The loan is provided at the Bank's head office as well as at full service branches.

Note: Loan interest rates are calculated based on the nominal interest rate. The actual annual interest rate shows the total cost of the loan after all statutory payments including interest payment and loan origination and servicing fees are paid within fixed time limits and amounts.

The actual annual interest rate may change depending on changes in the exchange rate published on the official website of the Central Bank of the Republic of Armenia.

If the loan is provided in foreign currency, changes in foreign exchange rates can affect terms of the loan repayment.

DOCUMENTS REQUIRED FOR THE ANALYSIS OF THE LEGAL STATUS AND FINANCIAL POSITION

1. Loan application;
2. Copies of founding documents — state registration certificate, tax code;
3. Copies of the passport and social security card;
4. Local municipal statement of actual residence on residing persons (upon request);
5. Financial statements for the previous reporting period, VAT, social payments, income tax;
6. Statement on accounts receivable and accounts payable (in case the loan amount exceeds AMD 35.000.000 or equivalent foreign currency);
7. Statement issued by tax authority on outstanding liabilities towards budget;
8. Copy of license, upon carrying out an activity subject to licensing in cases stipulated by the legislation of the Republic of

 IN CASE REAL PROPERTY IS PLEDGED

1. Ownership certificate (original);
2. Grounding document on the right of ownership (upon request);
3. Copies of ID documents of the owner (co-owners), (marriage certificate of co-owners);
4. Statement issued by territorial subdivision of the State Committee of Real Estate Cadastre under the Government of the Republic of Armenia regarding restrictions on the property to be pledged (such statement shall be provided upon positive lending decision);
5. Appraisal report made by a person holding a respective

IN CASE LOAN IS SECURED BY GUARANTEE

1. Copies of the passports and social security cards of the guarantors;
2. Employment reference, provided that a guarantor’s income is not generated from entrepreneurial activity and/or the guarantor is not a family

 IN CASE OTHER COLLATERAL IS PLEDGED

1. List of property, by specifying the unit of measure, quantity, balance sheet value and, upon availability, acquisition documents;
2. In case of the vehicle, vehicle registration document and certificate of title (original copy);
3. In case of guarantee, guarantors’ passports and social security cards;
4. Appraisal report made by a person holding a respective license (upon request).

LIST OF REQUIRED DOCUMENTS FROM REPEATED SMALL LOAN BORROWERS WITHIN THE FRAMEWORK OF MASTER LOAN CONTRACT

1. Loan application;
2. Statement on accounts receivable and accounts payable (in case the loan amount exceeds AMD 35.000.000 or equivalent foreign currency);
3. Financial statements for the previous reporting period, VAT, social payments, income tax;
4. Statement issued by tax authority on outstanding liabilities towards budget;

Other additional documents upon

A customer must submit original copies of the documents above or duly verified copies thereof.

DOCUMENTS REQUIRED FOR THE ANALYSIS OF THE LEGAL STATUS AND FINANCIAL POSITION

1. Loan application;
2. Decision of the authorised body on loan disbursement and pledge of property;
3. Copies of founding documents — Charter with all amendments and supplements to be made thereto, State registration certificate with its inserts, including the insert on the information about director of the company, tax code;
4. Statement issued by State registry on the amendments to the Charter and shareholders, including a statement issued by Central Depository for open joint stock company and a statement issued by shareholder registry keeper for closed joint stock company;
5. Copies of the passport and social security card of Director and the shareholders with a stake exceeding 25%;
6. Statement on accounts receivable and accounts payable (in case the loan amount exceeds AMD 35.000.000 or equivalent foreign currency),
7. Financial statements for the previous reporting period, VAT, social payments, income tax;
8. Statement issued by tax authority on outstanding liabilities towards budget;
9. Copy of license, upon carrying out an activity subject to licensing in cases stipulated by the legislation of the Republic of

