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Gold secured loans Loans at 0% annual interest rate

Loans at 0% annual interest rate

Gold secured loans

Gold secured loans at 0% annual interest rate for 3 month maturity maximum


  • Interest rate
    0%
  • Maturity
    3 months
  • Minimum amount
    N/A
  • Maximum amount
    AMD 30 000 000


The page was updated 01.07.2019 15:40

Loans at 0% annual interest rate

Gold secured loans
 
 

General terms and conditions

Maximum amount of the loan AMD 30 000 000
Repayment method Repayment of principal amount at the maturity
Maturity From 90-th to 93-rd day inclusive
Annual interest rate * 0%
Upfront fee at the time of extending the loan (from the agreement amount) 2%
Maximum loan to collateral ratio 100%

Remaining terms of loan as per “Gold Standard” loan. 

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.

How to calculate the annual actual interest rate for gold secured loan extended in the frames of the offer:
• Loan amount - 2 000 000 AMD
• Interest rate - 0%
• Maturity - 3 months 
• Upfront fee - 2% of the contracted amount
• Method of repayment - repayment of principal amount at maturity
• Effective interest rate 8.35%

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

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

Gold purity

Price for 1 gram

375

8 700 AMD

500

11 500 AMD

560

12 900 AMD

585

13 500 AMD

750

17 300 AMD

875

20 200 AMD

900

20 700 AMD

958 and more

22 100 AMD

 

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).

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.

Prior to execution of loan agreement the Bank must provide the customer individual card, according to Regulation 8/05 on the Procedure, Terms, Forms and the Minimum Requirements for Communication Between Bank and Depositor, Creditor and Consumer





The page was updated 03.09.2019 08:25

The following documents should be submitted to the Bank to get gold secured loan:


  • ID document    

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


  • • Receipt of repayment of gold secured loan transferred from other banks, credit or other organization (must be in credit file)

The page was updated 13.08.2018 14:54
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.