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Campaign

Buy a car from the primary market making use of a special offer

The campaign is valid from June 05, 2018 to December 28, 2018, inclusive.

The loan is provided to RA citizen and/or resident private individuals for purchase of a car and other vehicle/s/ for personal use from primary markets.

The borrower’s (co-borrower’s/guarantor’s) age shall be between 23 and 65, on condition that the borrower’s age shall not exceed 66 at the time of expiry of the Loan Agreement term. The Bank may issue the loan on condition of availability of a co-borrower and/or guarantor, and the minimum acceptable age for the co-borrower and the guarantor is also 23-65, provided that the co-borrower’s/guarantor’s age shall not exceed 66 at the time of expiry of the Loan Agreement term.

 Loan currency, minimum and maximum amount

 Minimum AMD 2 mln, maximum AMD 12 mln, and for Converse Club member customers - AMD 50 mln. The loan amount cannot exceed 90% of the value stated in the invoice provided by the car salon or in some other relevant document.

 Maturity up to 36 months 37-60 months 61-84 months
 Interest rate if the downpayment is 40% and more
Fixed floating (the interest rate might be revised starting from the 37th month)

11%

12.5%

13%

(CBFR +2%)
 Interest rate if the downpayment is 20-39%

12%

12.9%

14%

(CBFR +3%)
  Interest rate if the downpayment is 10-19%

13%

14%

15%

(CBFR +4%)
 Security  The loan should be secured by pledge of the purchased car; in some cases, immovable property can be pledged.
 Revenue analysis
 The maximum amount of monthly repayments of the principal amount of the loan and the accrued interest cannot exceed 50% of the monthly net income /PTI/ earned by the borrower and co-borrower/guarantor /if any/.
 Loan disbursement fee  1% of the loan amount, minimum AMD 25,000, maximum AMD 50,000
 Loan account service fee  Monthly AMD 2,000
 Fee for review of the loan application  AMD 5,000, is charged once, at the time of recording the loan application  

* The year of manufacturing of the car shall not be lower than 2016.
** Is not required in case of downpayment of 40% and more.
*** Does not apply to cars manufactured earlier than in year 2018 or used cars. In this case the interest rate is raised by +1 percentage point.

General provisions and conditions

Restrictions

At the time of submission of the loan application, according to ACRA inquiry and based on other information collected by the Bank:

  •  The borrower and co-borrower and/or guarantor, if any, shall not have current overdue and/or classified liabilities/guarantees;
  •  During the last one year, the borrower and co-borrower and/or guarantor, if any, shall not have credit liability/ies/ classified under a class stricter than watch and total of 20 and more overdue days for all loans /except guarantees/.

Procedure of repayment of the loan and interest amount

  •  Annuity (the sum of the loan principal amount and the interest is paid equally, on monthly basis)
  •  Spring-like (the loan principal amount is paid in equal sums, while the interest amount - decreasingly, calculated towards the balance of the loan; the principal and interest amounts are repaid on monthly basis)
  •  Mixed (the customer has the opportunity to choose a preferable individual repayment schedule, based on the dynamics of the customer’s financial flows. In this case, the maximum maturity of the loan might be 60 months, and the interest shall be paid monthly, while the principal loan amount - in equal sums, with intervals from 2 to 6 months

Evaluation of the pledged property

Vehicles are not evaluated. The price specified in the reference provided to the customer by the company selling the car is considered as the collateral value.

Additional security

As additional security, the Bank might demand also a guarantee by private individuals and/or legal entities, or other movable property.

Insurance of the pledged property

Not required

Penalty

Upon default of payment of principal and/or interests, the Borrower pays the Bank a penalty at 0.13% of the overdue principal and interest for each day of delay.

List of required documents to be submitted to the Bank

  • The loan application-questionnaire;
  • The borrower’s and co-borrower’s and/or guarantor’s, if any, personal identification document (original) and public services number or a reference on absence of a public services number;
  • The borrower’s and co-borrower’s and/or guarantor’s, if any, consent for making of an ACRA inquiry and the ACRA inquiry itself;
  • The invoice provided by the car salon or another relevant document;
  • Technical certificate for the car (after approval of the loan), to be returned to the borrower after submission to the Bank of the state registration certificate for pledge of the vehicle;
  • The ownership right certificate for the car (after approval of the loan);
  • Reference regarding restrictions on sale of the vehicle (after approval of the loan);
  • Marriage certificate/s/ (if any) of the Borrower and pledgers (if they are different persons), the personal identification document of the spouse, consent for making of an ACRA inquiry and the ACRA inquiry itself. It should be noted that the Borrower and the pledger can be different persons only in case if they are interrelated parties in accordance with the RA Law on Banks and Banking;
  • Other documents, as requested by the Bank.

The customers who have a mortgage loan or a loan secured with pledge of immovable property at the Bank

The Loan is provided to RA citizen and/or resident private individuals for purchase of a car and other vehicle/s/ for personal use from primary markets.

