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Rocket Line
Get or increase your limit without visiting the bank
There is no need to submit any documents or conclude an agreement
The loan is provided without any commissions
Rocket loans/credit lines
Fast Credit Lines
Rocket online loan
Credit Lines
The loan is being approved within a few minutes
The loan is available in Armenian drams and US dollars
The loan is provided without any commissions
Loan approval takes up to 5 minutes if you apply online
Use the amount without paying interest before the 15th day of the following month
The loan is provided without any commissions
Loan approval takes up to 5 minutes
You should apply online to get the limit without visiting the Bank and without any documentation
There is no need to submit any documents
The loan is provided without any commissions
Use the amount free of interest up to the 15th day of the following month.
Maximum loan amount is 10 000 000 AMD
Interest rate is lower than for the other credit lines - 15-16 % only
The loan is provided without any commissions
Special offer
Rocket Loan
Get a loan of up to 5 million AMD at a rocket speed, without any commission and income proof document. Apply with Idram&IDBank application or IDBanking.am platform, and get the loan directly in the application within 5 minutes. Download the Idram&IDBank app in the App Store or Google Play Store at https://idram.app.link/idram
Type of loan
Credit
Purpose
Consumer, for making non-cash payment
Currency
AMD
Minimum limit amount
10,000
Maximum limit amount
10,000,000
Minimum loan amount provided within the limit
3,000
Maximum loan amount provided within the limit
10,000,000
Annual nominal interest rate
0% - 21.7%
Annual actual interest rate
0% - 23.81%
Minimum loan maturity
1 months
Maximum loan maturity
6 months
Method of disbursement
Non-cash – through the customer’s current account: 1. Online platforms of «IDBanking» and «Idram Internet Payment System», 2. «Idram Mobile Wallet» application
Loan and interest repayment method
At the maturity
Loan application review fee
Not specified
Loan disbursement lump up fee
Not specified
Loan account service fee
Not specified
Opening of current account
Not specified
Insurance
Not specified
Status
RA citizen physical person
Age eligibility
The borrower/guarantor should be 21 at least as of the date of application, and maximum 70 by the maturity date
Overdue loans, per day
0.1%
Overdue interest, per day
0.1%
Early repayment fee
Not specified
Grounds, on which the Bank may require early repayment of the loan
The Bank may require early repayment of the loan, if: 1) information presented for the loan is false or inaccurate, 2) obligations provided by the agreement failed to be performed, 3) other grounds, according to the agreement
Positive factors for provision of the loan
1) Good credit history, 2) Good Score, 3) enough cash flow
Rejection factors
1) Bad credit history, 2) Bad score, 3) insufficient cash flows 4) providing false or unreliable information, 5) providing information that doubts the return of the loan, 6) other factors
Maximum decision-making term
5 minutes
Customer notification maximum term (on the decision made with respect to the loan)
5 minutes
Venue where applications are accepted, processed and loan is provided
1. «IDBanking» online platform - idbanking.am and, 2. «Idram Mobile Wallet» mobile application, 3. «Idram Internet Payment System»
Maximum validity term of decision
5 minutes
Rocket Line operates in more than 6,500 outlets, and in a number of outlets there is also the opportunity to make Rocket Line purchases at 0%. You can buy any goods with Rocket line, pay in 3 or 6 months, depending on the terms of the given trade and service point.
You can buy any goods with Rocket line, pay in 1, 2, 3 or 6 months, depending on the terms of the given trade and service point. There are no commissions and hidden fees for Rocket Line 0%, you only pay just for what you bought and nothing ahead. Rocket Line 0% also allows you to reduce your real estate secured loan interest rate by up to 2 percentage points, if you use it in the amount stipulated in the contract signed with you.
Rocket Line limit is provided if you are an Idram&IDBank application Premium Plus user and a customer of IDBank. In that case, the Bank can set a minimum limit for you, starting from 10,000 AMD. Moreover, the credit history of the customer is not verified, there is no need to apply to the Bank either. The limit will appear automatically on the first page of your Idram&IDBank application. You can use the limit as needed; no interest shall accrue on the unused amount.
The limit of the Rocket line is from 10,000 to 10 million AMD, depending on the customer’s loyalty and credit history. In order to increase the limit, the customer can apply to the Bank from Idram&IDBank application or IDBanking.am online platform, give ACRA consent, and according to his credit score the Bank will either provide a higher limit, leave the limit unchanged, or refuse to provide the limit.
First, you need to activate the corresponding function by clicking on the “Use limit when paying” button. Payment with Rocket Line can be made in case the amount to be paid is 3000 AMD and more. The limit can be used by choosing its repayment period from 1 to 6 months.
Yes, the opportunity of making payments from the limit can be turned off or on by clicking on the green line of the Rocket Line limit on the first page of the Idram&IDBank application, using the “Use limit when paying” button.
Information about the used limit can be found in the “Banking” section of the Idram&IDBank application, under Rocket Line loans or simply by clicking on the green line of the Rocket Line limit on the first page of the Idram& IDBank application.
Used limits can be repaid during the time period of 1, 2, 3 or 6 months as chosen by you, by making payment at any time convenient for you. The Rocket Line limit differs from ordinary loans in the absence of a mandatory payment schedule.
Yes, it is; just in addition to the principal amount you need to pay the interest accrued as of the settlement date, and in case of prepaid interest, the Bank will return it to the customer’s bank account at the end of the operational day.
The interest rate is 23.98%, which may seem high at first glance; but quite high commissions and service fees are charged for similar loans with lower interest rates on the market, while we do not have any hidden payment, everything is clear and transparent. This is the actual interest rate.
Yes, the limit can be reset if the customer violates the payment terms, does not fulfil its other loan obligations to the Bank, appears in the black list, etc.
Yes, the limit can be renewed once you have used the limit or part of it, and made payments within the period of your choice.
You can pay for more than 350 integrated services in the Idram&IDBank application, as well as when making QR or NFC payments at more than 6,500 outlets with Idram partners.
Rocket Line limit is provided to Idram Premium plus customers. However, in order to use it, it is necessary to become a customer of the Bank, to go through identification, to synchronize the accounts.
No, the limit is provided when you are a customer of both Idram and IDBank, i.e. you are a user of a joint platform of the two companies. You do not need to visit the Bank to become a customer of the Bank. From the Idram&IDBank application you can directly pass remote identification, become a customer of the Bank and use the Rocket line limit and all other services and benefits of the platform.
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