Profi

Borrower

Individual customers who receive or intend to receive their salary within a maximum of one month after the issuance of the card in the Bank, regardless of the existence of a cooperation agreement with the organization and the type of organization.

Loan type

Loan, Credit line

Minimum limit

300,000 AMD

Maximum limit/amount

Loan: Fifteen times of the net salary, AMD 10,000,000 maximum / Credit Line: Ten times of the net salary, AMD 10,000,000 maximum

Annual nominal interest rate

Loan: 14-20%

Credit Line: 15-20%

Actual annual interest rate

Loan: 15.1% -21.94%

Credit Line: 16.02% - 21.96%

Minimum period

12 months

Maximum period

Loan: 120 months / Credit Line: 60 months

Mode of loan providing

Loan: Non-cash via current account or payment card / Credit Line: Non-cash via payment card

Loan repayment method:

Annuity in equal parts per month

Credit line monthly minimum repayment amount:

Not defined

Credit line repayment grace period:

Up to 55 days.

No interest is accrued on the used non-cash credit line amounts during the previous month (except for card-to-card transfers, intra-bank and interbank transfers in the territory of the Republic of Armenia and through own accounts), in case the customer repays the used part of the credit line by the 25th day of the current month

Interest rate accrued on the unused part of the credit line:

0%

Security

Cash flow

Insurance

Optional. For loans of up to AMD 2,500,000, accident insurance may be provided at the borrower’s request for a term of one year. The remaining terms and conditions shall be in accordance with the terms of cooperation with REGO ICJSC.

Insurance premium - 10% of the loan amount available to the client under the option without accident insurance, which is included in the loan amount and transferred to the relevant account of the insurance company.

Loan application review fee

Not defined

Loan/credit line providing and monthly service fees

Not defined

Account opening fee:

According to the tariffs of the Bank, with the following link: Tariffs

Daily penalty amounts for overdue loan liabilities (including interest amounts)

0.1%

Early repayment penalty

Not defined

Status

An individual, RA resident

Age restriction

The age of the borrower as of the date of loan application should not be less than 19 years, and should not exceed 70 years by the loan repayment final date.

For clients under the age of 21 years or over 65 years, the maximum loan limit is set at twice the net salary, but not exceeding AMD 1,000,000. The interest rate is determined as the Bank’s effective rate at the time plus 2 percentage points /as per Tables 1 and 2/

Credit history requirement (positive credit history)

a) As of the filing date of the loan application, the borrower should not have overdue/classified liabilities (loan, credit line, overdraft, guarantee, etc.),

b) the total number of days for overdue liabilities of the borrower during the year preceding the day of receipt of the application (365 days) shall not exceed 30 days, or

c) the total number of days for overdue liabilities of the borrower during the 5 years (60 months) preceding the day of receipt of the application should not exceed 120 days.

This restriction is not applicable for customers who after repaying overdue obligations have serviced all loans in accordance with clause “b”, provided that at least one of the loans has been serviced for a minimum period of 12 months.
d) Lack of credit history
e) the customer must not be included in the list of unwanted customers of the Bank

Positive factors for providing the credit/credit line

1) Positive credit history,

2) cash flows

Credit line rejection factors

1) Negative credit history,

2) Information about the customer that casts doubt on the information provided/announced by the customer to the Bank,

3) Customer information that casts doubt on loan repayment,

4) Insufficient level of cash flow,

5) Absence of customer's e-mail,

6) Other factors.

Maximum decision-making time:

Maximum 1 business day after submitting all the required documents to the Bank

Deadline for notification of the decision

Maximum 1 business day after the decision is made.

The Bank may inform the customer about the decision on providing the loan in the Bank's premises or by phone or by e-mail message.

Maximum validity period of the decision

15 business days.

In accordance with the grounds mentioned in paragraph 25 of these Terms, the Bank is entitled not to provide the approved loan during the validity of its decision.

Term of loan disbursement to the borrower

On the day the credit line agreement is signed

Place of receiving, applying for and providing a loan application:

All branches of the bank

1

Reference on the client's salary and/or employment agreement and/or bank account statement (if necessary) and/or information received from Nork Social Services Technology և Information. The customer must have at least 3 month of work history.

2

Client's email address

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.

