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Create your credit history

CREATE YOUR CREDIT HISTORY

The term of the promotion is up to December 30, 2018, inclusive

The campaign is offered to all those private individual customers, who have reached the age of 18 and study at the higher educational institutions included in the list of HEIs acceptable for the Bank for the purpose of issuance of Student Loans, as well as 12th-grade adult students of International Scientific-Educational Complex Shirakatsy Lyceum and Ayb Educational Foundation, and those who get scholarship.

Card type MC Standard plastic card
Credit account service fee The annual service fee throughout the validity period of the card will be AMD 0
Commission fee for cash withdrawal at encashment points and ATMs of the Bank  0%
Currency and amount of the credit limit

The credit limits is provided in AMD

  •  up to AMD 200,000.00,
  •  to students who get scholarship - up to AMD 400,000.00,
  •  to students of the American University of Armenia and the French University in Armenia Foundation - up to AMD 400,000.00, regardless of the fact whether their get scholarship or not.
  •  to 12th-grade adult students of International Scientific-Educational Complex Shirakatsy Lyceum CJSC and Ayb Educational Foundation - up to AMD 200,000.00, regardless of the fact whether their get scholarship or not.
Validity period of the credit limit 36 months
Nominal annual interest rate 15%
Type of the credit limit
  • Revolving
  • Without a grace period
Restrictions As of the time of provision of the credit limit, the Borrower shall not have classified credit liabilities /guarantees/ and total 20 days of delay in repayment of the serviced liabilities or classification of liabilities during the last 3 years.
Other conditions
  • If the student is employed at the time of provision of the credit limit or after its provision until expiry of its validity term, in case of submission of the required documents, the limit can be increased up to three-fold of the net salary.
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 necessary documents to be submitted to the Bank
  1. Loan application-questionnaire;
  2. Originals of the borrower’s and guarantor’s personal identification document and public services number /a reference on absence of a public services number/;
  3. A reference from the educational institution or a student’s record book evidencing the fact of being a student;
  4. A reference from the educational institution or a card account statement from the servicing bank evidencing the fact of receiving scholarship by the student, and in case of receiving scholarship for excellent study - a reference from the educational institution evidencing the fact of receiving scholarship for excellent study;
  5. In case if the student studies at the American University of Armenia or the French University in Armenia Foundation, the documents listed in clause 4 aren’t required;
  6. If the limit is increased on the basis of salary - a reference from the employer stating the size of the net salary. The reference shall not be dated more than 15 calendar days before submission.

The Students making the maximum quantity of non-cash transactions for the total amount exceeding AMD 500,000.00 until 01.07.2018, i.e. the end of academic year 2018, and will be making use of the settlement cards provided within the framework of the promotion "CREATE YOUR CREDIT HISTORY" without any classification, will have the following advantages towards the events dedicated to the 25th anniversary of the Bank*:

a) 10 of such Students can be included in the list of persons to get practical training at the Bank;

b) The Students who will have the best results during the practical training and will meet the Bank’s criteria, can be registered in the reserve of the Bank’s human resources, with the possibility of further employment at the Bank /minimum 3 students/;

c) Disbursement of a mortgage loan for purchase of real estate to the Student or to one of the family members living together with the Student, at an interest rate by 1 percentage point lower than the rate currently applied at the Bank, and in case of project loans - the received resource + by 1 percentage point in case of complying with the Bank’s lending conditions /minimum 5 students/;

d) For married student couples, in case of excellent study of one of the spouses and in case of submission of the marriage certificate and the documents evidencing the fact of excellent study, the student having excellent grades will get a card as a gift /Visa Classic or Master Standard/ with a balance of AMD 150,000, including the taxes set by the legislation of the RA /5 students in total/. Such couples can also benefit from the advantages mentioned in sub-clause "c" of this decision.

*Choice of the students will be made by the committee established by the Bank special for this purpose; representatives of the authorizes state government body can also be members of such committee.