RA citizen and/or resident private individual who, at the time of disbursement of the loan specified by this decision:

  •  Has a current mortgage loan at the Bank, serviced for minimum 3 years, and the loan/collateral ratio, taking into account the correlation of the loan balance at the time of submitting the application to the liquid value according to the evaluation made during the last 3 years, is not more than 80%, or
  •  Has a current credit liability secured with pledge of immovable property at the Bank, serviced for minimum 3 years, and the loan/collateral ratio, taking into account the correlation of the loan balance at the time of submitting the application to the liquid value according to the evaluation made during the last 3 years, is not more than 60% in case of branches located in Yerevan and 40% in case of branches located outside Yerevan, or

RA resident sole entrepreneur private individual or founder, owner, shareholder or participant of a legal entity with minimum 30 participation in that legal entity, serviced at the Bank for minimum one year, who has a commercial loan for the minimum original amount of AMD 5 mln. or its equivalent in foreign currency, which has not been restructured during the service period. The loan can be issued also to adult RA resident family members of the persons specified in clause 2.2 herein, such as spouse, children, and/or persons considered as interrelated according to the RA Law on Banks and Banking.

 Loan currency, minimum and maximum amount  Minimum AMD 2 mln, maximum AMD 15 mln, and for Converse Club member customers – AMD 50 mln. The loan amount cannot exceed 90% of the value stated in the invoice provided by the car salon or in some other relevant document.
 Maturity  up to 36 months 37-60 months 61-84 months
 Nominal annual interest rate

12%

 13%

15% 

(CBFR +4%)
 Revenue analysis  Not required
 Downpayment  Starting from 0%

General provisions and conditions

Restrictions

At the time of submission of the loan application, according to ACRA inquiry and based on other information collected by the Bank:

  •  The Borrower and co-borrower and/or guarantor, if any, as well as the sole entrepreneur or organization - in case of clause 2.2 of this annex, shall not have current overdue and/or classified liabilities/guarantees;
  •  During the last one year, the Borrower and co-borrower and/or guarantor, if any, as well as the sole entrepreneur or organization - in case of clause 2.2 of this annex, shall not have credit liability/ies/ classified under a class stricter than watch and total of 20 and more overdue days for all loans /except guarantees/.

Additional security

As additional security, the Bank might demand also a guarantee by private individuals and/or legal entities, or other movable property.

As additional security, the Bank might demand a guarantee by the sole entrepreneur (except for cases when the borrower is the sole entrepreneur) or an organization and/or another founder, owner, shareholder, or participant of the latter. Guarantee by another person may be demanded in separate cases.

List of required documents to be submitted to the Bank 

  • The loan application-questionnaire;
  • The borrower’s and co-borrower’s and/or guarantor’s, if any, personal identification document (original) and public services number or a reference on absence of a public services number;
  • The borrower’s and co-borrower’s and/or guarantor’s, if any, consent for making of an ACRA inquiry and the ACRA inquiry itself;
  • The invoice provided by the car salon or another relevant document;
  • Technical certificate for the car (after approval of the loan), to be returned to the borrower after submission to the Bank of the state registration certificate for pledge of the vehicle;
  • The ownership right certificate for the car (after approval of the loan);
  • Reference regarding restrictions on sale of the vehicle (after approval of the loan);
  • Marriage certificate/s/ (if any) of the Borrower and pledgers (if they are different persons), the personal identification document of the spouse, consent for making of an ACRA inquiry and the ACRA inquiry itself. It should be noted that the Borrower and the pledger can be different persons only in case if they are interrelated parties in accordance with the RA Law on Banks and Banking;
  • Other documents, as requested by the Bank.

Other conditions

  • For immovable property/ies/ pledged with the Bank only supplementary agreement is signed without notarization, afterwards the immovable property can be released from pledge by approval of the governing unit, if the loan balance/car pledge ratio is maximum 70% (calculated towards initial cost of the car).

The customers who have a term deposit at the Bank or have purchased a bond issued by the Bank

The Borrower shall be an RA citizen and/or resident private individual, who, at the time of disbursement of the loan specified by this decision:

  • Has a current mortgage loan at the Bank, serviced for minimum 3 years, and the loan/collateral ratio, taking into account the correlation of the loan balance at the time of submitting the application to the liquid value according to the evaluation made during the last 3 years, is more than 70%;
  • Has a current credit liability secured with pledge of immovable property at the Bank, serviced for minimum 3 years, and the loan/collateral ratio, taking into account the correlation of the loan balance at the time of submitting the application to the liquid value according to the evaluation made during the last 3 years, is more than 50% in case of branches located in Yerevan and 40% in case of branches located outside Yerevan.
 Loan currency, minimum and maximum amountt   Minimum AMD 2 mln, maximum AMD 12 mln, and for Converse Club member customers - AMD 50 mln. The loan amount cannot exceed 100% of the value stated in the invoice provided by the car salon or in some other relevant document.

 

Maturity

 The date of repayment of the AMD deposit and/or redemption of the bond.

 In case of pledging a term deposit, the loan maturity can be set up to 84 months by the customer’s choice, and the term deposit is extended until full repayment of the loan; if the term deposit is terminated for the purpose of making another term deposit with longer maturity, which will subsequently be pledged under the terms of this annex, then the deposit interests are not recalculated.

