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Currency
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AMD
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Credit limit
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50,000-1,500,000
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Deposit
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From 0%
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Term (months)
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6-60 months, except of computer equipment and telephones, for which the maximum term is set at 36 months.
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Annual nominal interest rate
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0-24%
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Monthly credit account service fee
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0-1.2% of provided loan
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Loan disbursement fee (lump sum)
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0%
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Repayment method
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Annuity (equal monthly installments consisting of a portion of loan and a portion of interest)
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Security
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Purchased goods
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LTV (“loan to value of security”) ratio
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Maximum 100%
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Required documents
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Personal ID
PPSN (Social card)
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Repayment Channel
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Wire transfer and Ameriabank’s payment terminals
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0
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Payment terminals of Easy Pay, Telcell, MobiDram, idram
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Easy Pay, idram, Mobidram - 200 AMD
Telcell - 300 AMD
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Repayment of loan and interest at the bank’s premises
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AMD 500 (for each cash operation)
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Online: on the Bank's website
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0
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Leaflet on essential terms of consumer loan (for purchase of mobile phones and computer facilities)
Leaflet on essential terms of consumer loan (for purchase of domestic appliances, furniture, home décor, etc., heating systems)
Other Terms of Lending
Other Terms of Lending
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Consumer finance is available at those stores with which the bank has executed a Cooperation Agreement.
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Consumer finance is provided just at the premises of Merchants.
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Consumer finance is available for 21-65 year-old resident individuals having Armenian citizenship for purchase of consumer goods (household appliances and computers, mobile phones, furniture, air conditioners, heating systems, etc.).
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Amount of finance is transferred to the Merchant’s account based on the Customer’s instruction issued under consumer finance agreement.
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Approval/rejection and maximum amount of finance are subject to the Customer’s creditworthiness assessment.
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The credit may be rejected, if;
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The Customer has a bad credit history
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The presented data are not trustworthy
Interest Calculation
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Interest is calculated based on nominal interest rate and accrued to outstanding loan.
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Actual annual percentage rate (APR) shows the cost of the loan in case of due and timely repayments (interest and other fees) under the agreement.
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No change of nominal interest rate by the bank is envisaged during the validity period of the agreement.
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Loan interest calculation example:
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Principal: AMD 200,000
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Interest rate: 24%
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Term: 12 months
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Credit account opening, management and servicing fee: 0%
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Monthly installment for this loan will be AMD 18,920.
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Actual annual percentage rate will be 26.95%.
Other Fees and Rates
For the fees and rates of provision of statements, references and other information please click here.
Fines and Penalties
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If the Borrower fails to pay the loan when due, the following fines and penalties will be applied (for each day of delay):
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0.13% of Principal
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0.13% of Interest
No fines and penalties for repayment of the loan before the due date!
ATTENTION!
Collateral Foreclosure
If the borrower fails to repay the loan and interest when due, the collateral will be foreclosed. If the value of the collateral is not sufficient, THE bank may foreclose ON other property owned by the borrower.
Information Provided to Credit Register
If the borrower fails to repay the loan and interest when due, information about overdue liabilities will be recorded in credit register.
A bad credit history may negatively affect the borrower’s future CREDIT experience.
Your Consumer Finance Form
Before executing the loan agreement Your Essential Terms Form will be provided to you in accordance with the Regulation 8/05 of the Central bank of Armenia “On Procedure, Terms, Forms and Minimum Requirements for Communication Between the Bank and Depositor, Creditor and Consumer”.
‘Financial Assistant’ system at abcfinance.am website offering ‘Finance for Everyone’