Chat with us, powered by IDBank

Rocket online loan



Apply via the Idram app or idbanking.am platform and receive up to 5 million AMD loan at a very high speed without any commission.
Download Idram in the App store or in the Play market.


  • Annual nominal interest rate
    17.9%-21.7% AMD
  • Maturity
    up to 60 months
  • Minimum amount
    100 000 AMD
  • Maximum amount
    5 000 000 AMD
Receive now

The page was updated 03.07.2020 09:45

ROCKET online loan

Online loan at a very high speed without any commission

Approved
By Decision No431-Լ of the
Management Board of “IDBank” CJSC
As of October 3, 2019
Enters into force starting February 26, 2020

The terms mentioned in the bulletin may have been amended.
If you are looking through the bulletin on the website of the Bank, please pay attention to the action date of the bulletin.
If you are looking through the bulletin in a paper form, please visit the Bank’s website at www.idbank.am for detailed information (paying attention to the action date of the bulletin), apply to any branch of the Bank or contact the Bank’s Call center:010 593333 or 060 273333.

Information bulletin for “Rocket” online unsecured loans

General terms and conditions

1.     

Type

Loan

2.     

Purpose

Consumer loan

3.     

Currency

AMD

4.     

Minimum loan amount

100 000

5.     

Maximum loan amount1

For customer with credit history

5 000 000

For customers with no credit history

- Sixfold fixed net income, provided that the fixed net income of the customer (salary and equivalents) is lessthan AMD 280.000,

- Eightfold fixed income, maximum AMD 5000000, provided that the fixed net income of the customer (salary and equivalents) is AMD 280.000 and over

6.     

Annual nominal interest rate1

For customers with credit history

17.9%-21.7%

For customers with no credit history

21.7%

7.     

Annual actual interest rate2

For customers with credit history

19.44% -23.99%

For customers with no credit history

23.99%

8.     

Minimum loan maturity

12 months

9.     

Maximum loan maturity1

60 months

10.  

Method of disbursement

Noncash through current account

11.  

Loan and interest repayment method

Annuity method

12.  

Security

1.        Credibility score

2.        Cash flows

Fees

13.  

Loan application review fee

Not specified

14.  

Loan disbursement lump up fee

Not specified

15.  

Loan account service fee

Not specified

16.  

Opening of current account and loan withdrawal fee

Free

17.  

Insurance

Not required

Requirements to the borrower

18.  

Status

RA citizen physical entity

19.  

Age eligibility

The borrowers hould be at least 21 years old as of the date of application, and maximum 65 years old by the maturity date

20.  

Requirements to the credit history of the borrower

1.     The customer must have a good credit history, or

2.     In case the customer has no credit history, he/she must be a registered employee for at least 6 month period preceding the date of providing the loan

Fine, penalty

21.  

Overdue loans, per day

0.1%

22.  

Overdue interest, per day

0.1%

23.  

Early repayment fee

Not specified

24.  

Grounds, on which the Bank may require early repayment of the loan

The Bank may require early repayment of the loan, if:

1)     Information presented for the loan is false or inaccurate,

2)     Obligations provided by the agreement failed to be performed,

3)     Other grounds, according to the agreement

Other terms related with the application

25.  

Positive factors for provision of the loan

1)     Good credit history

2)     Good Score

3)     Enough cashflow

26.  

Rejection factors

1)   Bad credit history

2)    Bad score

3)    Insufficient cashflows

4)    Providing false or unreliable information

5)    Providing information that doubts the returnof the loan

6)    Other factors

27.  

Maximum decision-making term

Up to 5 minutes

28.  

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

Up to 5 minutes

29.  

Maximum validity terms of decision

Up to 5 minutes

30.  

Venue where applications are accepted, processed and loan is provided

idbanking.am online system and idram mobile application

The list of documents (information) to be submitted by the Customer to the Bank

1.     1

ID document of the customer(data)

2.      

Social card/social service number (SSN)/ ID card (number)


1The maximum loan amount, term and annual interest rate are defined according to the customer’s score
2THE 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.

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 customer 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.
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 nominal interest rate indicates how much the loan would cost the client given the interest amounts and other payments are paidontime and in the defined amounts.
7. The order of calculation of annual nominal interest rate is available: Instruction on calculation of annual nominal interest rate.
8. In case of failure to make the loan and interest amount payments the pledged funds and/or property of the customer can be confiscated in an order prescribed by law, and the Bank shall send the information on 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.
9. Bad credit history can prevent a customer from getting a loan in the future.
10. In case the client fails to perform its obligations, the latter’s obligations can be paid at the expense of other property of the client.
11. Repayments of overdue liabilities are made in the following order: confiscation expenses, including judicial expenses (if applicable), interest penalty, loan 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 any time.
12. Disputes arising between the parties according to the RA legislation 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. KhorenatsiSt. 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 in foreign currency, the decision of the Financial System Mediator cannot be appealed by the Bank.
13. 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 customer” principle.
14. 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.
15. The client has the right to communicate with the Bank through a preferred means of communication: e-mail of 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.
16. The conditions on providing statements, their copies, references throughout the term of the loan agreement are available: Information bulletin on tariffs. 17. The list of branches and ATMs of the Bank, information on their locations and working hours can be found are available: Branches and ATMs.
18. Remote service by the Bank is provided through IDBanking.am online system, the information on the terms and tariffs of which is available: Public terms of providing remote banking services.

ATTENTION: THE BANK IS CONTROLLED BY THE RA CENTRAL BANK


The page was updated 03.07.2020 09:45

The following documents are required to receive ROCKET online loan:


  • ID document

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

The page was updated 17.03.2020 17:23
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.