Cards with non-restorable limit, not secured with collateral
Attention
- Credit cards with non-restorable limit, not secured with collateral can be used within the scopes of the credit limit provided by the bank.
| Type of service | Credit card not secured with collateral | |
| Type of card | VISA Electron/ARCA | |
| Restrictions | The credit limit of the card can be used within a month | |
| Currency of the card | USD, Euro | |
| Amount of the credit limit | AMD 300 000 and more (equivalent in foreign currency) | |
| Validity term | 36 months | |
| Repayment period of the credit limit | 18 months | |
| Provision of the card | 0 | |
|
Provision of cash in the Bank’s encashment points and AMTs |
3% | |
| Provision of cash in encashment points and AMTs of other banks | 4% | |
| Card to card transfer | 3% | |
| Transactions at points of sale | 0 | |
| Card account service fee | AMD 3 000 | |
| Term of preparation and provision | Maximum 5 working days | |
| Interest rate | 16% | ԱUSD |
| 14% | Euro | |
Setting limit
Maximum up to three-fold of the net salary of average monthly income /from entrepreneurial activity, pension, rent, and other documented income/ of account holder and non-account holder of " Converse bank" CJSC, depending on the client's creditworthiness
Procedure of repayment and calculation of interest
Repayment begins one month after the term of usage, with annuity method /equal instalments/
Penalties
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 required documents
- Application,
- Passport,
- Social card/ or public services number (if available)
- Reference from the place of employment printed on the employer’s letterhead, specifying the position held, length of service, and size of the net salary. The client can be also required to present a copy of his/her available annual individual statement submitted for the client by the employer to the RA Social Insurance Fund. (this list of documents doesn’t apply to cards secured with pledge of funds or to corporate credit cards).
Other documents, if required.
- If cards are provided to private entrepreneurs:
*PE’s certificate,
*TIN,
*Results of business analysis approved by the CFD, according to "Converse bank" CJSC's Regulation on Provision of Individual Loans,
- Other documents evidencing income.
* The salary reference shall be dated not more than 15 calendar days before the date of submission.