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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
Rocket online loan
Credit Lines
The loan is being approved within a few minutes
You apply online to get the limit without visiting the bank and without paperwork
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
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% - 24%
Minimum loan maturity
1 month
Maximum loan maturity*
60 months
*
Maximum loan term for non-cash payments of up to AMD 30,000 is 6 months, for payments between AMD 30,000 and AMD 100,000 is 36 months, and for payments over AMD 100,000 is 60 months. The client is eligible to acquire loans for the terms 1, 2, 3, 6, 9, 12, 15, 18, 21, 24, 27, 30, 33, 36, 39, 42, 45, 48, 51, 54, 57 and 60 months.
For loans with terms of up to 6 months inclusive, repayment is completed at the end of the loan term, for loans with terms of 9 to 60 months, an annuity repayment system is established.
For loans with terms of up to 6 months inclusive, repayment is completed at the end of the loan term, for loans with terms of 9 to 60 months, an annuity repayment system is established.
Method of disbursement
Non-cash – through the customer’s current account: 1. Online platforms of «IDBanking» and «Idram Internet Payment System», 2. «Idram&IDBank» application
Loan and interest repayment method
At the maturity/Annuity/With an interest-free grace period – During the grace period, no interest is accrued, only equal principal loan repayments are made. After the grace period, repayments of the principal loan amount and interest amount are made using the annuity repayment method
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
Requirements to the borrower
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
Fine, penalty
Overdue loans, per day-0.1%
Overdue interest, 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
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
2) Good Score,
3) enough cash flow
Rejection factors
1. Non-compliance with the terms of the loan
2. Negative credit history of the customer
3. Negative credit history of a person related to the customer
4. Insufficient income
5. Insufficient level of creditworthiness
6.The customer must not be included in the list of unwanted customers of the Bank
7. Providing false or unreliable information
8. Availability of information questioning the returnability of the loan
9. Lack of Customer Email
10. Other grounds
2. Negative credit history of the customer
3. Negative credit history of a person related to the customer
4. Insufficient income
5. Insufficient level of creditworthiness
6.The customer must not be included in the list of unwanted customers of the Bank
7. Providing false or unreliable information
8. Availability of information questioning the returnability of the loan
9. Lack of Customer Email
10. Other grounds
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
• IDBanking.am online platform
• Idram&IDBank mobile application
• Idram Internet Payment System
• Idram&IDBank mobile application
• Idram Internet Payment System
Maximum validity term of decision
1 working day
Type of loan
Credit
Purpose
Consumer loan for combining “Rocket Line” loans
Currency
AMD
Minimum limit amount
Not applicable
Maximum limit amount
10,000,000
Minimum loan amount provided within the limit
30,000
Maximum loan amount provided within the limit
10,000,000
Annual nominal interest rate
21․5 - 21.7%
Annual actual interest rate
23.7% - 24%
Minimum loan maturity
9 months
Maximum loan maturity
60 months
Method of disbursement
Non-cash – through the customer’s current account: 1. Online platforms of «IDBanking» and «Idram Internet Payment System»,
2. «Idram&IDBank» application
2. «Idram&IDBank» application
Loan and interest repayment method
Annuity
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
Requirements to the borrower
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
Fine, penalty
Overdue loans, per day-0.1%
Overdue interest, 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
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
2) Good Score,
3) enough cash flow
Rejection factors
1. Non-compliance with the terms of the loan
2. Negative credit history of the customer
3. Negative credit history of a person related to the customer
4. Insufficient income
5. Insufficient level of creditworthiness
6.The customer must not be included in the list of unwanted customers of the Bank
7. Providing false or unreliable information
8. Availability of information questioning the returnability of the loan
9. Lack of Customer Email
10. Other grounds
2. Negative credit history of the customer
3. Negative credit history of a person related to the customer
4. Insufficient income
5. Insufficient level of creditworthiness
6.The customer must not be included in the list of unwanted customers of the Bank
7. Providing false or unreliable information
8. Availability of information questioning the returnability of the loan
9. Lack of Customer Email
10. Other grounds
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
• IDBanking.am online platform
• Idram&IDBank mobile application
• Idram Internet Payment System
• Idram&IDBank mobile application
• Idram Internet Payment System
Maximum validity term of decision
1 working day
Prerequisites for the use of a combination loan
Number of existing "Rocket Line" loans subject to combination/ deferment of repayment (when performing one transaction)/-from 2 to 20 loans
Minimum aggregate balance of loan(s) to be consolidated/combined/deferred (principal amount + interest)-30.000
Requirements for loans subject to combination/payment deferment • Loans issued under the condition of payback "at the end of the term",
• Loans issued for up to 12 months and with annuity repayment
One-time fee established for the use of the type of loan-2% (maximum AMD 100,000)
Absence of any outstanding loan obligations as of the date of combination/deferment of payment
Absence of any bans imposed by CESA.
