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Fast Credit Lines

Credit Lines in a few minutes

The credit line is provided without a collateral, as well as without an income statement. To get a credit line it is only necessary to have a positive credit history and an appropriate assessment of creditworthiness


  • Annual nominal interest rate
    21%
  • Maturity
    up to 36 months
  • Minimum amount
    100 000 AMD
  • Maximum amount
    1 500 000 AMD


The page was updated 04.04.2019 16:52

Fast Credit Lines

Credit Lines in a few minutes

The credit line is provided on the basis of income proof, without any collateral. To take a credit loan you need to have a good credit history and sufficient score.

Approved
by Decision No 373-Լ of the
Management Board of “IDBank” CJSC
as of September 6, 2019
Enters into force starting September 16, 2019

The terms mentioned in the bulletin may have been amended.
If you are looking at the bulletin on the website of the Bank, please pay attention to the action date of the bulletin.
If you are looking at the bulletin in a paper form, please visit the Bank’s website www.idbank.am for detailed information (paying attention to the action date of the bulletin), apply to any branch of the Bank or call the Bank’s Call center: (+37410) 59 33 33 or (+37460) 27 33 33.

Information bulletin for credit lines without a collateral

General terms and conditions

1.

Type of loan

Credit line

2.

Purpose

Consumer

3.

Currency

AMD

4.

Minimum amount

100 000

5.

Maximum amount

For customers with credit history1

3 000 000

For customers without credit history

Four X fixed net income (salary and equivalents)

6.

Annual nominal interest rate

For customers with credit history1

17% - 20.7%

For customers without credit history

20.7%

7.

Annual actual interest rate2

For customers with credit history

19,31% - 23,97%

For customers without credit history

23,75%-23.97%

8.

Minimum maturity (month)

18

9.

Maximum maturity1

36 months

10.

Interest against unused part of funds

Not applicable

11.

Method of provision

Non-cash through payment card

12.

Monthly minimum repayment amount

10%

13.

Grace period

Up to 45 days

No interest willl be calculated with regard to the part of the credit line used during the preceding month in non-cash method (other than card to card transfer, interbank and intrabank transfers within RA and among own accounts), if the customer repays the due amount on or before the 15th day of the current month

14.

Method or repayment of the credit line and interest amounts

Monthly mandatory entries to the card account to be done before the 15th of the current month in the aggregate amount of interest given in point 12 hereof accrued to the sum used by the last day of the previous month and the accrued interest amount; repayment of the principal amount should be done at the maturity

15.

Security

1) Score,

2) Cash flows

3) Guarantee of a physical person, upon the necessity

Fees

16.

Loan application processing fee

Not specified

17.

Upfront fee

Not specified

18.

Loan account service fee

Not specified

19.

Type of payment card

- Visa Classic credit card, the tariffs for which are stipulated by Annex 2.1 hereof or
- Idram Rocket Visa co-branding card, according to the applicable fees available: Idram Rocket VISA Information bulletin

Requirements to the borrower/guarantor

20.

Status

RA citizen physical person

21.

Eligible age

As of the date of application the borrower/guarantor must be at least 21, and maximum 65 by the maturity

22.

Requirements to the credit history of the borrower/ guarantor

- The customer must have good credit history, or

- the customer must be a registered employee throughout minimum six month preceding the loan application, if the latter doesn’t have a credit history

Fine, penalty

23.

On overdue credit line amount, per day

0.1%

24.

On overdue interest, per day

0.1%

25.

Early repayment fee

Not specified

26.

Grounds on which early repayment can be required

The Bank is eligible to claim early repayment if:

1) The customer withholds from the payment card,
2) Information provided for the credit line is inaccurate or untrue,
3) The customer failed to fulfil his/her obligations under agreement,
4) Other grounds, according to the agreement

Other terms and conditions

27.

Positive factors for provision of the loan

1) Good credit history

2) Enough cash flows

3) Good score

28.

Rejection factors

1) Bad credit history
2) Insufficient cash flows
3) Bad score,
4)Provision of false or unreliable information,
5) Provision of such information that doubts the return of the loan
6) other factors

29.

Maximum term for decision-making

During 1 business day

30.

Customer notification term (on the decision made with respect to the credit line)

During 1 business day

The customer may be notified either within the territory of the Bank, by phone call or through e-mail

31.

Maximum validity term of decision

10 business days

32.