1

ATTENTION: INTEREST PAYMENTS ARE CALCULATED BASED ON THE NOMINAL INTEREST RATE. THE ANNUAL EFFECTIVE PERCENTAGE RATE INDICATES THE TOTAL COST OF THE LOAN TO YOU, INCLUDING INTEREST PAYMENTS AND ALL MANDATORY FEES RELATED TO THE ISSUANCE AND SERVICING OF THE LOAN, PROVIDED THAT ALL PAYMENTS ARE MADE IN THE AMOUNTS AND WITHIN THE TIMEFRAMES SPECIFIED IN THE LOAN AGREEMENT.

2

THE PROCEDURE FOR CALCULATING THE ANNUAL EFFECTIVE PERCENTAGE RATE IS PRESENTED WITH THIS LINK.

3

The Bank has the right to unilaterally amend the material terms of the loan, including the loan interest rate, or to require early partial or full repayment։ RULES FOR LENDING UNDER MASTER LOAN AGREEMENT CONCLUDED WITH “ID BANK” CJSC

4

A POOR CREDIT HISTORY MAY HINDER THE CUSTOMER’S ABILITY TO OBTAIN A LOAN IN THE FUTURE.

5

IN THE EVENT OF OVERDUE OBLIGATIONS, REPAYMENTS SHALL BE APPLIED IN THE FOLLOWING ORDER: EXPENSES INCURRED FOR DEBT RECOVERY, INCLUDING COURT COSTS (IF ANY), PENALTIES ON INTEREST, PENALTIES ON THE LOAN PRINCIPAL, INTEREST, SERVICE FEES AND COMMISSIONS (IF ANY), AND THE LOAN PRINCIPAL. THE BANK RESERVES THE RIGHT TO UNILATERALLY CHANGE THE ORDER OF REPAYMENT SPECIFIED IN THIS CLAUSE AT ANY TIME.

6

Disputes arising between the parties may be resolved through the courts or through the Financial System Mediator (in accordance with the procedure established by the RA Law on the Financial System Mediator), address: 15 M. Khorenatsi Street, Elite Plaza Business Center, 7th Floor, Yerevan 0010, Republic of Armenia, e-mail: [email protected], telephone: (+37460) 70-11-11, fax: (+37410) 58 24 21. Furthermore, if the amount of the property claim does not exceed AMD 250,000 (two hundred fifty thousand) or its equivalent in foreign currency, the decisions of the Financial System Mediator may not be challenged by the Bank.

7

The Bank may, for the purposes of customer due diligence as required by the RA Law on Combating Money Laundering and Terrorist Financing, request additional documents or information based on the “Know Your Customer” (KYC) principle.

8

Pursuant to the agreement concluded with the United States under the Foreign Account Tax Compliance Act (FATCA), the Bank may collect additional information to determine whether the customer is a U.S. taxpayer, as well as to provide the State Revenue Committee of the Republic of Armenia with information on customers who are foreign tax residents in accordance with the Common Reporting Standard (CRS) of the Organisation for Economic Co-operation and Development (OECD), as prescribed by the RA Tax Code.

9

THE BORROWER HAS THE RIGHT TO COMMUNICATE WITH THE BANK THROUGH THE METHOD OF THEIR CHOICE, EITHER BY POSTAL MAIL OR ELECTRONIC MEANS. RECEIVING INFORMATION ELECTRONICALLY IS THE MOST CONVENIENT OPTION. IT IS AVAILABLE 24/7, ELIMINATES THE RISK OF LOSING PAPER DOCUMENTS, AND ENSURES CONFIDENTIALITY.

10

DURING THE TERM OF THE LOAN AGREEMENT, INFORMATION ON THE TERMS FOR THE PROVISION OF STATEMENTS, DUPLICATE STATEMENTS, AND CERTIFICATES IS AVAILABLE AT THE FOLLOWING LINK: Tariff։

11

The list of the Bank’s branches and ATMs, as well as their addresses and business hours, is available at the following link: Branches and ATMs:

12

ATTENTION: WHEN APPLYING FOR A LOAN, THE LENDER WILL PROVIDE YOU WITH AN INDIVIDUAL SHEET OF THE ESSENTIAL TERMS OF THE CONSUMER LOAN, WHICH WILL PRESENT THE INDIVIDUAL TERMS OF THE LOAN TO BE PROVIDED TO YOU.

13

Changes in foreign exchange rates may affect the loan repayments.