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

* No guarantor shall be required if the income statement provided by the Borrower meets the credit rating requirements.

Exceptions to the age limit may be allowed in cases where the Borrower’s age does not exceed 65 at the loan maturity date.  

The collateral should be appraised by an independent appraisal body cooperating with the Bank and should be deemed acceptable by 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.

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

*Exceptions to the age limit may be allowed in cases where the Borrower’s age does not exceed 65 at the loan maturity date.  

The collateral should be appraised by an independent appraisal body cooperating with 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.

Requirements for pledge

• The property should neither be a public facility nor be located within the premises of another building, such as a dormitory or a hotel.
• All unauthorized constructions on real estate should be registered and specified in the ownership certificate (be legitimized).
• The real estate should not be located in a building deemed unsafe under level 3 or higher.
• Where the pledge is a private house, it should be pledged in whole.

Other mandatory fees

Timeframes for loan approval, customer notification and loan disbursement

A lending decision is made within a maximum of 30 business days.

The Borrower is notified of the lending decision within 1 business day, and the loan is disbursed within 15 business days from the date of submission of all required documents.

**Collateral shall be appraised by one of the independent appraisal companies cooperating with the Bank.

• The property must be neither a public housing nor be located in the territory of other building – either hostel or hotel territory,
• All unauthorized constructions of the real estate must be registered and outlined in the ownership certificate (must be legalized),
• The real property must not be located in a three-degree and more unsafe building,
• If the pledged property is a detached house, it will be completely pledged.
• Loan interest rate shall be accrued over the outstanding amount with 365 days in a year.
• Loan interests shall be calculated based on the annual nominal interest rate.

Required documents

• Loan application
• Copies of the applicant's passport and social security card (if unavailable, a reference certified by the competent body)

• Copy of marriage certificate (divorce certificate, spouse's death certificate)

• Copies of family members’ passports and social security cards
• Original and copy of certificate of ownership and grounds for title of property proposed for pledge

• Reference from State Committee of Real Estate Cadaster on real estate encumbrances (to be submitted in case of positive lending decision)

• Appraisal report by a duly licensed person

• Other documents upon credit officer’s request

Note: The Borrower may be required to update any of the documents listed above at any time over the life of the loan.

Requirements for pledge

• The property should neither be a public facility nor be located within the premises of another building, such as a dormitory or a hotel.
• All unauthorized constructions on real estate should be registered and specified in the ownership certificate (be legitimized).
• The real estate should not be located in a building deemed unsafe under level 3 or higher.
• Where the pledge is a private house, it should be pledged in whole.

Other mandatory fees

Timeframes for loan approval, customer notification and loan disbursement

A lending decision is made within a maximum of 30 business days.

The Borrower is notified of the lending decision within 1 business day, and the loan is disbursed within 15 business days from the date of submission of all required documents.

Attention: The Borrower may be required to insure the collateral against the risks of loss and damage and to produce the relevant documents. Upon the loan approval, the loan officer may request to update any of the documents listed above at any time over the life of the loan.

Grounds for loan approval and rejection

Grounds for loan approval

1. The Borrower/Guarantor submits the complete package of the required documentation.

2. The maximum number of days overdue within the last 24 months prior to filing the application is 45 days and the maximum number of days overdue within the last 12 months does not exceed 30 days (except for guarantees), and the customer’s current liability risk class is standard.

1. Where the customer has a positive credit history or no history at all, the creditworthiness and solvency of the customer shall be determined.
2. The customer/guarantor shall be deemed creditworthy if:

• Maximum debt-to-income ratio is 35% (monthly loan repayment / income of the Borrower and guarantor),
• Maximum total debt-to-income ratio is 45% (all loan obligations of the Borrower and guarantor/income of the Borrower and guarantor, excluding monthly repayments on guarantees provided by the guarantor).

1. Income before taxes should be taken as the basis. The pledged real estate meets the required criteria.
2. Other criteria.

Grounds for loan rejection

1. The customer/guarantor fails to submit all the required documents.
2. According to the inquiry made to the ACRA credit bureau on the credit history of the customer/guarantor upon the submission of the loan application and the required documents, the number of days overdue within the last 24 months exceeds 45 days, of which 30 days are overdue within the last 12 months, and the current liability risk class is other than standard.
3. The opinion on the creditworthiness and solvency of the customer is negative.

1. 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.

1. The property for pledge does not meet the defined requirements.
2. Following the loan approval, the customer fails to appear or to submit the required documents within 10 days of the approval notice.
3. Other criteria.

Fees for provision of statements, references and other data*

*VAT included

List of partner appraisal companies

List of partner insurance companies

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 loan obligations, the loan security, as well as another property of the borrower if the former is insufficient, may be seized and sold in a court or out-of-court procedure both through direct sale and public auction.

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.  

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.  

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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.