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Purpose		A loan provided for purchasing a residential immovable property in the primary or secondary market, and for the construction of a residential house.
Potential borrowers		Individuals resident in the Republic of Armenia with stable income. The maximum OTI (income/loan expenses ratio) index- 45%.
The minimum and maximum amount of the loan		I According to the Bank's credit policy	II According to the Bank's credit policy				III According to the Bank's credit policy
		5.000.000 - 75.000.000 AMD
			5.000.000 -50.000.000 AMD				5.000.000 - 25.000.000 AMD
Loan currency		Armenian drams In the case of foreign currency loans, changes in foreign exchange rates can affect the repayment of the loan.
Minimum and maximum loan term		I		II			III
		120 - 180 months for AMD loans		84 - 120 months for AMD loans			84 - 120 months for AMD loans
Minimum down payment		I		II			III
		30%		40%			50%
The annual nominal interest rate of the loan		14.3% in case of AMD

The actual annual interest rate of the loan		I			II		III
		15.78% - 15.93% in case of AMD			15.79% - 15.93% in case of AMD		15.79% - 15.99% in case of AMD
		Attention: the loan interest rates are calculated based on the nominal interest rate. The actual annual rate shows how much the loan will cost you and if you make all the mandatory payments for the loan and service in due time and amount. You can find here the procedure for calculating the actual annual interest rate. The Bank does not intend to change the nominal interest rate during the term of the loan agreement, unless the borrower violates the terms of the agreement. Attention: The nominal interest rate of this loan can be changed by the Bank during the term of the loan agreement, if the borrower violates the terms of the agreement. The limits of change are: 1-5%
Loan commission fee	-
Other commission fees	5,000 AMD for studying a loan application.
Mandatory payments	5,000 AMD for studying a loan application.
Loan/collateral ratio	70%
Loan disbursement process	The loan is provided in non-cash form.
Loan repayment procedure	with monthly equal repayments, with monthly annuity repayments. The interest is calculated on the declining balance.
Possibility of early repayment	Allowed without penalties.
Penalties	Overdue loan					In case of overdue for two or more working days, one-time penalty in the amount of 2% of the overdue amount
	Overdue interest					A one-time penalty of 2% of the overdue interest in case of overdue for two or more consecutive working days.
WARNING: YOUR PROPERTY CAN BE CONFISCATED IN THE MANNER PRESCRIBED BY THE LAW IF YOU DO NOT MAKE YOUR INTEREST AND LOAN AMOUNT REPAYMENTS. ATTENTION: IN CASE OF NOT FULFILLING OR PARTIAL FULFILLMENT OF YOUR OBLIGATIONS, THE CREDITOR SENDS THIS DATA TO THE CREDIT BUREAU WITHIN A WORKING DAY (MAXIMUM THREE-DAY PERIOD), WHERE YOUR CREDIT HISTORY IS FORMED. YOU ARE RIGHTFUL TO GET YOUR CREDIT HISTORY FROM THE CREDIT BUREAU FOR FREE ONCE A YEAR. WARNING! A BAD CREDIT HISTORY MAY HINDER YOU FROM GETTING A LOAN IN THE FUTURE. IN CASE OF NON-FULFILLMENT OF CREDIT OBLIGATIONS AND REPAYMENT OF THE OBLIGATIONS AT THE EXPENSE OF THE COLLATERAL, AND IF IT IS NOT SUFFICIENT TO COVER THE BORROWER’S CREDIT LIABILITIES, REPAYMENT OF LIABILITIES MAY BE DONE AT THE EXPENSE OF THE BORROWER’S OTHER PROPERTY. ATTENTION: WHEN APPLYING FOR A LOAN, THE LENDER WILL PROVIDE YOU AN INDIVIDUAL SHEET WITH ESSENTIAL TERMS ON CONSUMER LOANS, IN WHICH THE INDIVIDUAL LOAN CONDITIONS WILL BE PROVIDED TO YOU.
Security		Collateral				Real estate to be acquired
		Third party warranty				Not required, The expediency is determined by the Bank.

