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Loans secured with pledge of account

One-time loan secured with pledge of monetary funds and non-material metal accounts

One-time loans secured with pledge of monetary funds and non-material metal accounts are the loans secured with the monetary funds available on the accounts.

Loan conditions

 

Deposit currency

 Վարկի արժույթ

AMD

USD

EURO

AMD Deposit interest+3% Current CBFR* for USD+3% Current CBFR* for Euro+3%
USD Current CBFR* for AMD+3% Deposit interest+3% Current CBFR* for Euro+3%
EURO Current CBFR* for AMD+4% Current CBFR* for USD+4% Deposit interest+3%
Non-material metals 20% 15% 13%

*CBFR - Flexible Rate of "Converse Bank"

The interest rate cannot exceed double fold of the bank reference rate set by the CBA.

Method of provision of the loan One-time loan
Loan currency AMD
Collateral

 

Balance on accounts

One-time loans secured with pledge of monetary funds and non-material metal accounts and credit cards (hereinafter referred to as the Loan) are the loans disbursed to private individuals, secured with pledge of account balances (except for the deposit type "Cumulative pension deposit", state support, social packages, and other special and demand accounts defined by the Bank’s internal regulations)

 

Loan/collateral ratio
  • If the currency of the loan and the collateral is the same - up to 95%
  • If the currencies of the loan and the collateral are different - up to 80%
  • In case of deposit agreements with prepaid interest, as well as if the collateral is a non-material metal account, the loan/collateral ratio is determined by the TDFMD.
Loan maturity
If the currency of the loan and the collateral is the same Up to 5 (five) years (if the collateral is the monetary funds available on the term deposit account, then not more than the deadline of the term deposit agreement, and if the collateral is a savings account or a non-material metal account, then the term defined by the collateral agreement)
If the currencies of the loan and the collateral are different, as well as if the collateral is a non-material metal account Maximum 1 (one) year (if the collateral is the monetary funds available on the term deposit account, then not more than the deadline of the term deposit agreement, and if the collateral is a savings account or a non-material metal account, then the term defined by the collateral agreement)

General provisions and conditions

Procedure of interest calculation

On daily basis, towards the balance of the loan/used amounts, taking as a basis the calendar year, divisor - 365 days.

Procedure of repayment of the loan and interest amount

If the loan is disbursed for a period of two years:

By the customer’s choice - by monthly instalments (it refers only to the interest amount, and the principal loan amount can be repaid during the validity period of the agreement, in parts or completely) or at the end of the maturity term.

If the loan is disbursed for a period above two years:

By monthly instalments (it refers only to the interest amount, and the principal loan amount can be repaid during the validity period of the agreement, in parts or completely).

Penalty

In case of violation of the repayment terms specified by the agreement, the Borrower pays penalty to the Bank at the rate of 0.13% of the overdue amount for each day of delay.

List of necessary documents to be submitted to the Bank

  • Application for funding secured with pledge of monetary funds and non-material metal accounts;
  • Personal identification document, public services number, or a reference on absence of a public services number issued by the body running the state register of the population (isn’t required, if the customer submits an identification card, where the public services number is specified).

Attention

For all those loans, which comply with the requirements of the RA Law "On Consumer Lending", after making a positive decision on the loan application and before signing the loan agreement, the Bank shall provide you with an Individual sheet, based on the loan conditions and the documents submitted by you.

The loan is disbursed at the head office and the branches.