Venue for applications to be accepted, processed and for credit line to be provided

All branches of the Bank or online, through application

Annex 2.1

Tariffs, terms and Conditions for Visa Classic credit cards

Services

Visa Classic

1.

Card currency

AMD, USD

2.

Card issuance within 2-5 banking days3

Free

3.

Validity period

5 years

4.

Urgent issuance 4 within 1 business day

5,000 AMD

5.

Annual card account service fee

Free of charge

6.

Minimum balance of card account

Not specified

7.

Annual simple interest rate for card account balance

0%

8.

Issuance of duplicate card against damaged card, or invalid card, stolen card or PIN code for the same validity period

2,000 AMD

9.

Re-issuance of expired card

Free of charge

10.

Card blocking

Free of charge

11.

Card unblocking

Free of charge

12.

Entrance ofof the card in the international STOP list (for 7 days period in one region)

10,000 AMD

13.

Provision of monthly statement from the card account at the Bank, through post or e-mail

Free of charge

14.

Provision of additional statement of the card account at the Bank, through post or e-mail5

1,000 AMD

15.

Fee for each SMS

Free of charge

16.

Replenishment of card account

Free of charge

17.

Cash withdrawal fee (from the Bank’s ATMs)

0.5%

18.

Cash withdrawal fee (from cash withdrawal points, POS terminals of the Bank)

0.5%

19.

Cash withdrawal from the Bank’s cash withdrawal points, without the use of the card

According to the fees established for cash withdrawal from POS terminals of the Bank for each card type

20.

Fees for cash withdrawal from ArCasystem other banks’ cash withdrawal points

1%

21.

Cash withdrawal fee for the withdrawal with cards from ATMs of foreign banks and banks not being members of ArCa system

1.5%, minimum 1 500 AMD

22.

Fee for card to card transfer (through ATMs and virtual card)

0.5%

23.

Fee for non-cash transactions through the cards

Free of charge

24.

Daily cash withdrawal limit

AMD 5,000,000, USD 10,000

25.

Daily cash withdrawal transactions

10

26.

Fee for temporary or permanent change of the limit

1,000 AMD

27.

Closing of the card account and card return

Free of charge

1 The maximum credit line amount, term and annual interest rate are defined according to the customer’s score.
2 THE INTEREST AMOUNTS OF THE LOAN ARE CALCULATED UPON THE NOMINAL ANNUAL INTEREST RATE. THE INTEREST AMOUNT OF THE LOAN IS CALCULATED ON THE ACTUAL LOAN BALANCE, AND THE NOMINAL INTEREST RATE INDICATES HOW MUCH THE LOAN WOULD COST THE CLIENT GIVEN THE INTEREST AMOUNTS AND OTHER PAYMENTS WERE PAID ON TIME AND IN THE DEFINED AMOUNTS.
3 Cards are activated according to the rules on the maintenance of payment cards (hereinafter the Rules), which is available: Rules.
4 Urgent issuance of a card is available in Vardanants branch of the bank only at Vardanants 13, c. Yerevan, RA, tel. (+37410) 59 33 33, (+37460) 27 33 33.
5 Card statements are provided within RA and abroad in the case of availability of sufficient funds on the card account of the customer, equivalent to the aggregate of postal fee and applicable Bank’s fee.

