Pledge of gold items (Suspended from 12.06.2024)

Loan purpose
Loan type
Credit line
Loan currency 
USD, EUR (Exchange rate fluctuations may have an impact on the redemption of foreign currency loans, the risk of which shall be borne by you).
Loan amount
Minimum AMD 10.000 equivalent foreign currency, Maximum AMD 50.000.000 equivalent foreign currency.,
 Annual interest rate, term and redemption frequency  
91-105 126-140 154-168 182-196 182-196 364-378 546-570 728-1095 1096-1820
11% 11.5% 12% 12.5% 12% 12.5% 13% 13.5% 14%
10% 10.5% 11% 11.5% 11% 11.5% 12% 12.5% 13%
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. Monthly- equally (annuitant), or Non-equally (differential). Monthly or non-equally (differential).
Percentage of Unused Part
Grant way
Fee based on gold standard
500-582 standard 1gr AMD 14,600
583-749 standard 1gr AMD 17,000
750-832 standard 1gr AMD 21,900
833-899 standard 1gr AMD 24,300
900-957 standard 1gr AMD 26,300
958-999 standard 1gr AMD 28,000 
White gold
500-582 standard 1gr AMD 11,700 
583-749 standard 1gr AMD 13,600
750-832 standard 1gr AMD 17,500
Gold items
Loan-related collateral value
- Up to 6 months maturity, with maximum 95% of the collateral value or maximum 100%, if:
Loan amount does not exceed AMD 3,000,000 equivalent foreign currency;
Loan interest is paid in advance, or:
There is at least one person's guarantee:
​The borrower / pledger submits an income verifying document

-Loans in the amount of of AMD 100.000 and more should are granted with the maturity of up to 60 months at a rate of maximum 95% of the collateral value, setting monthly equal / annuity / non-equity / differentiated / repayment schedule, or at maximum of 100%, if The amount of the loan does not exceed AMD 4,000,000;
There is at least one person's guarantee;
The borrower / pledger submits a document verifying his/her income:

​-Loans are granted at 120% of assessed value only to RA resident individuals,
If the loan amount exceeds the loan to pledge value ratio specified in point 1 –max. 120%, the borrower-pledger and /or individual guarantor (if any) shall submit an income verifying document, moreover the mentioned exceeding part shall not be more than the fourfold of ARMECONOMBANK OJSC cardholder-customer’s monthly salary (no more than AMD 2.000.000), and in case of customers who are not ARMECONOMBANK OJSC’s cardholders no more than threefold of the monthly income (no more than AMD 2.000.000).
Loans to "loyal customers" * are provided at maximum 120% of the assessed pledge value but the exceeding part shall be no more than AMD 500.000.

​- Loans un the amount of up to 150% of the assessed pledge value are granted only to RA resident individuals, moreover
If the loan amount exceeds the loan to pledge value ratio set forth in 1 paragraph- more than 120% and max. 150%, the loan is provided in case of availability of any of the below mentioned points:
The borrower/ pledger and/or individual guarantor (if any) shall be the Bank’s cardholder and within 60 days prior to the loan provision a salary should have been transferred to his/her card account. The exceeding part of loan to pledge value ratio set forth in 1 paragraph should not exceed the fourfold of the salary transferred to the Bank cardholder- applicant’s and/or guarantor’s card (no more than AMD 2.000.000), as well as the total amount of the credit line balance should not exceed the sevenfold of the salary transferred to the card of Bank’s cardholder and/or guarantor.
Borrower-pledger and the individual guarantor shall submit a document verifying his/her income, moreover the mentioned exceeding part shall not be more than the threefold of the monthly income of a borrower-pledger who is not ARMECONOMBANK OJSC’s cardholder (no more than AMD 2.000.000).
-The borrower has an acting loan/credit line at the Bank secured by real estate (consumer, mortgage, commercial).
Service fee based on loan amount 
0,7% of the loan amount  
Application study
Flat fee- 1% of loan amount, no less than AMD 2000
Loan arrangement is realized
ARMECONOMBANK OJSC branches. Except for Nairi MC, Russia-1 and Ararat branches.  
Decision  period
The loan is available on the spot
Against the amounts (loan, interests, other payments) not paid within the term(s) set forth by the agreement, a penalty in the amount of 0.13% (daily) of the outstanding amount is charged for each overdue day.
Pledge  return period (in case of full repayment of the loan)
Up to the next business day following the loan redemption   
Statement provision
Free of charge  

*‘’ Loyal customer’’ is the customer who has had 5 and more loans in the Bank and the aggregate of overdue days on all loans does not exceed 7 days and at least one of the mentioned loans has been provided within 24 months preceding the receipt of application.

ATTENTION.Early loan repayment is allowed for which no fines and penalties are charged.

ATTENTION.Credit lines under the pledge of golden items are provided with Visa plastic cards.

ATTENTION.Interests are calculated on the loan balance.

ATTENTION.Due to various circumstances, additional documents and information may be required.

ATTENTION.The interest accrued against the used loan is subject to full repayment up to the 90th day from the date of settlement.

ATTENTION.The consumer / borrower / is entitled to unilaterally terminate the credit agreement without any argumentation within 7 business days after its conclusion, unless a longer term is set by the credit agreement (thinking time). In this case, the consumer is obliged to pay interest to the creditor for the use of the credit amount, which is calculated in accordance with the actual annual interest rate envisaged by the credit agreement. No other compensation may be claimed from the consumer in connection with the termination of the credit agreement.

ATTENTION.The consumer has the right to repay the obligations under the credit agreement ahead of time, whether such right is envisaged by the credit agreement or not

ATTENTION.Exchange rate fluctuations may have an impact on repayment of the loan.

ATTENTION. 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.

ATTENTION. 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)).

ATTENTION. 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.

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

ATTENTION. 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( )

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

ATTENTION. 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.

ATTENTION. 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
Positive decision grounds
Positive loan history (if any)
Reliability of the submitted documents
Collateral acceptable by the Bank
Negative decision grounds
Costumer’s negative credit history
Inadequacy of the pledge to the required standards
Source of stable and sufficient income.
General Information
Documents to be presented by individuals
Punct Passport copies
Punct Document containing public services number
Punct If necessary, other documents upon the Bank's claim

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Updated: 01/07/2024 14:56