Hot Line +37410 511 211

Converse Leasing


Converse Leasing

"Converse Bank" CJSC (hereinafter - the Bank) provides leasing financing (financial leasing) of movable property, equipment and/or their constituent parts to RA resident legal entities and individual entrepreneurs.

Terms and Conditions

Amount of leasing

AMD 2,000,000 – 1,000,000,000 or equivalent foreign currency


 minimum 10% of the purchase price of the object of lease



-       maximum 60 months in case of advance payment up to 30%

-       maximum 84 months in case of advance payment of more than 30%,

6 - 36 months

37 - 60 months

61 - 84 months

Annual interest rates



from 13.5%

from 14.5%

from 14.75%


14.40 - 24.00%

15.52 - 18.73%

15.80 - 18.28%



from 8.5%

from 8.75%

from 9.0%


8.88 - 20.41%

9.14 - 12.09%

9.40 - 11.67%



from 6.5%

from 7.0%

from 7.25%


6.75 - 17.98%

7.26 - 10.14%

7.52 - 9.73%

Order of leasing and interest repayment

Annuity - equal monthly repayment, with principal and interest accrued in variable portions.


Application review fee


One-time fee for disbursement

0.5% - 1%, minimum – AMD 50,000, maximum – AMD 1,000,000

Final payment for lease


Fines and penalties
Following fines and penalties may be applied by the Bank:

1. In case of overdue lease and / or overdue interest, 0.13% of overdue amount for each day of delay.
Repayments of overdue liabilities are repaid in the following order: fine/penalty, interest, principal amount.
2. In case of violation of any of the conditions for leasing, increase the effective interest rate of the loan by 4 percentage points.
3. Penalties and fines are not applied in case of early repayment of the lease, only the principal amount and the interest accrued by the moment of early termination are paid.


The property to be purchased shall be owned by the Bank until full repayment of the lease.
If necessary, a pledge and/or guarantee of other property and/or annual insurance of the leasing object may also be required.

Requirements to the Guarantor

  • must have a stable proven income or ownership/co-ownership for immovable and/or movable property subject to state registration,
  • at the time of disbursement of leasing amount may have maximum of 3 current guarantees against liabilities of other persons whose liabilities are not overdue,
  • should not have problem/non-performing loans/liabilities at the time of leasing disbursement, nor overdue liabilities of 30 days or more during the last 12 months;

Explanatory notes on the guarantee

If the lessee fails to fulfill his/her liabilities, the guarantor will pay on behalf of the lessee, the guarantor's credit history will deteriorate as well, and the guarantor may be deprived of his/her property.

Converse Bank:

  • Provides the guarantor with an example of leasing and guarantee agreements and a repayment schedule,
  • The communication will be carried out in the manner chosen by the guarantor,
  • Notifies at least 7 days in advance of the change in the terms of the agreement,
  • Sends reminder of existing obligation 1 day in advance,
  • In case of delayed repayment of the lease, notifies the guarantor not later than within the following day.

The guarantor has the right to:

  • Request the Bank for information on the size of the leasing balance, at any time,
  • Get a refund of leasing-related payments made, as well as of other losses incurred on behalf of the lessee.

Example of calculating interest rates

In case of leasing with the following terms and conditions:

Leasing amount

AMD 5,000,000

Nominal interest rate


Repayment period/maturity

5 years

Repayment type


Interest composition

Monthly repayment (principal amount+ interest)


Total interest


Total of repayments


Interest on leasing is calculated based on the nominal interest rate applied to the deductible balance, and the actual annual interest rate shows how much the lease will cost you provided that you make timely interest payments and all the related mandatory fees and payments related to disbursement of leasing amount.
The procedure for calculating the annual actual interest rate can be found at the
following link.


