Credit Lines

Type of loan

Credit line

Purpose

Other

Currency

AMD / USD / EUR

Minimum/maximum limit of the credit line

4 X net income:MasterCard Standard 200,000 - 1,500,000 AMD, 500 - 2,500 USD/EUR / MasterCard Gold 1,500,001-3,000,000 AMD, 2,501-5,000 USD/EUR / Visa Platinum, Visa Infinite 3,000,001 - 5,000,000 AMD, 5,001 - 8,000 USD/EUR

Annual nominal interest rate

AMD: 20%(MasterCard Standard), 20%(MasterCard Gold), 19%(Visa Platinum, Visa Infinite) / USD 18%(MasterCard Standard), 18%(MasterCard Gold), 17%(Visa Platinum, Visa Infinite) / EUR 16%(MasterCard Standard), 16%(MasterCard Gold), 15%(Visa Platinum, Visa Infinite)

Annual actual interest rate

AMD: 21.86% - 23.85%(MasterCard Standard), 22.04%-22.72%(MasterCard Gold), 21.22% -22.39%(Visa Platinum, Visa Infinite) / USD 19.62% -20.99%(MasterCard Standard), 19.81-20.49%(MasterCard Gold), 18.86% - 20.08%(Visa Platinum, Visa Infinite) / EUR 17.33% - 18.38%(MasterCard Standard), 17.59%-17.98%(MasterCard Gold), 16.55% - 17.81%(Visa Platinum, Visa Infinite)

Interest against unused part of funds

Not specified

Minimum term

12 months

Maximum term

60 months

Method of provision

Non-cash through payment card

Minimum monthly repayment amount

5%

Grace period

Up to 45 days. No interest will be calculated with regard to the part of the credit line used during the preceding month in non-cash method (other than card to card transfer, interbank and intrabank transfers within RA and among own accounts), if the customer repays the due amount before the 15th day of the current month

Method or repayment of the credit line and interest amounts

Monthly mandatory entries to the card account to be done before the 15th of the current month in the aggregate amount of interest given in point 11 hereof accrued to the sum used by the last day of the previous month and the accrued interest amount

TDI ratio (total debt (average monthly) to net income ratio)

45% - 55%

Security

Cash flows

Extension of credit line

1) The term of credit line can be extended by the Bank, according to the lending conditions as provided by the information bulletin of the current credit type, acting in the Bank as of the day of loan term extension, according to the Bank’s internal assessment. 2) The credit line of the client can be extended as a loan, by setting an equal repayment regime (annuity), according to the Bank’s internal assessment.

Status

RA citizen physical person

Eligible age

As of the date of application the borrower/guarantor must be at least 21, and maximum 65 by the maturity

Requirements to the credit history (good credit history)

1. no existing overdue /classified liabilities (loan, credit line, overdraft etc.) 2. the total days on overdue loans of the borrower throughout the year preceding the date of application (365 days) must not exceed 30 days, or 3. No credit history 4. The customer should not be included in the list of unwanted customers of the bank.

Requirements to the borrower’s income

The structure of income and its share are defined by Annex 1 hereto

Loan application processing fee

Not specified

Upfront fee

Not specified

Credit line monthly service fee

Not specified

Type of payment card

According to tariffs applicable for each type of card, available at Information bulletin of cards

Security

Not specified

On overdue credit line amount, daily

0.1%

On overdue interest, daily

0.1%

Early repayment fee

Not specified

Grounds on which early repayment of credit line may be required

1) The Bank may claim early repayment if: 2) The customer withholds from the payment card, 3) Information provided for the credit line is inaccurate or untrue, 4) Other grounds, according to the agreement

Positive factors for provision of the loan

5) compliance of the credit history with the terms of crediting, 6) Good solvency appraisal 7) enough cash flows

Why the credit line may be rejected

1) Bad credit history, 2) such information on the borrower, which rise suspicion to information provided/declared by the customer to the Bank 3) such information on the borrower, which rise suspicion to return of the loan, 4) insufficient level of cash flows 5) absence of email address of the client 6) other grounds

Maximum term for decision-making

Maximum 2 business days after submitting all necessary documents to the Bank

Maximum terms for giving notice to the customer

Maximum 1 business day after making decision. The borrower may be notified of the loan decision in the Bank’s premises, by phone call or e-mail

Maximum validity period

15 business days. The Bank has the right not to provide the approved loan during the validity term of the decision on the grounds specified in point 24 hereof

Term of providing the loan amount to the borrower

Date of signing the credit line agreement

Place of acceptance, registration and providing the loan application

All branches of the Bank

Documents to be submitted to the Bank by the Borrower

According to Annex 3

Information regarding credit history and credit score

You can learn about the importance of credit history and credit score here․

Details via abcfinance.am and acra.am links.