Credit for purchasing housing property “Privileged+”


Credit for purchasing housing property “Privileged+”

“Privileged+”

Credit for purchasing housing property (Primary and secondary market)

Purpose

Credit for purchasing housing property on the primary and secondary market.

Target group

RA residents, having stable income

Maximum credit sum

A

150,000 USD

Credit currency

USD

Maximum credit period (months)

A

180

Minimum prepayment

A

10% + additional collateral-real estate

Annual interest rate

A

12.9%

Credit interest is computed on the reduced credit reminder. During the validity of the credit contract the Bank does not change the nominal interest rate if the borrower does not break terms of the contract.

Credit interest is computed on the basis of the nominal interest rate. The actual interest rate shows the cost of the credit in case of timely payment of interest and other fees.  Please see the annual actual interest rate calculation formula here. During the validity of the credit contract the Bank does not change the nominal interest rate if the borrower does not break terms of the contract.

 Commission 

1. Commission fee provided for the credit granting-to the 0.5% of the credit sum, but not less than 80.000 AMD

2. Cash-withdrawal commission (according to the tariffs for cashing at the time of withdrawal from the account)

Credit provision order

The credit is provided cashless.

Credit repayment order

  1. On monthly basis,  the main debt in equal installments.                                             
  2. Annuity payments on monthly basis

The interests are computed on the reduced credit reminder.

Pre-payment possibility

Is allowed without any penalties

Penalties

For delay in payment of principal credit sum

0,2% on the overdue amount for each day of delay until the day of redemption 

For not paying interests

0,2% on the overdue amount for each day of delay until the day of redemption 

 

Security

Collateral

Acquired real estate and additional collateral – minimum to the 40% of acquired real estate valuated value. Additional collateral must be in the locality of A, B or C

Third person guarantee

Is not obligatory

The appropriateness is determined by Bank

Attention!

In case of interests and credit amount repayments not in time, the pledged property can be confiscated and the information on the borrower will be registered in the Credit Register.  

In case of credit debts not fulfillment and debts repayment at the collateral 's expense, it is possible debts repayment at the expense of the other property of the borrower if the collateral is not enough to cover  borrower’s  credit debts. 

The collateral is estimated and insured by companies cooperating with the bank /see the list here/.

The price range of additional services is:

  • property estimation - from 15,000 AMD (depending on the property type and area)
  • property insurance - 0.2% of the assessed value or of the loan amount (by the customer's request)
  • personal insurance - 0.25% of the loan amount
  • payment of notarial services - according to the notary law

The ratio of the loan amount to the pledge

Maximum 80%

Collateral valuation

Obligatory by the independent licensed appraiser company at the borrower’ expenses

Insurance

Property

Obligatory

Personal

Obligatory

Requirements to the collateral

1. Apartment

The apartment should be highly liquid. The credits are not issued in buildings with high wear.

2. House

Own house should have a plot of land with separate convenient entrance. The house should not have common walls with neighbors. Minimum floor area - 100 sq.m. 


Area sample of settlements of RA

Territorial limitation

Settlement

A

Yerevan  

B

Gumri, Vanadzor, Abovyan, Jrvej, Dzoraghbyur, Echmiadzin

C

Tsakhkadzor, Argavand, Parakyar, Kasakh, Aring, Stepanakert, Hrazdan, Tashir, Sevan, Armavir, Martuni, Ashtarak, Kapan, Artashat, Ijevan, Dilijan, Stepanavan,Zovuni, Eghvard, Ptghni, Eghegnadzor, Jermuk, Artik, Gavar, Alaverdi

Credit application consideration period

Maximum period for the decision acceptance on the credit application.

Within 4 days, after all the necessary documents presentation.

Maximum period for notification to the client on the Bank decision.

Within 1 days

 

Maximum period for credit granting

Within 1 working day after collateral state registration.







Updated: 10/08/18 17:15