General provisions

1. The Bank’s cards are settlement cards, and these cards enable withdrawal of cash within the limits available for the cardholder, card crediting, making non-cash transactions/operations, on the account of facilities available on the card account and credit line/overdraft provided by the Bank.
2. VAT taxable fees include the VAT.
3. Fees for salary cards issuance and processing are determined separately, according to respective agreements.
4. The Bank has the right to unilaterally change the size of interest for facilities available on the account upon giving 15 days prior notice on the official website of the Bank.
5. Interest accrued onthe balance of the card account are paid on monthly basis.
6. Interest on the balance of card account start toaccrue from the day following the date of card crediting untill the date preceding the date of returning the amount to the customer, the date of withdrawal of the amount on any grounds.
7. The Bank acts as a tax agent and has the right to calculate and pay tax on income (10%) from the interest received for facilities available on the account.
8. In order to activate SMS service and e-mail address, you need to visit any branch of the Bank and fill in the appropriate application. Don’t forget to take ID document.
9. Card is provided to the client within 2-5 banking days after submitting the application to the Bank and after signing the maintenance agreement.
10. The client is also given an envelope with special PIN code inside. The PIN code must be used by the client only, who must keep the PIN code access impossible for the third parties. It is recommended to keep the PIN code away from the card.
11. The card and PIN code is activated by the Bank within 1 business day after the cardholder receives the card.
12. Upon the expiration of validity term the cards are re-issued by the consent of the cardholder within 2-5 business days after the date of respective application.
13. Transactions through the card can be made in both card account currency and other currency, at the exchange rate set by the Bank for the given day of transaction.
14. The Bank is liable for loss incurred due to difference as a result of such foreign exchange.
15. All fees are charged in Armenian drams. Fees applicable on cards in foreign currency shall be charged in accordance with the exchange rates set by the Bank as of the given date.
16. The rights of the account holder to manage the card account and the cash facilities available thereon, can be restricted on the basis of application presented by the compulsory law enforcement or tax authorities made on the basis of a court decision.
17. On the basis of a court decision the compulsory law enforcement and tax authorities may confiscate facilities without the instruction of the account holder.
18. In case there are loan obligations between the Bank and the account holder the cash facilities will be charged from the account without further authorization, in order provided by the loan agreement.
19. In case of disclosing discrepancies in the transactions related with the account the client may appeal to the Bank within 15 days period after receiving the account statement. The statement is considered accepted by the Bank if no appeal has been received within the mentioned period. The appeal is submitted to the Bank in the form of written application. The Bank proceeds the appeal received in due time, by performing actions applicable by the local and international payment system.
20. If the card is lost, the client must within the possible shortest period through a phone call or other applicable way notify:
✓ “ArmenianCard” CJSC processing center, calling on 24 - hour phone number (010) 592222 or
✓ Call center of the Bank on (010)59 33 33 phone number, from 09:00 till 22:00 on business days, from 09:00-18:00 on Saturdays and Sundays, or
✓ visit any branch of the Bank with ID document
Operations through the card will be immediately suspended in case the Bank gets notice from the customer about losing the card.
After the card is lost, the Bank isn’t liable for the harm caused to the cardholder, until the Bank is given a notice about the loss.
After the card suspension, the client must visit the Bank and submit written application, on the basis of which the Bank should days provide a new card to the client within 2 -5 business days. Details are available in the Bank’s rules for maintenance of payment card, by the following link: Rules.
21. The card service is terminated before the expiration date and the card account is closed according to the cardholder's written application. The card account balance is returned to the customer. The card must be returned to the bank.
22. In case the account is not used throughut a year after closing the card, and the card account balance is less than AMD 1000, or equivalent foreign currency, the account will be closed on the initiative of the Bank, by charging fee equivalent to the balance available on the account.
23. Notice: the interest amounts with respect to the customer’s account balance are calculated on the basis of the nominal annual interest rate. The nominal interest rate indicates how much interest would the client gain given the interest amounts and other payments were paid to him/her on time and in the defined amounts. The annual interest income calculation procedure is available: Calculation of Annual interest income.
24. Additional fees can be applied by the bank, which carries out the maintenance, in case of cash withdrawals from ATMs and POS terminals of other banks.
25. For card to card transactions made through ATMs of other banks, additional fee may be applied by the bank, which carries out the service of the given ATM.
26. 3D Secure information security system is applied for the transactions carried out through cards in virtual environment. In case ofmaking any transaction through the card it is necessary to pay attention to identification verified by the payment system (For Visa Verified by Visa, for Mastercard verified by Mastercard SecureCode, for ArCa verified by ArCa SecurePay). The Bank is notliable for transaction failure, as a result of which 3D Secure security code was not received, as well as for any technical reason or any reason beyond the Bank’s control.
27. In order to receive a payment card you need to present the following documents:
✓ Payment card application,
✓ Identity document
✓ Social service number or reference on non receiving SSN
28. Any other provisions with regard to use, maintenance, security, claims of transaction carried out through the cards, which are not included in this information bulletin, shall be the same as stipulated by the Rules, respective agreements on issuance, provision and maintenance of payment cards by and between the Bank and the cardholder, internal legal acts and the rules of the Bank and the Rules of payment and settlement systems (ArCa, Visa, Mastercard).
29. Prior to concluding an agreement the Bank must provide the customer with the Rules.
30. Return of funds available on card account is guaranteed by the RA Law on “Guarantee of Remuneration of Bank Deposits of Physical Entities”.

