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New, more convenient lending terms offered by "Converse Bank" for acquisition of real estate

15.08.2007

Previously these loans were granted with a repayment period of 10-12 years and an interest rate of 13-14% per annum: now the period has been extended. It is now possible to receive o loan with a repayment period of 7-15 years and an interest rate of 11-14%.

Moreover, now the advanced (down) payment can be 20% intead of the former 30%, depending on the form of lending.

Specifically, in Yerevan:

Form of lending

Advanced payment

Interest rate

Period

Form of principle amount and repayment of interests

A

20%

14%

Up to 15 years

Even payments

B

20-30%

13%

Up to 12 years

Even payments

C

30-50%

12%

Up to 10 years

Even payments

D

50%

11%

Up to 7 years

Even payments

The commission for the loan servicing is only 1% of loan remainder as per annum.

Lending for acquisition of real estate is also available in some branches of "Converse Bank" with the following terms:

"Vanadzor" and "Gyumry"

For customers not holding a Converse account:

Advanced payment

Interest rate

Period

Form of calculation interests

Minimum 35% of the appraised amount

16%

10 years

Even payments, the accounting of interest on the basis of remainder

For customers holding a Converse account for at least three months:

Advanced payment

Interest rate

Period

Form of calculation interests

Minimum 35% of the appraised amount

15%

10 years

Even payments, the accounting of interest on the basis of remainder

"Nor Hadjen" and "Hrazdan"

For customers not holding a Converse account:

Advanced payment

Interest rate

Period

Form of calculation interests

Minimum 30% of the appraised amount

15%

10 years

Even payments, the accounting of interest on the basis of remainder

For customers holding a Converse account for at least three months:

Advanced payment

Interest rate

Period

Form of calculation interests

Minimum 30% of the appraised amount

14%

10 years

Even payments, the accounting of interest on the basis of remainder

In all indicated branches the commission for loan servicing is only 1% of the loan and no more than AMD 80 000.

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