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Package IDgold

A package of services for creditors with gold pledge loans 

Get a quick and favorable gold secured loan and get at the same time:        
  • Rocket Line
    In the amount of 10% of gold pledge loan
  • Visa Gold debit card
    50% discount 
  • Bank account in AMD and Accident insurance
    Free
  • Online/Mobile banking
    Free


The page was updated 15.12.2020 09:46

Package IDgold 

A package of services for creditors with gold pledge loans
 

Approved by resolution N 407-Լ of the
Management Board of “ID Bank” CJSC
as of November 04, 2021
Applied starting November 19, 2021

The terms mentioned in the bulletin may be changed.
If you are reading the bulletin on the Bank web site, please pay attention to the enforcement date of the summary.
If you are reading paper version of the bulletin, for more details please visit Bank web site address: www.idbank.am  (paying attention to the enforcement date of the bulletin) please apply to any branch of the Bank or call to the Bank’s call center: (+37410) 59 33 33, (+37460) 27 33 33

PACKAGE OF SERVICES FOR CREDITORS WITH GOLD PLEDGE LOANS 
IDgold
General terms
1. GOLD PLEDGE LOANS
1. Gold appraisal tariff According to tariffs approved for the package of gold pledged loans 
2․ Repayment mode Annuity
3․ Currency AMD
4. Minimum loan amount AMD 300 000 
5.  Loan term (months)
36-60
6. Annual nominal interest rate

loan collateral ratio / loan term (months)

36  37-60
up to 70% 14% 15%
71-90%2    15.5% 16%
91-100% 16.5%     -
7. Annual effective interest rate
15.78% - 22.60%
8. Within the package clients receiving gold pledged loans are provided with an additional opportunity to obtain standardized gold bars from the Bank under the condition of pledging the latter as a security of loan to be provided and directing the amount of the additionally provided loan towards the payment of the cost of the standardized gold bullion. 
9. Cost of purchasing standardized gold bars The selling cost of the corresponding weight of the standardized gold bar published by the Bank plus the corresponding weight of the standardized bar multiplied by AMD 200
10. Cost of pledging standardized gold bars Cost of purchasing a standardized gold bar from the bank
11. Maximum weight of standardized gold bullion offered/available to the client  The maximum weight of standardized gold bullion offered/available to the client depends on the aggregate amount of the balance of the acting and approved /to be provided/ gold pledged loans of the client in the Bank, in the amounts stated below:

  • For loans amounting up to AMD 499,999 – maximum 5 grams,
  • For loans amounting to  AMD 500,000-1,500,000 – maximum 10 grams,
  • For loans amounting to AMD 1,500,001 and above – maximum 20 grams.

12. Other conditions
According to conditions of loans with annuity repayment method mentioned in the information bulletin of Gold pledged loans in the Bank. 
Repayment of gold secured loans in other organizations
13․ Currency
AMD
14․ Minimal amount of the loan
AMD 150.000
15․ Loan term
1185 days
16. Annual nominal interest rate
0% for first three months, after which 17.5%
17. Repayment method
Annuity, starting after grace period
18. Grace period for loan amount and monthly payment for package usage
3 months
19. Loan provision lump commission fee at the moment of the loan provision (from the contract amount of the loan)
2.5%

(The advantage established for “Gold Standard” loan is not applied for crediting physical entities engaged in gold trade and/or production or in cases of transfer of loans secured by gold deposit from other banks or financial organizations)
20. Annual actual interest rate
17.79% - 23.93%
21. Other conditions
according to the terms of the loans with annuity repayment method of the information bulletin on loans secured by gold deposit, operating in the Bank
22. Current terms only apply to loans secured by gold in case of transfer from other banks, credit and other organizations, and at least 80% of the total amount of the contracted loan amount (s) must have been serviced for at least 30 days and the customer must submit to the mentioned organizations Loan repayment receipt (maturity of the receipt - maximum 5 working days)
2. Rocket Line[1]
23.  Maximum amount of the loan
In the amount of 10% of gold pledge loan, minimum 10 000 AMD
24. Other terms
In accordance with «ROCKET LINE loan/loan limit» information bulletin operating in the Bank
3. Debit Card
25. Card type
Visa Gold
26. Annual service fee of card account
50% discount on tariff valid in the Bank defined by «Debit payment cards» information bulletin

