Renovation Mortgage Loans. Own resources

Renovation Mortgage Loans. Own resources

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

Currency
֏, $
Interest rate
Starting from 10%
Repayment term
Up to 240 months
Loan maximum amount
Up to 125,000,000 ֏

General

General
Tariffs
Documents
Renovation Mortgage Loans. Own resources

Renovation mortgage loans

Renovate your residential real estate with profitable mortgage loans provided by IDBank, directly financed with the Bank's own funds.
Get a loan in AMD or USD, starting from 10% annual nominal interest rate.

Advantages

Choice of currency
The loan is available in Armenian drams and US dollars
Fixed or floating interest rate
2 options of interest repayment are available
High limit
Maximum loan amount is 125 000 000 AMD
interest rate lower by 0.25%
In case of covering insurance costs

Choose a loan

AMD
USD
Loan ammount

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

I AMD
Loan term, months

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

60 months 120 months
Prepayment amount

You need to choose the preferred loan down payment from the scale below

0% 25% 50% 75% 100%
Payment type

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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Express provision
Loan approval takes up to 5 minutes
Online approval
You should apply online to get the limit without visiting the Bank and without any documentation
0 documenting
There is no need to submit any documents

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Express provision
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Choice of currency
The loan is available in Armenian drams and US dollars
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The interest rate is lower than the interest rate of consumer loans -13.96-14.50 % only in most cases.
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The amount you saved further due to energy saving systems may cover the significant part of the loan

Compare products

Renovation Mortgage Loans. Own resources
Renovation Mortgage Loans. Own resources
2 options of interest repayment are available
Maximum loan amount is 125 000 000 AMD
The loan is available in Armenian drams and US dollars
In case of covering insurance costs interest rate lower by 0.25%
For the purchase. Own resources
Renovation Mortgage Loans. National mortgage company
Rocket Line - In the amount of 10% of the mortgage loan
The loan is available in Armenian drams and US dollars
In case of joining IDsalary and IDsalary + packages interest rate lower by 0.25%
In case of covering insurance costs interest rate lower by 0.25%
Pay off in up to 240 months
Credit line - In the amount of up to 5 % of the mortgage loan
Annual nominal interest rate starts from 10.4 %
Pay off in up to 180 months
In case of covering insurance costs

Special offer

Rocket Line and Rocket Line 0%

Enjoy Rocket Line digital credit now, pay later, without a clear schedule. Rocket Line is a pre-approved limit - maximum 10,000,000 AMD, which you can use for non-cash payments. Your credit obligation will be in the amount used only, starting from the time you began to use the money. Rocket Line is available for Idram&IDBank Premium Plus users who have synchronized Idram and IDBank accounts. See your limit in IDBanking.am, Idram&IDBank application or Idram.am website. You can use Rocket Line 0% when making payment with hundreds of partners, without any interest rate or additional payment.

