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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
    19%-21%
  • Maturity
    up to 36 months
  • Minimum amount
    100 000 AMD
  • Maximum amount
    10 000 000 AMD


The page was updated 07.09.2021 09:55

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.

by Decision N 334-L of the
Management Board of “IDBank” CJSC
as of September 03, 2021
Enters into force starting September 07, 2021

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

10 000 000

For customers without credit history

Four X fixed net income (salary and equivalents)

6.

Annual nominal interest rate

For customers with credit history1

19%-21%

For customers without credit history

21%

7.

Annual actual interest rate2

For customers with credit history

20.89%-23.34%

For customers without credit history

23.26%-23.34%

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 will 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

- Idram Rocket Visa co-branding card, according to the applicable fees available: Idram Rocket VISA Information bulletin
- Digital payment card Visa Digital, according to current tariffs, following this link: Visa Digital Information Bulletin

20. Credit line extension
1) The term of credit line can be extended by the Bank, according to the lending conditions as provided by the information bulletin of the current credit type, acting in the Bank as of the day of loan term extension, according to the Bank’s internal assessment.
2) The credit line of the client can be extended as a loan, by setting an equal repayment regime (annuity), according to the Bank’s internal assessment.

Requirements to the borrower/guarantor

21.

Status

RA citizen physical person

22.

Eligible age

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

23.

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
the customer should not be included in the list of unwanted customers of the Bank3

Fine, penalty

24.

On overdue credit line amount, per day

0.1%

25.

On overdue interest, per day

0.1%

26.

Early repayment fee

Not specified

27.

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

28.

Positive factors for provision of the loan

1) Good credit history

2) Enough cash flows

3) Good score

29.

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) Absence of email address of the client
7) Other factors

30.

Maximum term for decision-making

  • During 1 business day in case of applying to the Bank branch
  • Up to 5 minutes if applying online

31.

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

  • During 1 business day in case of applying to the Bank branch

    The customer may be notified either within the territory of the Bank, by phone call or through e-mail
  • Up to 5 minutes if applying online

32.

Maximum validity term of decision

  • 15 business days, moreover, in case of non-issuance or non-provision of the credit line during the 15 business days mentioned, making an additional ACRA request of the customer no later than the next 3rd business day is allowed (without requesting a new application by the client or the client’s consent to make an ACRA request) and reaffirm the credit line if the customer does not currently have overdue and/or classified obligations. More than one reaffirmation is prohibited.
  • Up to 5 minutes if applying online

33.

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

All branches of the Bank or online;

  • «IDBanking» online platform - IDBanking.am and
  • «Idram&IDBank» mobile application
  • «Banking.idram.am» online platform



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 The customer should not be included in the list of unwanted customers of the bank. the legal relations regarding the classification of the bank as an unwanted customer are regulated by the procedure "Оn defining the criteria of classification of a client as unwanted and management of relations with them".

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 07.09.2021 09:56

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.