If the client already has a card of the given type, no new card will be provided within the framework of the package. 
27. Other terms
In accordance with «Debit payment cards» information bulletin operating in the Bank
4. Bank Accounts
28. Account currency
AMD
29. Account opening
Free of charge
30. Other terms
In accordance with «Tariffs on bank accounts, transfers, services provided by «ID Bank» CJSC» information bulletin
5. Insurance
31. Type

Insurance from accidents – voluntary sale (1st, 2nd, 3rd disability group, death).

Insurance is set for the 1st year of the package.

  • A new insurance policy may not be concluded if within the term of the insurance policy:
  •  Another gold pledged loan is provided to the client within the framework of the package,
  • If the client makes an early loan repayment and received a new gold pledged loan within the framework of the package.
32.  Insurance fee
Performed by the Bank 
33. Other conditions In accordance with «Rosgosstrakh-Armenia» CJSC  cooperation terms: for the first year of package operation
6. Distance Services
34. Online/Mobile banking Free of charge
Package Provision Terms
35. Package activation fee
Free of charge
36. Package annual service fee
AMD 500 



[1] In ID Bank CJSC, the total of unpledged loans of creditor must not exceed 10 000 000 AMD


GENERAL PROVISIONS

1. In case if the client renounces the package, the services included in the package shall be renders in accordance with the tariffs applied in the Bank.
2.  Disputes arising between the parties can be settled in a court proceeding or through the Financial system mediator (in the order prescribed by the RA law on “Financial system mediator”), located at 0010, Yerevan, 15 M. Khorenatsi St, “Elite Plaza” business center, 7th floor, e-mail – info@fsm.am, telephone – (+37460) 701111, fax –(+37410) 582421. Moreover, if the property claim does not exceed 500 000 (five hundred thousand) AMD or equivalent in foreign currency, the decisions of the Financial System Mediator cannot be challenged by the Bank.
3. For the purpose of proper study of the client as defined by RA law on “Combating money laundering and terrorism financing”, the Bank may require additional documents or information based on “Know Your Client” principle.
4. According to the agreement with the USA based on the Foreign Account Tax Compliance Act (FATCA) the Bank may collect additional information for the purpose of identification of the fact of the client being a US taxpayer.
5. The Client has the right to communicate with the Bank through a preferred means of communication: e-mail or regular post. The electronic means of communication is the most comfortable. It is available 24/7 and is free of the risk of losing information in paper as well as ensures confidentiality.
6. The list of branches and ATMs of the Bank, information on their locations and working hours can be found at the following link: Branches and ATMs.
7. Remote servicing by the Bank is provided thought the IDBanking.am online system. The order and tariffs on rendering remote services are presented in “Public terms on rendering remote banking services”. 


For gold secured loans the appraisal of 1gram of gold is carried out according to the following prices, based on the purity:

Date For IDgold package  
The price of 1 gr. of gold (AMD) / Assay      
375 500 560 585 750 875 900 958  999
15/11/21 11,300 15,000 16,800 17,600 22,500 26,200 27,000 28,700 29,900


ATTENTION․ THE BANK IS UNDER THE OVERSIGHT OF THE CENTRAL BANK OF RA

The page was updated 22.11.2021 17:40
The following documents are submitted to the Bank for IDGold package:

  • ID document    

  • Public service number /reference on non-receiving the PSN

The page was updated 15.12.2020 09:46
Attention: The Bank does not bear any responsibility for the inaccuracy of information on the linked web sites, nor does it accept any responsibility for the advertisements therein or possible consequences arising out of use of information provided on the linked web-sites. In case of any discrepancies in the website materials in Armenian, Russian and English languages, the Armenian version is prevailing.