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PROMOTIONAL PACK


The promotional pack is for mortgage loan borrowers of the Bank, in the scope of which the following services are offered:

 

1.1. Annual nominal interest rate at -1% of the nominal interest rate for credit lines applicable by the Bank,

1.2. The credit line is given by credit cards and under conditions specified by point 2 hereof.

1.3. All other terms, not mentioned by points 1.1-1.2 hereof, according to terms of issuance and maintenance of credit lines applicable by the Bank as of the given time.

1.4. When providing credit lines to existing mortgage loan borrowers, the Bank may not require to present income proof, provided that the information received from “Nork” information system is enough, and for new mortgage loan borrowers, the information presented for mortgage loan shall be accepted.

2. MasterCard Gold or visa Platinum payment cards free of charge

Terms of payment card issuance

 

 

1

Type of payment card

Mortgage loan amount

MasterCard Gold

Up to AMD 25.000.000 /USD 50.000 for mortgage loan

Visa Platinum

Up to AMD 25.000.000 /USD 50.000 for mortgage loan

2

Annual service fee

 

Free of charge

3

Other fees for payment cards and transactions, which are not regulated by this table shall be according to the applicable fees of the Bank.


 3. Free insurance pack “Home Active” – insurance of interior and engineering equipment in the frames of AMD 2.000.000 (for borrowers taking the mortgage loan from the Bank).

4. Free “Bank Client” system with the authority to carry out transactions (for borrowers taking the mortgage loan from the Bank).


Actual example of promotional pack credit line

• Loan amount:  
2 000 000 AMD
• Annual interest rate:  
17%
• Maturity: 
60 months 
• Monthly minimum repayment of credit line
5% 
• Annual service fee-  
free of charge  
• Cash withdrawal at cash withdrawal points of the Bank  
0.5%  
• Annual nominal interest rate:  
18,93%

Method of calculation of interest amount 

Interest amount is applied to the reduced balance with the account of 365 days a year. 

ATTENTION: THE INTEREST ACCRUED TO THE CREDIT AMOUNT IS CALCULATED ON THE BASIS OF NOMINAL INTEREST RATE. THE ACTUAL ANNUAL PERCENTAGE RATE SHOWS THE COST OF THE LOAN IF YOU PAY THE INTEREST AND OTHER DUE PAYMENTS WITHIN THE DEFINED TERMS AND AMOUNTS.

Early repayment of the loan
No early repayment fee is charged

Exchange rate effect 
Taking into account the fact that the Bank provides loans in both Armenian drams and foreign currency, the borrower should understand that foreign currency fluctuations can have either positive or negative impact on the loan repayment.

Loan request rejection  

The Bank may reject loan applications of those clients, which fail to meet the program requirements or where the Bank is not sure of the solvency of clients; the Bank can provide written notice on rejection upon request of the client.   The Bank is liable to provide such information on rejecting the loan to other banks of RA and credit organizations (according to the RA Law on banking secrecy).

ATTENTION: IN CASE OF FAILURE TO REPAY THE LOAN INTEREST AND/OR PRINCIPAL WHEN DUE YOUR ASSETS CAN BE SEIZED. THE INFORMATION ABOUT YOUR OVERDUE LIABILITIES SHALL BE RECORDED IN THE CREDIT REGISTER.

If the funds received as a result of disposal of pledged property are not enough to cover the borrower's liabilities under the loan, such liabilities shall be paid on the account of other equivalent assets of the borrower.

The page was updated 14.09.2018 12:00
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.