CREDIT CARDS

Representative Example of Interest Calculation

When filling out the general overdraft form, the following unified principle was used- 100 000 AMD was accepted as the minimum amount limit for calculating the actual loan interest rate and the loan cash withdrawal commission threshold, in case of the maximum threshold, the maximum loan amount determined by the given instrument (in case of its absence: 1 million AMD), as the loan term, the maximum term defined by the instrument, in case of cards provided with free maintenance for the first year, the commission fee was evenly distributed over 2 years.

Before concluding a loan agreement, the bank issues an Individual Form in accordance with Regulation 8/05 "Procedure for communication between a bank and a depositor, a creditor and a consumer, terms, conditions and minimum requirements", approved by the Board of the Central Bank of the Republic of Armenia.