The Loan is offered at full-service branches of the Bank.

Attention: Loan interest shall be calculated based on nominal interest rate, while the effective annual interest rate shall indicate how much the loan will cost you upon full and timely payment of interests and all mandatory loan processing and servicing fees.

Timeframes for loan approval, customer notification, and loan disbursement

A lending decision is made within 1 business day.

The Borrower is notified of the lending decision within 1 business day, and the loan is disbursed within 3 business days from the date of submission of all required documents.

• Reference from the applicant’s duty station stating the latter’s military rank and amount of salary.

• Refinancing shall be applicable to loans disbursed by 01 December 2018 and approved for restructuring.
• Refinancing shall be applicable to loans used to restructure only the outstanding principal balance of consumer loans, with fines and penalties forgiven by the Bank or with no fines and penalties accrued. 
• Each Borrower may use the refinancing program only once, within the maximum limits available to the Borrower (or in the form of two or more loans disbursed within the maximum limit).
• A qualified consumer loan shall comply with the requirements set forth in the RA Law “On Combating Money Laundering and Terrorism Financing”.  
• A loan granted to the Borrower under the Program approved by the RA Government Decision No. 590-N dated May 23, 2013 shall be included in the maximum loan amount specified under point 4 of this Annex, and the calculation shall include the contractual amount of the loan.

Grounds for loan approval

1. The Borrower submits the required documents.
2. The Borrower meets the eligibility requirements.
3. According to the inquiry made to the ACRA Credit Bureau upon the submission of the loan application and the required documents, the Borrower has no overdue or classified liabilities and the total number of overdue days does not exceed 30 days within the last 24 months prior to filing the application.
4. The customer has a positive credit history or no history at all, and the customer’s creditworthiness is assessed as positive.
5. Other criteria.

Grounds for loan rejection

1. The Borrower fails to submit the required documents.
2. The Borrower does not meet the eligibility criteria.
3. According to the inquiry made to the ACRA Credit Bureau upon the submission of the loan application and the required documents, the Borrower has overdue or classified liabilities and the total number of overdue days exceeds 30 days within the last 24 months prior to filing the application.
4. Information on the customer obtained in the course of the lending process undermines the customer’s solvency.
5. The customer’s loan application is rejected by the Bank’s competent body authorized to take lending decisions.
6. Following the loan approval, the customer fails to appear or to submit the required documents within 10 days of the approval notice.
7. Other criteria.

Fees for provision of statements, references and other data*

*VAT included

When applying for a loan, the Lender shall provide you and guarantor(s) (if any) with an individual sheet on essential terms, wherein you will come across individual terms of the loan to be disbursed to you.  

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.

“Your financial directory”is an electronic system which facilitates the search and comparison of the services offered to individuals, and selection of the best options for you.

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.