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.
Actual annual interest rate
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
One-time loan disbursement fee
Loan encashment fee
Monthly loan service fee
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.