Absence of classified loan liabilities (assets) in commercial banks and credit organizations.
*-The condition of collecting a one-time fee for the utilization of the combination/deferment of repayment opportunity is effective as of 08.09.2024. The fee is calculated based on the minimum aggregate balance of the loan(s) to be combined/deferred.
Minimum aggregate balance of loan(s) to be consolidated/combined/deferred (principal amount + interest)-30.000
Requirements for loans subject to combination/payment deferment • Loans issued under the condition of payback "at the end of the term",
• Loans issued for up to 12 months and with annuity repayment
One-time fee established for the use of the type of loan-2% (maximum AMD 100,000)
Absence of any outstanding loan obligations as of the date of combination/deferment of payment
Absence of any bans imposed by CESA.
Absence of classified loan liabilities (assets) in commercial banks and credit organizations.
*-The condition of collecting a one-time fee for the utilization of the combination/deferment of repayment opportunity is effective as of 08.09.2024. The fee is calculated based on the minimum aggregate balance of the loan(s) to be combined/deferred.
Type of loan
Credit
Purpose
Consumer loan for deferment of repayment of “Rocket Line” loans
Currency
AMD
Minimum limit amount
Not applicable
Maximum limit amount
10,000,000
Minimum loan amount provided within the limit
30,000
Maximum loan amount provided within the limit
10,000,000
Annual nominal interest rate
21․5 - 21.7%
Annual actual interest rate
23.7% - 24%
Minimum loan maturity
9 months
Maximum loan maturity
60 months
Method of disbursement
Non-cash – through the customer’s current account: 1. Online platforms of «IDBanking» and «Idram Internet Payment System»,
2. «Idram&IDBank» application
2. «Idram&IDBank» application
Loan and interest repayment method
Annuity
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
Requirements to the borrower
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
Fine, penalty
Overdue loans, per day-0.1%
Overdue interest, 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
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
2) Good Score,
3) enough cash flow
Rejection factors
1. Non-compliance with the terms of the loan
2. Negative credit history of the customer
3. Negative credit history of a person related to the customer
4. Insufficient income
5. Insufficient level of creditworthiness
6.The customer must not be included in the list of unwanted customers of the Bank
7. Providing false or unreliable information
8. Availability of information questioning the returnability of the loan
9. Lack of Customer Email
10. Other grounds
2. Negative credit history of the customer
3. Negative credit history of a person related to the customer
4. Insufficient income
5. Insufficient level of creditworthiness
6.The customer must not be included in the list of unwanted customers of the Bank
7. Providing false or unreliable information
8. Availability of information questioning the returnability of the loan
9. Lack of Customer Email
10. Other grounds
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
• IDBanking.am online platform
• Idram&IDBank mobile application
• Idram Internet Payment System
• Idram&IDBank mobile application
• Idram Internet Payment System
Maximum validity term of decision
1 working day
Prerequisites for the use of a loan for deferment of repayment
Number of existing "Rocket Line" loans subject to combination/ deferment of repayment (when performing one transaction)/- 1 loan
Minimum aggregate balance of loan(s) to be consolidated/combined/deferred (principal amount + interest)-30.000
Requirements for loans subject to combination/payment deferment • Loans issued under the condition of payback "at the end of the term",
• Loans issued for up to 12 months and with annuity repayment
One-time fee established for the use of the type of loan-2% (maximum AMD 100,000)
Absence of any outstanding loan obligations as of the date of combination/deferment of payment
Absence of any bans imposed by CESA.
Absence of classified loan liabilities (assets) in commercial banks and credit organizations.
*-The condition of collecting a one-time fee for the utilization of the combination/deferment of repayment opportunity is effective as of 08.09.2024. The fee is calculated based on the minimum aggregate balance of the loan(s) to be combined/deferred.
Minimum aggregate balance of loan(s) to be consolidated/combined/deferred (principal amount + interest)-30.000
Requirements for loans subject to combination/payment deferment • Loans issued under the condition of payback "at the end of the term",
• Loans issued for up to 12 months and with annuity repayment
One-time fee established for the use of the type of loan-2% (maximum AMD 100,000)
Absence of any outstanding loan obligations as of the date of combination/deferment of payment
Absence of any bans imposed by CESA.