Remuneration of bank deposits of “ID Bank” CJSC to individuals is guaranteed by “Deposit guarantee fund of Armenia” in the amount subject to remuneration, particularly:

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Currency

If you hold only a dram denominated deposit with the same bank

If you hold only a foreign currency denominated deposit with the same bank

If you hold dram and foreign currency denominated deposits with the same bank

If the dram deposit amount exceeding five million Armenian drams

If the dram deposit amount doesn’t exceed five million Armenian drams

Maximum amount of guaranteed deposit

10 million Armenian dram

5 million Armenian dram

10 million Armenian drams (only the dram denominated deposit will be guaranteed)

5 million Armenian drams
(the dram denominated bank deposit will be guaranteed entirely, and the foreign currency denominated bank deposit - by the difference between five million Armenian drams and the remunerated dram denominated bank deposit)   

General provisions

1. Prior to concluding loan agreement the customer is provided personal paper of essential terms of the loan, in which the personal terms and conditions of the loan to be provided are indicated. 2. A client has the right to unilaterally terminate the loan agreement without any reasoning within 7 (seven) business days (time to think) after signing the loan agreement by returning the received overdraft amount in full and paying interests calculated in accordance with the annual nominal interest rate as defined by the agreement. In case of early repayment, the Bank’s income-generating payments which constitute to the total lending cost in terms of the client are decreased proportionally
3. In case of early repayment, the Bank’s income-generating payments which constitute to the total lending cost in terms of the client are decreased proportionally.
4. The client also has the right to fulfil (repay) its contractual liabilities ahead of schedule irrespective of the circumstance whether the agreement provides such a right or no.
5.Loan interest is calculated on the basis of nominal interest rates. The loan interest is calculated with regard to actual balance of the loan.
6. The annual actual interest rate indicates how much the loan would cost the client given the interest amounts and other payments are paid on time and in the defined amounts.
7. The order of calculation of annual nominal interest rate is presented here: Instruction on calculation of annual nominal interest rate.:
8. For foreign exchange loans the calculation of the actual interest rate is based on the exchange rate published on the CBA official site as of the date of the loan. Actual interest rate can be changed depending on the change of the value of the exchange rate published on the official site of the CBA.
9. For foreign exchange loans the interest calculated with respect of the principal amount can be paid in the currency of the loan, if requested by the borrower.
10. For foreign exchange loans the changes of the foreign exchange rate can affect the repayment of the loan.
11. In case of failure to make the interest and principal payments the pledged assets and/or cash facilities of the client can be confiscated in an order prescribed by law, and the Bank sends the information about the client to the credit bureau within maximum three business days where the client’s credit history is built. Once a year the client has the right to receive information on his/her credit history free of charge.
12. Bad credit history can prevent a customer from getting a loan in the future.
13. In case the client fails to perform its obligations, the latter’s obligations may be paid at the expense of the client’s other property.
14. Repayments of overdue liabilities are made in the following order: confiscation expenses, including judicial expenses (if applicable), interest penalty, overdraft principal amount penalty, interests, service fee and commissions /if applicable/ and loan amount. The Lender has the right to unilaterally change the order of repayments mentioned in this paragraph at any time.
15. Disputes arising between the Parties can be settled through court or by means of the Financial system mediator (as prescribed by RA law on “Financial System Mediator”): address – 15 M. Khorenatsi St. Yerevan 0010, “Elite Plaza” business center, 7th floor, e-mail – info@fsm.am, phone number – (+37460) 70-11-11, fax – (+37410) 58-24-21. Moreover, in case the amount of property claim does not exceed 500 000 (five hundred thousand) AMD or equivalent sum in foreign currency, the decision of the Financial System Mediator cannot be appealed by the Bank.
16. For the purpose of proper study of the client in accordance with the RA law “On combating money laundering and terrorism financing” the Bank may require additional documents or information on the “know your client” principle.
17. 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 client to be a US taxpayer.
18. 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.
19. The conditions on providing statements, their copies, references throughout the term of the loan agreement are available: Tariffs։
20. The list of branches and ATMs of the Bank, information on their locations and working hours can be found through the following link: Branches and ATMs
21. Remote service by the Bank is provided thought IDBanking.am online system the information on the terms and tariffs of which can be found at the following link: Public terms of providing remote banking services.

ATTENTION: THE BANK IS CONTROLLED BY THE RA CENTRAL BANK.


The page was updated 24.03.2020 20:38

The following documents must be submitted to the Bank to receive Fast Credit Lines:


  • ID document    

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

The page was updated 18.03.2019 14:49
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.