IN CASE REAL PROPERTY IS PLEDGED

1. Ownership certificate (original);
2. Grounding document on the right of ownership (upon request);
3. Copies of ID documents of the owner (co-owners), (marriage certificate of co-owners);
4. Statement issued by territorial subdivision of the State Committee of Real Estate Cadastre under the Government of the Republic of Armenia regarding restrictions on the property to be pledged (such statement shall be provided upon positive lending decision);
5. Appraisal report made by a person holding a respective

IN CASE OTHER COLLATERAL IS PLEDGED

1. List of property, by specifying the unit of measure, quantity, balance sheet value and, upon availability, acquisition documents;
2. In case of the vehicle, vehicle registration document and certificate of title (original copy);
3. In case of guarantee, guarantors’ passports and social security cards;
4. In case pledging the property of a third party, copies of founding documents — Charter with all amendments and supplements to be made thereto, State registration certificate with its inserts, including the insert on the information about director of the company, tax code and decision of the authorised body on pledge of property;
5. Appraisal report made by a person holding a respective license (upon request).

LIST OF REQUIRED DOCUMENTS FROM REPEATED SMALL LOAN BORROWERS WITHIN THE FRAMEWORK OF MASTER LOAN CONTRACT

1. Loan application;
2. Decision of the authorised body on loan disbursement and pledge of property;
3. Statement on accounts receivable and accounts payable (in case the loan amount exceeds AMD 35,000.000 or equivalent foreign currency);
4. Financial statements for the previous reporting period, VAT, social payments, income tax;
5. Statement issued by tax authority on outstanding liabilities towards budget;

Other additional documents upon

A customer must submit original copies of the documents above or duly verified copies thereof.

• A lending decision is made within a maximum of 30 working days following the submission of all required documents.
• The borrower is notified of the decision of the authorized body on the loan within one day.
• Once the decision is made, the loan package is compiled and loan granted within a maximum period of 15 working days. In case the loan is not provided within the mentioned period, the decision of the authorized body is considered void. If reviewed, the decision is submitted to the authorized body for re-consideration.

Where the loan is disbursed in tranches, one-off fee shall be charged for loan package compilation and processing during the first tranche from the total amount of all tranches. Where subsequent loan tranches are not disbursed, no recalculation shall be made and the charged fee shall not be refunded. If:

• the loan is divided into several parts due to variety of funds (resources) involved and / or

• the loan is provided by loan contracts concluded under two or more general agreements for credit transactions and / or
• the loan is provided by a separate loan agreement and a loan contract (contracts) concluded under the general agreement (agreements) for credit transactions, and / or
• the loan is provided by two or more loan agreements, loan package compilation and servicing fee is charged from the total amount of the loan in proportion to loan amounts provided by the concluded loan agreements and / or contracts. 

Factors for loan application approval

1. Positive credit history
2. Solid financial condition
3. Positive business reputation
4. Adequate security cover

Factors for loan application rejection

1. Negative credit history
2. Unsolid financial condition
3. Negative business reputation
4. Unacceptable security cover

Loan repayments are made in the following order:

• Other costs related to court and loan repayment (in case of receivables)
• Accrued penalties and fines (if any)
• Accrued interest
• Principal amount of loan

Your property (house, vehicle, or other) may be confiscated in the manner provided for by law where you fail to repay your interests and principal in time.

Where you fail to perform your obligations either fully or partially, the Lender shall send those data to the credit bureau within a three-day period, where your credit history is generated. You shall have the right to obtain your credit history from the bureau free of charge. Attention: A bad credit history may hinder lending in the future. 

You have the right to communicate with a financial institution of your choice by post or e-mail. Receiving information electronically is the most convenient option. It is available 24/7, free from the risks of loss of paper information and ensures privacy.

The bank may request additional documents or other information based on the "Know your customer" principle, as well as ask additional questions during oral communication, for the purpose of due diligence of the customer defined by the RA Law "On Combating Money Laundering and Terrorist Financing". 

In accordance with the agreement signed with the USA based on the Compliance Act (FATCA), the financial organization may collect additional information to determine whether you are a US taxpayer.

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