Credit for purchasing apartment “Liquid”

“Liquid”

Credit for purchasing apartment

 (primary and secondary market)

Purpose

Credit for purchasing apartment on the primary and secondary market.

Target group

Natural persons, residents of RA, having a stable income

Maximum credit sum

A

40 000 USD

Credit currency

USD

If credit is given in foreign currency then currency movement may influence on credit repayment.

Maximum credit period

144 months

Minimum prepayment

20%

Interest rate

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 – 80 000 AMD.  

2. Cash-withdrawal commission (according to the tariffs of the Bank).  

Crediting procedure

Credit is given non-cash.

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-term repayment

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

Purchased property

Third person guarantee

Is not obligatory

The appropriateness is determined by Bank.

Attention!

If credit amount and interests repayments are not realized in time, the pledged property can be confiscated and the information on the borrower will be registered in the Credit Register.

If credit liabilities are not fulfilled and liabilities repayment are realized at the collateral’s expense, it is possible liabilities repayment at the expense of the other property of the borrower if the collateral is not enough to cover  borrower’s  credit liabilities

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/ from accident/

Obligatory

Requirements to the collateral

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

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

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.