Credit for purchasing business property
Credit for purchasing business property
“CLASSICAL” Credit for purchasing business property (primary or secondary markets) | |||||
Purpose |
Credit for purchasing housing property on the primary or secondary markets | ||||
Target group |
Physical persons, RA residents, having a stable income | ||||
Maximum credit sum |
A |
B |
C | ||
500,000 |
100,000 |
50,000 | |||
Credit currnecy |
USD | ||||
Maximum credit period (months) |
A |
B |
C | ||
120 |
96 |
84 | |||
Minimum prepayment |
A |
B |
C | ||
30% |
40% |
50% | |||
Annual interest rate
|
A |
B |
C | ||
13% |
15% |
16% | |||
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 non-cash. | ||||
Repayment order |
1. On monthly basis, the main debt in equal installments. 2. Annuity payments on monthly basis Credit interest is 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 | |||
Third person guarantee |
Is not obligatory The appropriateness is determined by branch managers, Administration of Retail Deposits or Credit Committee | ||||
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:
| |||||
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 |
Premise should be highly liquid, it should have a plot of land with convenient entrance. |
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