The loan is provided in AMD.
Maximum limit of lending – AMD 12 000 000.

Maximum maturity of the loan

24 months

Prepayment and interest rate

Prepayment 50% and more 11%
Prepayment from 40% to 49% - 13%
Prepayment from 30% to 39% - 15%

Procedure of repayment of the loan and interest amounts
The Borrower makes repayment of the loan and interest amounts on monthly basis with “Annuity” method (equal monthly instalments).

Fee for consideration of the loan application
AMD 5 000

Card account service fee
AMD 0

Other payments

The Borrower pays the costs of insurance of the car, as well as the expenses of notary verification of the collateral agreement and the costs of its registration in the authorized state body.

Penalties
In case of violation of the repayment terms envisaged by the agreement, the Borrower shall pay penalty to the Bank, for each day of delay:

• 0.15% of the overdue loan amount
• 0.4% of the overdue interest amount

on the 5th working day of delay in repayment of the loan and/or interest amount a one-off penalty is charged in the amount of AMD 15 000

Security

Pledge of the purchased car
By the Bank’s demand – availability of a guarantee of RA citizen who owns some property.

Property insurance

The car purchased with the funds provided by the Bank should be insured with any of the insurance companies cooperating with the Bank, for the amount of the market value of the car, during the whole validity period of the loan agreement.

Necessary documents

1. Loan application-questionnaire;
2. 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 client submits an identification card, where the public services number is specified);
3. A reference on the place of residence, specifying the family members living together;
4. Original of the ownership right certificate for the car (after approval of the loan).

Maximum term of making a decision on the loan application
8 working days

Term of notifying the borrower about the decision
1 working day

Term of provision of the loan
3 working days after signing of the collateral agreement for the car, its notary verification and registration in the authorized state body.

Other mandatory conditions
The loan is disbursed after signing of the collateral agreement for the car, its notary verification and registration in the authorized state body, as well as after insuring of the pledged property in favour of the Bank.

After enforcement of the decision, the period set for collection of the remaining required documents and disbursement of the loan is 45 calendar days. If the loan isn’t disbursed within the specified time period, then the decision on lending is revoked and the loan is presented for repeated discussion, charging the double amount of the fee for consideration of the loan application.