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For Individual Clients

Consumer Loans
Need money urgently? Apply for a consumer loan.
Loans are available to the Republic of Armenia (RA) and Nagorno Karabakh Republic (NKR) resident citizens.
 

Consumer loan currency
Consumer loans are disbursed in AMD only in non-cash form. Loan proceeds are credited to the borrower’s account with the bank.

Consumer loans are processed at the bank.

The loan is disbursed during one banking day following insurance of the loan collateral and origination of the Bank’s security interest.
The pledged real estate or movable property should be appraised by an appraisal company cooperating with the bank. The company is selected by the client from the approved list. Appraisal costs vary within AMD 13,000-30,000* depending on property type.

Other fees:
 
  • Legal (notary) fee: AMD 14,000-16,000 (lump sum), if the loan is secured by a vehicle
  • Legal (notary) fee: AMD 13,000-18,000 (lump sum), if the loan is secured by real estate
  • Fee for statement from the cadastre on the real estate encumbrance: AMD 10,000
  • Security interest filing fee (for real estate): AMD 26,000
  • Security interest filing fee of the Armenian Police (for vehicle): AMD 5,000 (lump sum)

*In single cases, large property appraisal fee shall be agreement-based.
 

 

 


Attention!
The loan interest rate shall not exceed double the bank reference rate defined by the Central Bank of Armenia.

 

Loan decision
The Bank makes an initial decision within 2 (two) banking days following receipt of the loan application. The final decision is made during no more than 8 (eight) business days after the client submits the complete set of required documents to the bank, and is communicated to the client within one business day. The loan proceeds are disbursed one business day after (i) the security agreements contemplated in the loan agreement are in place, i.e. are registered in form and substance satisfactory to the bank and signed pursuant to the Republic of Armenia legislation, (ii) the pledged assets are insured by the company cooperating with the bank, and (iii) the client has fulfilled all other mandatory requirements.
After the Bank has approved the loan application:

  • The Bank starts loan processing and disbursement process if the borrower confirms his/her intention to get the loan within 45 (forty-five) calendar days after receiving loan approval notice.
  • If the borrower confirms such intention after 45 (forty-five) calendar days following receiving loan approval notice, the loan approval decision needs to be re-approved.

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Updated 15.09.2017, 11:13

Services for Individuals

  
HEAD OFFICE

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