The Real estate to be acquired is valued and insured by one of the companies cooperating with the Bank / see the list here/. The price range for ancillary services is as follows: property valuation: 15,000 AMD property insurance: 0.22% of the appraised value or loan amount/at the customer's request/ Personal insurance: 0.17% of the loan amount Notary service fee: 15,000-20,000, including marriage declaration agreements State property registration fee: 26,400-172,500 AMD
Collateral Appraisal		Mandatory, licensed by an independent appraisal organization. Is implemented by the borrower.
Insurance		Property				mandatory
		Private				mandatory
Collateral requirements		1. Apartment The apartment must have high liquidity. Loans are not provided to buy an apartment in high-depreciation buildings. 2. Residential house The residential house has to have a separate entrance and a plot of land. The residential house should not have common walls with the neighboring houses, and the surface has to be at least 100 m².
There are no other conditions limiting the loan’s availability for the customer. The loan is registered in the branches of the bank. The positive factors of providing a loan are the customer's creditworthiness, the existence of a positive credit history, the quality of the collateral, etc. The factors resulting in the denial of a loan include insufficient customer income, negative credit history, incomplete or unreliable information or documentation, etc. Check out the “Tariffs” section for tariffs on extracts, copies, references and other information during the term of the contract.

Region	Place of residence:
I	Yerevan
II	Gyumri, Vanadzor, Abovyan, Jrvezh, Dzoraghbyur, Etchmiadzin
III	Tsakhkadzor, Argavand, Parakar, Kasakh, Arinj, Stepanakert, Hrazdan, Sevan, Armavir, Martuni, Ashtarak, Kapan, Artashat, Ijevan, Dilijan, Stepanavan, Zovuni, Yeghvard, Ptghni, Yeghegnadzor, Jermuk, Artik, Gavar, Alaverdi, Tashir, Goris, Masis.

Maximum term of decision making on a loan application	4 working days after submitting all the necessary documents by the loan applicant
The maximum period for notifying the loan applicant of the decision	1 working day
The maximum term for providing the loan to the borrower	1 working day after receiving the state registration of the collateral

The list of necessary documents to be submitted to obtain a loan for buying an apartment (private house)

The buyer must submit:

1. Application (in the defined way),

2. Passport or an ID card,

3. Social card,

4. Reference from the place of residence (3^rd form, from the HDS),

5. Reference from the workplace, where it must be indicated the customer’s position, monthly salary, and/or income statement (in the defined way)

6. If the customer has their own business, the following documents are submitted: the charter, a reference from the state register on the latest changes in the charter and a declaration of income (in the defined way),

7. Other documents (e.g. Reference on compulsory social insurance payments, copies of documents certifying the buyer's other property, etc.)

8. If the buyer is married:

8.1 Spouse’s passport or identification card

8.2 Marriage certificate,

8.3 Spouse’s consent to obtain a loan, purchase an apartment and on mortgage,

9. In case of necessity, the guarantee of the Third party (documents proving the identity of the guarantor and solvency: financial statements, etc.)

The seller submits:

1. Passports of all owners of the purchased property, birth certificates for minors,

2. Seller's social card

3. If there are co-owners or registered persons who are away from the Republic of Armenia, then the notarized power of attorney (for co-owners), consent (for registered persons), and notarized translation, copies of passports,

4. Reference from the place of residence (3^rd form, from the HDS),

5. Certificate of ownership of the purchased property,

6. Grounds for the origin of the pledged property,

7. Joint reference on restrictions from the State Committee of the Real Estate Register under the Government of the Republic of Armenia (after receiving a positive conclusion on the loan),

8. Pictures of the purchased real estate,

9. If the owner(s) is/are married:

9.1 Spouse’s passport or identification card

9.2 Marriage certificate

9.3 Spouse’s consent to sell the property

9.4 For the purpose of proper examination of the client defined by the RA law “On Combating Money Laundering and Terrorist Financing", the consumer may be requested to submit additional documents or other information, as well as be asked additional questions during oral communication, based on the “Know your customer” principle.

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Հիփոթեքային վարկ

Classic

MAXIMUM AMOUNT

ANNUUAL INTEREST RATE

TERMS

Regional division of settlements in the RA

Terms of decision making on a loan application

The list of documents necessary for lending