Micro loans “Jerm Ojakh”

Micro loans “Jerm Ojakh”

Save your energy costs with the help of an affordable loan

Interest rate
Repayment term
Up to 84 months
Loan maximum amount
Up to 3,000,000 ֏


Micro loans “Jerm Ojakh”

Jerm Ojakh microloan

Renovate your real estate and improve housing conditions with “Jerm Ojakh” (Warm House) microcredit of up to 3,000,000 AMD.
A minimum of 40% of the loan proceeds should be used to purchase energy-efficient measures, materials/supplies for residential real estate, including up to 20% of the loan amount may be used to purchase energy-saving household appliances.


Improve your housing conditions

Further savings
The amount you saved further due to energy saving systems may cover the part of the loan
Long term maturity
Repay the loan during up to 84 months
Low interest rate
The interest rate is lower than the interest rate of consumer loans -13.5-14.73%

Choose a loan

Loan ammount

You need to choose the loan amount you prefer from the scale below.

Loan term, months

You need to choose the loan term that you prefer from the scale below.

60 months 84 months
Payment method

fixed monthly installments, where the monthly payment throughout the repayment period remains the same and consists of a portion of loan and a portion of interest.

This calculation is informative character and can be changed.

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0 documenting
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0% commission
The loan is provided without any commissions

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Long repayment period
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Renovate your real estate with an affordable mortgage loan financed with Bank's own funds

Fixed or floating interest rate
2 options of interest repayment are available
High limit
Maximum loan amount is 125 000 000 AMD/250 000 USD
Choice of currency
The loan is available in Armenian drams and US dollars

Special offer

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Micro loans “Jerm Ojakh” - Special offers
Loan purpose
Renovation of residential real estate property aimed at increasing energy efficiency, Moreover, at least 40% of the loan means must be directed towards measures and materials/accessories for increasing energy efficiency of the residential real estate property, while up to 20% of the loan amount can be directed towards purchase of energy-saving household appliances.
Loan currency
Annual interest rate
Actual annual interest rate
Minimum term
60 months
Maximum term
84 months
Minimum amount
AMD 275,000
Maximum amount
AMD 3,000,000
Guarantee of a physical entity may be required
Requirements for the real estate property to be renovated
1․ The real estate property to be renovated can be an apartment in a multi-apartment complex, a house in a rural or community area on the territory of the RA, except for the “Kentron” administrative district of Yerevan city, 2․ The real estate property to be renovated must be owned by the borrower or his/her family member , 3․ As of the date of acceptance of the loan application the real estate property to be renovated must not be pledged/under seizure, except for cases, when the real estate property is pledged in the Bank.
Loan application revision fee
Not defined
One-time loan disbursement fee
Not defined
Loan encashment fee
Not defined
Monthly loan service fee
Not defined
Grace period for repayment of the principal loan amount
6-12 months. With monthly interest repayment
In case of more than 40% share of the energy-efficient measures in the total investments, the available grant amounts to 5% of the loan amount and is directed towards repayment of the principal loan amount. The energy-efficiency evaluation is implemented online with the help of energy-saving calculation tool in order to determine grant eligibility and amount. Following are the preconditions for provision of a grant: - All the measures implemented must be at least grounded by payment verification documents. - If the client has also performed renovation of property besides purchase of energy-efficient materials/accessories, it is necessary to provide the initial and final photo and/or video materials of the renovation works.
Repayment of the principal loan amount and interest amounts
Repayment of interest amounts during the grace period of repayment of the principal loan amount – monthly, repayment of the loan and interest amounts by the end of the grace period – equal monthly payments (annuity).
Loan disbursement method
One-time, non-cash through the clients’ bank account opened with the Bank
Opening/closure of bank account
According to the tariffs applied in the Bank presented at the following link: Information bulletin on tariffs.
Status of the borrower/co-borrower/guarantor
RA citizen physical entity
Age limit
- Borrower/co-borrower – physical entity over 21 years of age whose age must not exceed 65 years by the maturity term of the loan, - Guarantor – physical entity over 21 years of age whose age must not exceed 65 years at the moment of provision of the loan.
General principles of borrower’s/guarantor’s creditworthiness assessment
Maximum ratio of total debt payments and net incomes (OTI) must not exceed 45%, Renewable credit lines are included in the OTI calculation in the amount of monthly repayment of the loan in an annuity repayment method for a term of 60 months.
Borrower’s/Guarantor’s incomes
The Borrower and/or the co-borrower must have a primary income. The Guarantor must have a primary and a secondary income. Primary income is the salary or equivalent payments received throughout the main working hours based on the professional skills and abilities of the client which are considered in the amount of 100%. The list of types of secondary income is presented in Appendix 1.1.
Requirements of the credit history of the borrower/guarantor
1. Absence of credit history or 2. Absence of overdue loan labilities to the banking system as of the day of submission of the loan application (in terms of loans, credit lines, overdrafts, provided guarantees etc.) and 3․ not more than a total of 3o days of delay in terms of principal amount and/or interest repayments of loans (credit lines, overdrafts, provided guarantees etc.) within 12 months prior to the day of submission of the loan application 4․ the borrower/guarantor can have only one active loan at the same time (housing micro loan or energy-efficiency renovation loan) and in the meantime there must be only one active loan for the purpose of renovation of one real estate property (housing micro loan or energy-efficiency renovation loan).
Fines, penalties
Fine for overdue principal loan amount – 0.1% a day. Fine for overdue interest amount – 0.1% a day. In case of non-targeted use of the loan the Bank is entitled to demand: 1) early repayment of the whole lone amount, 2) penalty in the amount of 25% of the improperly used loan amount, 3) revision of loan interest rate according to the decision of the competent body of the Bank.
Location of acceptance of the loan application, processing and provision of the loan
All branches of the Bank
Positive factors for loan provision
1) good credit history, 2) cash flows
Loan rejection factors
1) bad credit history, 2) such information about the client which calls into question the information provided/declared to the Bank by the client, 3) such information about the client which calls into question the repayment of the loan, 4) insufficient cash flow level, 5) absence of email address of the client 6) other basis
Maximum decision-making term
Maximum 3 business days after submission of all the required documents to the Bank
Notification deadline for the decision
Maximum 3 business day after decision has been made.
Maximum decision validity term
30 business days.

Tariff archive

Tariffs valid from 14.11.22-06.02.23
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Tariffs valid from 05.10.20-22.11.21
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Required documents
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