ONLINE

CHAT

For Individual Clients

Gold-secured loans

Dear client

Pease be advised that starting January 15, 2016 Ameriabank will no longer provide loans secured by gold. All gold-secured loans currently outstanding will continue to be serviced in accordance with general terms and conditions until fulfilment or termination of credit liabilities of the client.

 

 




Ameriabank has defined the following limits for gold-secured loans

Purity
Appraised value of gold as per its purity
A
R
583
8,200
750
10,500
860
12,100
900
12,700
958
13,500
999
14,000

 

 

 

 

The bank offers credit cards secured by gold under the following terms and conditions*

 

Term (month)

Loan to value (LTV) ratio (%)

Annual interest rate (%)

6-24

Only if the repayment scheme is based on equal monthly installments – 100%

24.00% for AMD-denominated loans,

18.90% for USD-denominated loans and

17.90% for EUR-denominated loans

6-12

If there is no fixed repayment schedule (principal upon maturity, interest – monthly) – 80%

* Card credit lines are subject to the card service rates and fees.

Security. The loans are secured by pledge of gold jewelry. Gold watches may be used as loan collateral as scrap and only if the model is satisfactory to the Bank.

Early repayment. In case of early repayment of the loan, the interest for outstanding days will be refunded.

Service fee. Loan service (cashing) is subject to a lumpsum fee as follows below: 

 

 

Up to AMD 100,000 AMD 500
AMD 100,001-300,000  AMD 800 
AMD 300,001-1,000,000 AMD 1,000 
AMD 1,000,001-1,500,000 AMD 1,500
AMD 1,500,001–-5,000,000 0.1% of the loan principal

 

The Bank offers gold secured loans only in its regional branches and Yerevan-based Shengavit Branch.

The minimum loan amount is AMD 30,000 for lending in regional branches and AMD 200,000 for lending in Shengavit Branch.

For more details please see Terms of Gold Secured Loans.

 
Safekeeping of Valuables
 
Value
Fees
1 month
3 months
6 months
1 year
Up to 1 kg
5,000
15,000
20,000
 30,000
1 kg or more
10,000
30,000
40,000
50,000
 

 

 

 

APR (annual percentage rate) calculation example for gold-secured loans

Suppose you got a gold-secured loan on the following terms:

  • Principal: AMD 60,000
  • Maturity: 3 months
  • Annual nominal interest rate: 24%
  • The repayment schedule for your loan will be the following:

 

Date
Total Amount
June 06, 2010
500+3900
July 10, 2010
0.00
August 10, 2010
0.00
September 10, 2010
60,000.00
Actual
35.5883%

 

Note, that in case of changes in any of the terms of the loan APR will also be subject to change.

  • Other transactions related to the loan service are subject to relevant written instruments of which the templates are determined by the bank.
  • The collateral is appraised by the relevant specialist of the bank.

 

ATTENTION!

  • In case of default on the principal and interests of the loan the information about your delinquent liabilities will be recorded in the credit register.
  • The principal and interests of the loan are the legally enforceable liability of the borrower. In case the collateral value is insufficient the liabilities are subject to enforcement at the account of other property of the borrower in court or out of court as well as through public sales.

‘Financial Assistant’ system at abcfinance.am website offering ‘Finance for Everyone’


Updated 27.07.2016, 10:56

Services for Individuals

  
HEAD OFFICE

9 Grigor Lusavorich Street, Yerevan 0015,RA

Tel.: +37410 56 11 11

Fax: +37410 51 31 33

USA:

+1 888 802 5352

UK:

+448000903191

Dear visitor,
If you find any discrepancies in the website materials in Armenian, English and Russian languages, or incomplete materials in Russian and English languages, please consider Armenian version as prevailing.
 
Ameriabank CJSC does not bear any responsibility for the inaccuracy of information on the linked web sites, nor does it accept any responsibility for the advertisements therein or possible consequences arising out of use of information provided on the linked web-sites by the third parties.
© 2007-2017. All rights reserved.