List of fees incurred by the customer if collateral and insurance are required

Collateral valuation

In case of immovable property, starting from AMD 18,000 (depending on the type and area)
In case of movable property, starting from AMD 10,000 (depending on the type)

Single reference

Immovable property - AMD 10,000
Movable property - AMD 0

Registration of the right of pledge in the RA Cadastre Committee

Immovable property - AMD 27,000
Movable property - AMD 2,000

Notary validation

AMD 20,000


- Immovable property/real estate - 0.12 – 0.25 (if required)
- Passenger car (Casco) – 1.5-2.5% (if used as a taxi - 6%)
- Other movable property - 0.185 - 0.5%
- Special purpose movable property as quoted by the insurance company

Collateral evaluation
- In case of purchase from the primary market, the amount specified in the purchase agreement or invoice may be taken as a basis for the value of leasing object.
- The pledged real estate is subject to evaluation by one of the evaluation companies cooperating with the Bank. The evaluation company is selected by the Customer. The evaluation report is usually valid within 2 (two) months from the date of the report. An additional re-evaluation may be required if necessary (for example, if market prices change).

Evaluating companies

Evaluating company


Telephone numbers

"Amintas Group" LLC

"Tun Depo" complex, 23/6 Artsakh Str., c. Yerevan

(010) 432 276,(094) 432 276, (096) 432 276

"RVM Consult" LLC


Tpagrichneri str. 9, room 114, c. Yerevan


(010) 546 490, (098) 944 449, (077) 944 449, (093) 944 449

"Abit" LLC

 Tumanyan str. 8, room 314, c. Yerevan

(033) 999 880, (096) 999 888


Vardanants passage 8/3, room 209, c. Yerevan

(010) 588 797, (043) 588 797

Collateral insurance
The Bank may require insurance of the subject of leasing and collateral, based on the characteristics of the transaction or the pledged property and the degree of creditworthiness of the borrower, for the entire financing period, by any of the insurance companies cooperating with the Bank.

List of insurance companied


Insurance company


Telephone numbers

"Ingo Armenia" ICJSC

c. Yerevan, Hanrapetutyan 51, 53, Areas 47, 48, 50

(010) 592 121


c. Yerevan, Komitas Avenue 62

(060) 275 757, (098) 560 797

“Liga Insurance” ICJSC

c. Yerevan, Northern Avenue 1

(010) 591 010

"Nairi Insurance" LTD

c. Yerevan, 0033, Avet Avetisyan 116/1 and 116/5

(060) 500 060, (010) 543 594


c. Yerevan, 0033, Hr. Kochar 35/1, RA

(010) 700 800

Required documents


Application form for leasing financing


ACRA inquiry consents


For a legal entity - founding documents, identification document, Public Service Number or statement on not obtaining PSN  (not required if identification card is submitted)


  In case of an open joint stock company, a statement from the depositary on the shareholders


Statement on the property value provided by the seller to the customer


The original certificate of ownership of the pledged property, grounds for acquisition


Тax reports for the past one year


Statement on tax liabilities


Ownership Certificate or Lease Agreement for the place of activity, or other evidence of entitlement to the customer's place of business


Initial and basic collateral valuation (revaluation) report (after lease approval) or a basis for determining the value of the proposed collateral


Extract from the resolution on minutes of general meeting or sole participant on financing, pledging of property, guarantee


Collateral insurance certificates (if insurance required - after lease approval)


 Statement on limitations (after lease approval)


Other documents required by the Bank.

Credit history

Credit history is a collection of data on the financial obligations of an individual or legal entity, which shows the history of the latter’s financial obligations or their fulfillment.
The credit history includes data on 5 year-period prior to the date of inquiry, and is made from information on:
• Financing received by the person, including:
- their number and amount,
- the amount, type, terms of each financing, the nominal interest rate applied by the creditor,
- the information on collaterals securing loan/financing.
• Fulfillment of loan repayments (for example, whether the interest and principal amount repayments were duly paid or not),
• Guarantees provided to other persons, their number and amount, the type of loan secured by each guarantee, terms and information regarding collaterals,
• Overdue days/amounts in terms of financing and guarantees, as well as the penalties and fines charged for them,
• Unpaid or late utility bills.

