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.
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 |
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 |
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 |