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Create your credit history

CREATE YOUR CREDIT HISTORY

The loan is offered to all those private individual customers, who have reached the age of 18 and study at the higher educational institutions listed here.

Card type Visa Classic / Mastercard Standard
Currency AMD
Card validity period 36 months
Amount of the credit limit  Starting from AMD 40,000
  • up to AMD 300,000
  • up to AMD 600,000 to students who get scholarship
  • If the student is employed at the time of provision of the credit limit in case of submission of the required documents, the limit can be increased up to four-fold of the net salary. The customer must have at least three months of work experience in the workplace.
Nominal annual interest rate 15%
Annual Percentage Rate
16.52% - 22.35%
Type of the credit limit
  • Revolving
  • Without a grace period
  • with no down payment for a reduced grace period;
Credit account annual service fee*  AMD 1,000
One-off fee for credit line issuance / increase (also applicable for reissuances) 0.3%
Cash withdrawal fee at cash points and ATMs
  • Converse Banks' ATMs: 0.2%
  • Provision of cash at encashment points and ATMs of other ARCA system member banks: 1%
  • rovision of cash at encashment points and ATMs of banks that are not members of ARCA system: 1%, min AMD 1,500
Cash withdrawal from card account without presenting card 1%
Reduction of credit limit according to customer's request AMD 0
Increase of credit limit according to client's request AMD 1,000
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 service fee is charged at the time of card issuance for the whole year. In case of early termination of the contract the service charge is not subject to refund.

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.