Hot Line +37410 511 211

#ConverseShoppingCard

#ConverseShoppingCard

Eligible borrowers are RA residents aged 18 and older, applying to the Bank with the purpose of purchasing Goods by instalments from Points of Sale cooperating with the Bank.

Using ConverseShopping credit card, you can make non-cash purchases at Converse Bank’s partner points of sale*.

The card is available at any branch of the Bank and can be acquired on the following conditions:

Loan amount AMD 30,000 - 2,000,000 
Interest rate 0%
Loan currency AMD
Maturity 3-24 months**
Fee for provision of the credit card AMD 0 
Monthly service fee for the credit card 1% of the final used portion of the loan amount

** The credit card can be used within a month following the date of issuance of the respective loan.

General provisions and conditions

Creditworthiness requirements

If, at the time of submitting the loan application, the Applicant is a registered hired employee, then:

  • the Applicant shall not have credit liabilities (including guarantees) classified at a category stricter than “standard”, and
  • during one year before applying for the loan, the total number of the overdue days for all loans of the Applicant shall not exceed 20.

If, at the time of submitting the loan application, the Applicant is not a registered hired employee, then all below-mentioned conditions shall be met simultaneously:

  • during two years before applying for the loan, the Applicant shall have minimum two current and/or repaid loans, disbursed minimum two months before the date of applying for the loan (in the context of this condition, overdrafts/credit lines not secured with collateral and loans/credit cards secured with gold as collateral aren't considered as loans)
  • the Applicant shall not have credit liabilities classified at a category stricter than “standard” during one year before applying for the loan
  • during one year before applying for the loan, the total number of the overdue days for all loans of the Applicant shall not exceed 20
  • at the time of applying for the loan, the Applicant shall not have overdue credit liabilities (including guarantees).

Other restrictions

The applicant may have maximum two current loans at the Bank.
The maximum amount of the newly disbursed Loan shall not exceed ten-fold of the Applicant’s registered net income.

Loan disbursement

The decision to disburse a loan is made based on the response received as a result of processing of the customer's personal data by the automated scoring system. The maximum period required for making the final decision regarding the loan application on default conditions without any deviation is 15 minutes. In case of a positive decision, the customer may purchase the Product. The amount is transferred to the account of the Point of Sale within three banking days following submission to the Bank of the relevant documents validated by the Point of Sale. If loan application is processed by the Bank's employee represented the Bank at the Point of Sale, then the amount is transferred within three days following the date of signing of the relevant loan agreement, unless another term is specified by the framework cooperation agreement signed with the Point of Sale. The amount is transferred to the account of the Point of Sale within three banking days following submission to the Bank of the relevant documents validated by the Point of Sale.

Procedure of repayment of the loan and interest amount

The loan and interest amount are repaid with the annuity method (equal monthly instalments), which includes the principal amount and accrued interests, if any, with alternating portions.

Loan disbursement and service fee

The size of fees is specified in the framework cooperation agreement signed between the Bank and the Point of Sale.

In case of project loans, no fee might be charged, unless it is defined by the project conditions.

The size of the fee charged from the Point of Sale for transactions performed with cards is defined by the agreement on accepting plastic payment cards by trade and service centres as a method of payment.

Penalty

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 1,000.
No penalty is charged for early repayment of the loan.

Security

Information regarding the Applicant's creditworthiness and/or income.
The product purchased with the method of funding by instalments is recorded as collateral (in case of purchasing a service, another means of security might be required, including the third party guarantee).

The framework cooperation agreement signed between the Bank and the Point of Sale might contain a requirement for a security deposit on the account opened at the Bank by the Point of Sale.

Ratio of the loan amount and collateral value
100%

Other conditions

  • The points of sale shall be on the list of points of sale cooperating with the Bank.
  • At the time of applying for the loan, the sum of the applicant’s age and the loan maturity term shall not exceed 70.

List of points of sale*

       "Bianchi"          "Es Kahuyq"         "Eldorado"