Energy-efficient renovation mortgage loans` with state subsidy
Renovate your real estate with profitable mortgage loans provided by IDBank.
Take advantage of the mortgage provided within the framework of Energy Efficient Renovation Mortgages, with an effective interest rate from 0 to 5%.
Loans are provided to individuals for the renovation of residential real estate.
Rocket Line and Rocket Line 0%
Enjoy Rocket Line digital loan of up to 10 million AMD through Idram&IDBank app or IDBanking.am platform. Get now, pay over 36 months. Moreover, you can use Rocket Line 0% when making payment with hundreds of partners, with an actual interest rate of 0% and without additional fees.
11% - in urban areas
12% - in rural areas
14% - in border areas or high mountain areas
2) At least 20% of the loan amount – for apartments
3) At least 30% of the loan amount – for individual residential houses
1. The energy efficiency assessment based on the above requirements is carried out using online energy efficiency calculation tools, like "Warm Hearth" or "My Roof"
2. The amount allocated for the purchase of household appliances cannot exceed 10% of the total loan amount (household appliances that can be bought with the loan include refrigerators, washing machines, dishwashers, electric ovens, electric stoves, electric water heaters with energy efficiency class A+). The purchase of household appliances is not considered as energy efficient measure.
3. The use of the loan in the authorized expenditure areas is carried out through non-cash transactions in the amount of at least 70% of the total loan amount. At least 80% of the expenditure areas of the loan and 100% of the expenses allocated for energy-efficient measures must be substantiated through relevant documents (payment order, cash receipt, payment by invoice, bank or card transfer, a document confirming the fact of acceptance and delivery of goods, work or services).
4. Energy-efficient measures that fail to provide documents confirming payment are not considered as energy-efficient measures. In order to use the loan funds, it is necessary to present preliminary and final photographs and/or video recording summarizing the renovation work.
co-borrower- 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 co-borrowers) is enough to repay the loan without the given co-borrower (co-borrowers).
1.1 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
2.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.
2.1 The Client should not be included in the list of undesirable clients of the Bank.
2. Negative credit history
3. Adverse credit history of the person affiliated with the client
4. Insufficient income
5. Insufficient level of creditworthiness
6. Insufficient level of collateral liquidity from the bank's perspective
7. An undesirable client for the bank
8. Provision of false or unreliable information
9. Availability of information casting doubt on loan repayment
10. Lack of a client email address
11. Other reasons
Penalty for overdue interest amount – 0.1% for each day of delay
in case of early repayment of the loan amount, no penalty is charged
In case of non-targeted use of the loan, the Bank is entitled to demand:
1) early repayment of the entire loan amount
2) penalty in the amount of 25% of the misused loan amount,
3) revision of loan interest rate as authorized by the competent body if the Bank.
2. Social card/public service number (PSN)/ identity card/(reference on absence of PSN)
3. Income documentation
4. Certificate of registration of ownership of the renovated apartment or residential house
5. A report issued by licensed persons (the report issuance date should not exceed 10 years), as a result of inspection of the technical condition of the apartment (residential building) built before 2010 on the absence of 4th degree damage
6. Client’s e-mail address
7. Photos or video recording of the renovated real estate property
8. In case of pledge, a list of additional documents related to the pledge, in accordance with the information bulletin on "Renovation Mortgage Loans".
1) At least 20% of the loan amount – for apartments
2) At least 30% of the loan amount – for individual residential houses