 Nominal annual interest rate CBFR for AMD +3 percentage points, but not less than the interest rate of the deposit pledged at the time of loan disbursement, or the coupon interest rate of the bond plus 3 percentage points
 Revenue analysis  Not required
 Downpayment  Starting from 0%

General provisions and conditions

List of required documents to be submitted to the Bank

  1.  The loan application-questionnaire;
  2.  The borrower’s and co-borrower’s and/or guarantor’s, if any, personal identification document (original);
  3.  Public services number or a reference on absence of a public services number;
  4.  The borrower’s and co-borrower’s/guarantor’s, if any, consent for making of an ACRA inquiry and the ACRA inquiry itself;
  5.  The invoice provided by the car salon or another relevant document;
  6.  Technical certificate for the car (after approval of the loan), to be returned to the borrower;
  7.  Reference regarding restrictions on sale of the vehicle (after approval of the loan);
  8.  Other documents, as requested by the Bank.

Car loan issued to premium customers

The Loan is provided to RA citizen and/or resident private individuals for purchase of a car and other vehicle/s/ for personal use from primary markets.

RA citizen and/or resident private individual who, at the time of disbursement of the loan specified by this decision:

  • Has a current mortgage loan at the Bank, serviced for minimum 3 years, and the loan/collateral ratio, taking into account the correlation of the loan balance at the time of submitting the application to the liquid value according to the evaluation made during the last 3 years, is not more than 80%, or
  • Has a current credit liability secured with pledge of immovable property at the Bank, serviced for minimum 3 years, and the loan/collateral ratio, taking into account the correlation of the loan balance at the time of submitting the application to the liquid value according to the evaluation made during the last 3 years, is not more than 60% in case of branches located in Yerevan and 40% in case of branches located outside Yerevan, or

RA resident sole entrepreneur private individual or founder, owner, shareholder or participant of a legal entity with minimum 30 participation in that legal entity, serviced at the Bank for minimum one year, who has a commercial loan for the minimum original amount of AMD 5 mln. or its equivalent in foreign currency, which has not been restructured during the service period. The loan can be issued also to adult RA resident family members of the specified persons, such as spouse, children, and/or persons considered as interrelated according to the RA Law on Banks and Banking.

 Loan currency, minimum and maximum amount  AMD 15,000,001 - 45 mln., and for Converse Club member customers – AMD 50 mln. The loan amount cannot exceed 80% of the value stated in the invoice provided by the car salon or in some other relevant document.
  Maturity up to 36 months 37-60 months  61-84 months 
  Annual interest rate in case of downpayment of 40% and more

11%

12.5%

13% 

(ԿԲՀՏ +2 )
 Annual interest rate in case of downpayment of 20-39%

12%

12.9%

14% 

(ԿԲՀՏ +3 )
 Security  The loan should be secured by pledge of the purchased Car; in some cases, real estate can be pledged.
 Loan disbursement fee  0.5 percent of the loan amount, minimum AMD 75.000, maximum AMD 150.000

General provisions and conditions

Restrictions

At the time of submission of the loan application, according to ACRA inquiry and based on other information collected by the Bank:

  •  The Borrower and co-borrower and/or guarantor, if any, as well as the sole entrepreneur or organization, shall not have current overdue and/or classified liabilities/guarantees;
  •  During the last one year, the Borrower and co-borrower and/or guarantor, if any, as well as the sole entrepreneur or organization, shall not have credit liability/ies/ classified under a class stricter than watch and total of 20 and more overdue days for all loans /except guarantees/.

Additional security

As additional security, the Bank might demand also a guarantee by private individuals and/or legal entities, or other movable property.

CASCO insurance of the pledged car

Is made by the customer with the Bank-partner insurance companies, for the value of the car.

List of required documents to be submitted to the Bank

  •  The loan application-questionnaire;
  •  The Borrower’s and co-borrower’s and/or guarantor’s, if any, personal identification document (original) and public services number or a reference on absence of a public services number /is not required in case of submission of an identification card/;
  •  The Borrower’s and co-borrower’s and/or guarantor’s, if any, consent for making an ACRA inquiry and the ACRA inquiry itself;
  •  The invoice provided by the car salon or another relevant document;
  •  Technical certificate for the car (after approval of the loan), to be returned to the borrower after submission to the Bank of the state registration certificate for pledge of the vehicle;
  •  The ownership right certificate for the car (after approval of the loan);
  •  Reference regarding restrictions on sale of the vehicle (after approval of the loan);
  •  Marriage certificate/s/ (if any) of the Borrower and pledgers (if they are different persons), the personal identification document of the spouse, consent for making an ACRA inquiry and the ACRA inquiry itself. It should be noted that the Borrower and the pledger can be different persons only in case if they are interrelated parties in accordance with the RA Law on Banks and Banking;
  •  Other documents, as requested by the Bank.

Other conditions

For immovable property/ies/ pledged with the Bank only supplementary agreement is signed without notarization, afterwards the immovable property can be released from pledge if the loan balance/car pledge ratio is maximum 70% (calculated towards the initial cost of the car).