Credit history does not contain personal data, such as a person’s ethnicity, religious and political views, social status, etc.

If there are incorrect or incomplete data in the credit history, for the purpose of clarification and correction, the borrower can inform about it "ACRA Credit Reporting" CJSC, hereinafter also Credit Bureau, or directly contact the financial organizations providing information. People can address credit bureau by submitting an appropriate written application or electronically, online from the personal portal "My ACRA".
The process of accepting/receiving, discussing and responding to customer complaints regarding credit reports provided by the credit bureau, the sequence of actions is defined by the "Procedure for Dispute Resolution" of "ACRA Credit Reporting" CJSC.

For more details follow the links: and links.

Measures to take to improve the credit history and scoring

In order to improve credit history and scoring, it is necessary to eliminate the main causes of their deterioration, in particular, to pay off current overdue obligations as soon as possible, as well as:

• ease the credit burden by partially or fully repaying existing loans,
• make repayments in accordance with the established schedule, excluding delays and showing punctuality,
• reduce the given guarantees by reducing their number and amount, as well as, if available, ensuring the full repayment of overdue obligations,
• avoid even one-day delays in fulfilling obligations on current/existing loans and becoming a guarantor for unreliable persons,
• avoid applying for new loans frequently.

Communication with the Bank
You have the right to communicate with Converse Bank CJSC in any format at your discretion - by postal mail or by electronic communication methods. It is most convenient to receive information electronically, as it is available 24/7, free from the risk of loss of hard copy (paper based) information and ensures confidentiality.

Provision of statements, references and other information (including VAT)

    • Provision of single statement (regardless of periodicity) - AMD 0,
    • For a duplicate 1.

- Covering a period of up to one month- AMD 1,800
- From two months up to 1 year - AMD 3,000
- Up to one year - AMD 12,000
- Up to 3 years (in case it is stored by the Bank) - AMD 24,000

  • Statementfor submitting to different institutions1
- In case of accounts opened within a month 2 AMD 5,000
- In case of accounts opened earlier - AMD 3,000
  • References / Letters
 On transactions made
- For transactions dated back up to one month - AMD 3,000
- For transactions dated back more than one month - AMD 5,000
 Notice of agreement on consecutive pledge/alienation of property pledged in the Bank - AMD 6,000 for each pledged property
  • Transaction support documents and copies of other documents (for each document)
- Dated back up to 1 month - AMD 1,800
- Dated back up to 1 year - AMD 3,000
- Dated back more than one year - AMD 12,000

Tariffs for other services (including VAT)

• Mail delivery of statements or other documents

Intra-republican – AMD 500
- Tariff set by the delivery service provider, if established by law and contract.
- In other cases, the fee set by the shipment service provider + AMD 1,500

• Delivery of references or other documents via Ordered mail delivery

- Intra-republican - AMD 3,000
- International - fee set by the shipment service provider + AMD 5,000

• Granting consent for registration of persons at the address of pledged real estate (irrespective of number of registered persons) - AMD 3,000
• Granting consent for modification of documents on real estate property pledged with the Bank3 - AMD 20,000
• Granting consent for the lease of pledged real estate property- AMD 12,000
• Granting consent to change the registration plates of the pledged car - 12,000 AMD
• Granting consent for the lease of pledged vehicle - AMD 8,000
• Granting consent to take out of the country the movable property pledged in the Bank - AMD 12,000 (for each pledged property)
• Partial release of pledged property based on the application of the pledgor or the lessee - AMD 20,000 (per property)
• Lease terms revision4 - 0.5%, minimum AMD 6,000


1 In case of simultaneous provision of a statement and reference to the same Customer and charge envisaged for the reference, the charge will be collected for reference only.
2 In case of more than one active account, the opening date of account which has been opened earlier is taken into consideration irrespective of whether or not included in the statement.
3 The tariff shall be calculated on the basis of the estimated initial value of the collateral.
4 The tariff is calculated based on the amount of lease provided. The tariffs are set at the time of submission of the application by the customer for revision of the lease terms.