Renovation Mortgage Loans. Own resources - Special offers
Loan purpose
Renovation of real estate property
Loan currency
AMD / USD
Minimum loan amount
AMD 3,000,000 or equivalent in USD
Maximum loan amount
AMD 125,000,000 Up to USD 250,000
Minimum loan term
60 months
Maximum loan term
120 months
Nominal annual interest rate for AMD
Fixed(for the first 12 months): 11?5%-15?5% / Floating(from 13th to 120th months): IBRR+(1.4%-5.4%)
Nominal annual interest rate for USD
Fixed(for the first 12 months): 10%-13% / Floating(from 13th to 120th months): IBRR + (5.9%- 8.9%)
Effective annual interest rate
AMD 12.18% - 18.94% / USD 10.57% - 15.99%
Security (pledge)
1) Real estate property being renovated or 2) Real estate property being renovated and other real estate property (residential/public)
Maximum loan/collateral ratio
AMD 70% / USD 80%
Loan disbursement method
1. non-cash through current account, 2. one-time or by installments according to the decision of the Bank?s competent body
Method of loan and interest repayment
1. Annuity repayment method - Equal monthly repayments of the sum of loan principal and interest amount, in case of change of the annual nominal interest rate during the loan period, the method of repayment of the loan and interest amounts can be changed.
Loan application revision fee
Not specified
One-time loan disbursement fee
1%, minimum AMD 30,000, maximum AMD 150,000. The one-time loan disbursement fee is charged from the contractual loan amount
Bank account opening/closing
Opened in the loan currency according to the tariffs applied in the Bank. If the loan currency is other than AMD, an account in AMD shall also be opened.
Commission for encashment of loan amount and prepayment
Not specified
Pledger
the borrower and/or coborrower, or any physical or legal entity in case of other real estate property (other pledge)
Status of the borrower/coborrower
RA citizen physical entity
Age restriction
Borrower - physical entity over 21 years old whose age must not exceed 65 years by the loan maturity, Coborrower - a physical entity over 21 years old whose age must not exceed 65 years at the moment of loan disbursement (the age restriction requirement shall not be applied if based on the information submitted in the application form the financial state of the borrower (other coborrowers) is enough to repay the loan without the given coborrower (coborrowers).
General principle of borrower/coborrower?s creditworthiness assessment
Maximum total debt repayments to net incomes (OTI) ratio must not exceed: 55%
Incomes of the borrower/coborrower
1) Composition of primary incomes - according to Appendix 1, 2) Composition of secondary incomes - according to Appendix 1
Requirements to the borrower?s/coborrower?s credit history
1. Absence of credit history or 2. Absence of overdue liabilities towards the financial-banking system as of the date of acceptance of the loan application (in terms of loans, credit lines, overdrafts, provided guarantee etc.), and 3. Less than 30 total overdue days in terms of loan principal amount and/or interest repayments in terms of loans (credit line, overdraft, guarantee etc.) received within the 12 months preceding the loan application submission date.
FINES, PENALTIES
Penalty for overdue principal amount - 0.1% daily. Penalty for overdue interest amount - 0.1% daily. In case of early loan repayment: - 0.6% of early repaid amount for the 1st year of the loan agreement, - 0.4% of early repaid amount for the 2nd year of the loan agreement, - 0.2% of early repaid amount for the 3rd year of the loan agreement, - No early repayment penalty is charged after the 3rd year of the loan agreement. No early repayment penalty is charged for the amount which does not exceed the aggregate sum of principal amount repayments provided by the repayment schedule for the 12 months following the early repayment. In case of non-targeted use of the loan the Bank is entitled to demand: 1) early repayment of the whole loan amount, 2) penalty in the amount of 25% of the misused loan amount, 3) revision of loan interest rate according to the competent body if the Bank.
Insurance Performed by the Bank
Presented in Appendix 2
Requirements to the subject of pledge
Presented in Appendix 3
Place of acceptance of the application and documents
All branches of the Bank
Loan decision making and notification of the client
Up to 3 business days after submission of a complete package of documents required by the Bank
Loan disbursement term
Maximum 3 business days after submission of complete package of documents and registration of the right of pledge after the decision has been made
Validity of the loan decision
30 business days
Loan application revision fee
Not specified
One-time loan disbursement fee
Not specified
Pledge related costs
The pledge related costs incurred by the Bank for loans amounting to AMD 15,000,000 and more are as follows: - collateral appraisal fee (no appraisal is required if the given property is already pledged in the Bank and has been appraised within 12 months preceding the submission of the loan application, or 6 months preceding the submission of the loan application in case if the property is pledged in other banks/credit organizations, by appraisal companies cooperating with the Bank), - Fee for the unified reference provided by the state cadaster committee under the RA Government*, - Notarization fee for the real estate that is the subject of collateral - Fee for registration of the Bank?s right arising from the pledge agreement in the competent state body. *in case if the fees for the unified reference provided by the state cadaster committee under the RA Government and for registration of the Bank?s right arising from the pledge agreement in the competent state body are made through the ARPIS program applied in the Bank, no reference fee shall be charged. In case if the costs are incurred by the Bank the borrower shall reimburse to the Bank the costs incurred by the latter mentioned in this provision in case if the borrower completely repays the loan ahead of time within 24 months following the transfer.
List of documents to be submitted by the client
according to Appendix 4
Required documents
138.45 KB

Apply now

Starting from 10%
Up to 120 months repayment period

Code
+374 (Armenia)
+375 (Belarus)
+7 (Russia)
+32 (Belgium)
+1 (USA)
+1 (Canada)
+49 (Germany)
+86 (China)
+995 (Georgia)
+380 (Ukraine)
+33 (France)
+39 (Italy)
+34 (Spain)
+971 (UAE)
Branch
Vanadzor branch
"Echmiadzin” branch
Davtashen branch
Gyumri branch
IDBank Head Office
Abovyan branch
“Vardanants” branch
"Shengavit" branch
"Nor Nork" branch
"Malatia" branch
"Centre" branch
"Baghramyan" branch
"Arabkir" branch
"Erebuni" branch
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Information updated 01.04.2022 06:40
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