Absence of classified loan liabilities (assets) in commercial banks and credit organizations.
*-The condition of collecting a one-time fee for the utilization of the combination/deferment of repayment opportunity is effective as of 08.09.2024. The fee is calculated based on the minimum aggregate balance of the loan(s) to be combined/deferred.
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.
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
WARNING: YOUR PROPERTY (HOME, VEHICLE, OR OTHER ASSETS) MAY BE SEIZED IN ACCORDANCE WITH THE LAW IF YOU FAIL TO MAKE TIMELY PAYMENTS OF INTEREST AND REPAY THE LOAN AMOUNT.
“Rocket line” loan/credit limit and combination/deferment of repayment of “Rocket line” loans information bulletin Rocket Line operates in more than 8,500 outlets, and in a number of points there is also an opportunity to make purchases with Rocket Line 0%. With Rocket line,
you can buy any product, paying after 1 to 60 months, depending on the terms of
the trade and service point.
With Rocket Line 0%, there are no commissions or hidden fees, you only pay the amount of the product and not a penny more. Rocket Line 0% also allows you to reduce the interest rate on your real estate mortgage loan by up to 2 percentage if you use it in the amounts mentioned 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.
Before using, it is necessary to enable the corresponding function by clicking on the “Use the limit when paying” button. Payment can be made with Rocket Line if the amount to be paid is AMD 3000 or more. The limit can be used by choosing its repayment period from 1-60 months depending on the amount.
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 1-36 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.
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 450 integrated services in the Idram&IDBank application, as well as when making QR or NFC payments at more than 20,000 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.
• Rocket line can be formed for at least 1, 2, 3 months, and the maximum terms are defined depending on the amount of Rocket Line.
• In case of non-cash payments up to AMD 30 000, the maximum term of the loan is 6 months, in case of payments from AMD 30 000 to AMD 100 000 - 36 months, with a period of 9 to 36 months (9, 12, 15, 18, 21, 24, 27, 30, 33, 36 months) in case of receiving Rocket Line, the client will make the payments by annuity option.
• In case of payments over AMD 100 000, the maximum term is 60 months, with a term of 9 to 60 months (1, 2, 3, 6, 9, 12, 15, 18, 21, 24, 27, 30, 33, 36, 39, 42, 45, 48, 51, 54, 57, 60 months) in case of receiving Rocket Line, the client will make the payments by annuity option.
• In the case of loans with a term of up to 6 months inclusive, the loan is repaid at the end of the term, and for loans with a term of 9 to 60 months, an annuity repayment method is defined.
• In case of non-cash payments up to AMD 30 000, the maximum term of the loan is 6 months, in case of payments from AMD 30 000 to AMD 100 000 - 36 months, with a period of 9 to 36 months (9, 12, 15, 18, 21, 24, 27, 30, 33, 36 months) in case of receiving Rocket Line, the client will make the payments by annuity option.
• In case of payments over AMD 100 000, the maximum term is 60 months, with a term of 9 to 60 months (1, 2, 3, 6, 9, 12, 15, 18, 21, 24, 27, 30, 33, 36, 39, 42, 45, 48, 51, 54, 57, 60 months) in case of receiving Rocket Line, the client will make the payments by annuity option.
• In the case of loans with a term of up to 6 months inclusive, the loan is repaid at the end of the term, and for loans with a term of 9 to 60 months, an annuity repayment method is defined.
No, the term is specified at the issuance stage and cannot be changed later.
In the case of partners with the possibility of Rocket line 0%, the interest rate changes, and in other points it is 21.7% for all terms.
When paying with the annuity option, the client will make equal repayments.
The interest rate of digital installment is different for merchants, depending on whether the Rocket Line merchant offers 0% and for what period.
Yes, the repayment schedule is provided along with the digital installment agreement.
The client can combine/delay Rocket Line and Rocket Line 0% (on non-annuity terms), but the new annuity loan will be formulated at the Bank's standard interest rate. Before the merge/delay operation, the client receives a notification.
If the aggregate balance (principal balance + interest) of the consolidating/deferred loans exceeds the client’s existing limit, the customer is informed that it is necessary to modify the list of loans by removing one or more loans from the list in order to continue the process.
After credit consolidation, the client's Rocket Line limit will be changed accordingly.
A target account is opened for the client when performing a first-time pooling/deferral. It is a bank account with certain restrictions, which are described in the account opening offer. The account is opened for consolidation/payment deferment loan.
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