Due to the change in the foreign exchange rate, the actual annual interest rate and the amount of lease repayments may change.  

If you fail to fulfill or incompletely fulfill your obligation, within three business days this information will be provided to the credit bureau where your credit history is formed. Having a bad credit history can negatively affect your creditworthiness in the future.

You have the right to receive your credit history report for free once a year from the credit bureau.

Your property may be confiscated by law if you fail to make your interest and lease repayments on time.

In case of insufficient funds to repay your lease liabilities, they may be repaid at the expense of your other property and/or that of the guarantor, as prescribed by the RA legislation.

In accordance with the RA Law on Combating Money Laundering and Terrorist Financing, on the basis of the Know Your Customer Principle, the Bank may require the Customer to provide additional documents or other information, as well as ask questions during verbal communication, for the purpose of conducting due diligence of the Customer.  

The Bank may collect additional information in accordance with the terms of an agreement with the US Government under the Foreign Account Tax Compliance Act (FATCA) to determine your eligibility for being a US taxpayer.

The Bank is entitled to modify and supplement the tariffs for additional services provided by notifying the Customers in accordance with the agreement, by posting a relevant message on its own website ( ), by posting announcements on the Bank's premises, by sending a notification by post, and by any other methods proposed by the Bank selected at the Customer's discretion, which is considered a due notification of the Customer.

Factors for approval and rejection of the leasing financing
The Bank is inclined to approve the leasing financing, if the applicant:

  • Meets the conditions and restrictions of the particular leasing financing,
  • Secures his lease obligation with a pledge and guarantee, at the request of the Bank,
  • As a result of the assessment the applicant is recognized as creditworthy,
  • The documents and references submitted by the applicant are credible and include all necessary information,
  • The applicant's credit history is either positive or missing.
    The incompliance on the part of the applicant with any of the aforementioned conditions and with the requirements of the Bank’s internal regulations can cause the rejection of the leasing financing.

Time periods for notifying the customer of the decision to provide the leasing and for the disbursement of leasing amount.
 The decision takes up to 10 banking days,
 The Customer is informed within one day,
 The leasing agreement is concluded with the customer within 3-5 banking days after submission of the complete package of documents by the Customer,
The actual disbursement of the leasing to the Customer is performed upon receiving the certificate of leasing right (if required –pledge right) from the relevant state authorities.

Venue for lease formalities and method of disbursement
Leasing is provided at Head Office and Branches.
The leasing amount is transferred directly to the seller’s account.

Settlement of Disputes
Any disputes and disagreements between the Customer and the Bank shall be resolved first by mutual negotiation, and should the agreement not be reached by such methods, the disputes and disagreements shall be resolved in accordance with the procedure prescribed by the RA legislation both per court procedure, and through Financial System Mediator.

Notice on Financial System Mediator
Please be advised that based on the RA Law on Financial System Mediator, the disputes relating to a property claim for up to AMD 10 million or equivalent foreign exchange amount arising with regard to the services rendered to you by Converse Bank CJSC can be settled through the Financial System Mediator.
Based on the agreement concluded between the Bank and the Financial System Mediator, the Bank abandons the right to dispute the resolutions of the Financial System Mediator only for property claims not surpassing AMD 250,000 (two hundred fifty thousand) or the equivalent foreign exchange (FX), and the amount of the transaction not surpassing AMD 500,000 (five hundred thousand) or equivalent FX.

Location: 15 M. Khorenatsi, 0010 Yerevan
Floor 7, Elite Plaza business Center
Tel. (+ 37460) 70 11 11
Fax (+ 37410) 58 24 21
Email [email protected]

Contact the Bank
For additional information, please

  • Visit the Bank’s website
  • Visit the Customer Service Office at the Head Office or any branch of the Bank
  • Call +374 10 511211
  • WhatsApp: +374 95 511211
  • Skype: conversebank-callcenter

Updated on 14.01.2024