferes with monitoring
• In case of other objective reasons

13. The Bank may accept as collateral:
• Real estate: land, houses, buildings, apartments
• Fixed assets
• Circulating assets
• Motor vehicles
• Precious metals
• Treasury bills, foreign currency, stocks
• Property to be purchased and ownership right
• Cash

14. The appraisal value of movable and immovable real estate is based on the market value indicated in appraisal statement.

15. The loan or a part thereof, as well as the accrued interest is deemed overdue if not repaid within periods specified in the Agreement.
• In case of non-repayment of the amounts (the loan, interests other payments) within the term(s) set by the Agreement, Borrower shall pay a penalty in the amount of 0.13% (zero point thirteen percent) of the overdue amount for each day of default. The total amount of the unpaid interests calculated in accordance with this paragraph shall not exceed the current debt balance.
• In case of non-repayment of the loan or a part thereof within the term(s) set by the Agreement, the Borrower is obliged to pay interests to the Bank in the amount of double of the settlement rates set by the Central Bank of Armenia. The  total amount of the unpaid interests calculated in accordance with this paragraph shall not exceed the current debt balance.
• Starting from the 91st day of overdue days, 21,5% annual interest rate is applied to the balance of non-overdue loan (term loan). After the full repayment of outstanding amounts, penalties and interests accrued, the interest rate set by the Loan Agreement is recovered.

16. The Bank shall not accept the following items as collateral:
• Non-circulating assets
• Separate parts of indivisible property
• Leasing right
• Property owned by urban, rural, and local communities
• Property with ownership right

17.To satisfy the claim of CREDITOR-PLEDGEE, the pledged property may be confiscated in extrajudicial manner pursuant to paragraphs 2-4 of these Rules in case of non-fulfillment or improper fulfillment of the obligations by PLEDGER under Collateral Agreement and by BORROWER under Loan Agreement.
  2. The property confiscated in extrajudicial manner may be sold if under the Pledge Agreement PLEDGER has authorized CREDITOR-PLEDGEE to sell the pledged property upon emergence of the grounds for confiscation as stipulated in paragraph 1 of these Rules without seeking court intervention and so fully recover the claim covered by the collateral and has also agreed to transfer without seeking court intervention the ownership of the pledged property against the respective part of main liability to CREDITOR-PLEDGEE or any person designated by the latter in the manner provided by RA legislation.
3.Upon emergence of the grounds for confiscation as stipulated in paragraph 1 of these Rules, CREDITOR-PLEDGEE shall duly notify PLEDGER in writing of confiscation of the pledged property (confiscation notice). In two months following the date of delivery of confiscation notice to PLEDGER, CREDITOR-PLEDGEE shall have the right, pursuant to Article 195 of RA Civil Code, to sell the pledged property directly or through public auction pursuant to RA Law on Public Bidding.
4. PLEDGER undertakes to transfer the pledged property to CREDITOR-PLEDGEE within two months following the date of delivery of confiscation notice to PLEDGER.
 5. The duration of process of sale of pledged property may not become a ground for cessation of growth of BORROWER's liabilities to CREDITOR-PLEDGEE. Moreover, the proceeds from sale of collateral shall be utilized to fully cover CREDITOR-PLEDGEE's claims to BORROWER existing as of the date of sale of collateral and, should the claim not be covered on the account of the collateral, the outstanding amounts may be confiscated from other property of BORROWER.
    6. Confiscation of the property pledged to cover CREDITOR-PLEDGEE's claims by court order may be executed in the manner provided by RA legislation.

18. You can get acquainted with the tariffs on any service by visiting the following link: :

19. You can get acquainted with the terms and conditions of remote banking services by visiting the following link:
Requirements to Borrower
Resident individual over 18 years
Registered and living in the Republic of Armenia
Has a constant income source acceptable by the Bank
The age of the borrower cannot exceed 65 years.
Positive decision grounds
Positive loan history (if any),
Reliability of the submitted documents,
Source of stable and sufficient income.
Availability of a pledge acceptable by the Bank
Negative decision grounds
Negative assessment of customers' financial state
Non-credibility of the presented documents
Customer’s negative loan history
Other reasons that will hamper the loan repayments according to the Bank assessment.
General Information
Documents to be presented by individuals
PunctCopies of passports and social security cards /family members
PunctCopy of the marriage certificate (if any)
PunctForm 3 of the apartment to be purchased (from the Passport Division)
PunctReference from the workplace, including net salary, income tax, and social security payments paid during the previous 12 months (regarding payment amounts, if necessary)
PunctIndividual account statement from the tax authority (if necessary)
PunctCopy of the ownership certificate for the apartment to be purchased, along with a copy of the document that serves as the basis for issuing the certificate (if necessary)
PunctStatement confirming that the apartment is not under foreclosure (to be submitted after loan approval)
PunctCopies of the vendor's/owners' passports. If married, also include a copy of the marriage certificate and the husband's/wife's passport

You can buy real estate from the following companies.






83 Tigran Petrosyan Str., Yerevan


Jermuk Group CJSC

18/4 Arshakunyants Ave.,  Yerevan



51 block, Bagrevand district, Nor-Nork, Yerevan



51/11 Sevak Street, Kanaker-Zeytun, Yerevan



1/25 Davit Bek Street, Yerevan


Kanach Tagh LLC

61/1 and 61/6 Tsarav Aghbyur Street, Avan, Yerevan


Artadratekhnologiakan komplektavorum CJSC

23/3 Garegin Nzhdeh street, Yerevan



Yeghbairyutyan 1, lane 2, Shengavit, , Yerevan



7/9 Lvovyan Street, Nor Nork, Yerevan



M. Frunze Street 8/9, Shengavit, Yerevan,



72 Marshal Babajanyan Street, Avan, Yerevan



27/7 Leningradyan Street, Malatia-Sebastia, Yerevan


Malkhasyants 12 OJSC

6/1 Malkhasyants Street, Yerevan


Grig Development LLC

29/17  Leningradyan Street, Malatia-Sebastia, Yerevan



37/46 Moldovakan Street, Nor Nork, Yerevan



51, Arabkir 29th street, Yerevan



18 A. Sargsyan Street, Ajapnyak, Yerevan



19/5 plot  Nork district, Nork Marash, Yerevan



P. Duryan district 1, street 10, Arinj community, Kotayk region


Vardanush Nushevani Poghosyan

Charents Street, 1st Lane. 49 residential houses, Nork Marash, Yerevan


Lorida Group LLC ՍՊԸ

44/13 Ajapnyak district, Yerevan


Arman Artak Eghbayrner LLC

46/2 Tumanyan district, Avan, Yerevan city


Omega Plyus LLC

108/2 Lvovyan street, Nor Nork administrative district, Yerevan


MGS Development LLC

2/6 Kurghinyan, str. Malatia Sebastia administrative district, Yerevan



11/12 Davit Anhaght Street, Kanaker-Zeytun Administrative District, Yerevan



No. 13 Shahumyan Square, Kapan Community, Kapan City, Syunik Region



39/37 Moldovakan Street, Nor-Nork Administrative District, Yerevan


Modern Tower LLC

19 Arabkir street, plot 21, Yerevan


A.R. Shin LLC

2/18 plot , G-1 district, Ajapnyak administrative district



10/15, Arghtyun Street, Arabkir, Yerevan

Updated: 04/06/2024 16:54