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Gold secured loans Special offer

Special offer

Gold secured loans

On or before January 18, 2019! Get loans secured with gold quickly and on beneficial terms, at 8 % annual interest rate.       


  • Interest rate
    8%-12.5%
  • Maturity
    3 and 6 months
  • Minimum amount
    30 000 AMD 
    or 75 AMD
  • Maximum amount
    30 000 000 AMD
    or or equal US dollars


The page was updated 31.10.2018 17:35

Special offer 

General terms of gold secured loans extended within the special offer
 
 

General terms

Maximum amount 30 000 000 Armenian drams
Repayment method Discount  (interest at the time of receiving the loan and the principal amount at the maturity) 
Maturity from 90 till 93 –day inclusive from 181 till 183day inclusive
Annual interest rate Armenian drams 11% 12.5%
US dollars 8% 9.5%
Upfront fee at the time of providing the loan (from the amount of the loan) 0.5%, 
minimum - 1 000 Armenian drams
1%, 
minimum - 2 000 Armenian drams
Maximum loan to collateral ratio 100%    

* the other terms of the loan are according to the applicable terms of “Gold Standard” type of loan 

Card type ArCa Classic / Visa Electron / Maestro Cirrus
Cashing fee Not charged
Annual card service fee 1 000 AMD
Other service rates According to applicable rates of the Bank

Fines and penalties

Late  loan payment fee (day) 0.1%
Late interest payment fee (day) 0.1%
Early repayment fee Not specified

- The Bank accepts standard gold bullions, gold jewelry,  gold bars as the subject of collateral
- The Bank doesn’t accepts white gold, jewelry the 30 % and more of which is made of white gold, or jewelry, which cannot be weighted without the part of the white gold.
- The value of  artistic integrity, precious and semi-precious  stones is not taken into consideration.
- These general terms and conditions should not refer to the loan secured with white gold, which is extended in Tigran Mets branch, according to the term and conditions independently stipulated for such type of loan.
- Appraisal of the property to be pledged is carried out by a jeweler –expert, according to the rates applicable by the Bank as of the given day.  

Other terms and conditions

Factors, which can have positive impact on the extension of the loan Compliance with the established terms and conditions
Why the  loan may be rejected · Existence of classified loan obligations as of the date of providing the loan
· Failure to provide required documents,
· Suspects with regard to the person or ID document,
· Suspects with regard to the purity of gold (during the check)
· False or untrustworthy information and false documents,
· Provision of such information, which puts the information presented/submitted by the client in question
· Provision of such information on the client, which puts the repayment of the loan in question
Maximum term of taking decision The day of submitting loan application
Term of submitting information to the client with regard to the decision on the loan The day of submitting loan application
Term of loan disbursement The day of submitting loan application
Place of accepting the loan application All branches of the Bank, except for "Vardanants" branch
Place of execution  and disbursement of the loan All branches of the Bank, except for "Vardanants" branch

[[1] The client should sign declaration on existing loan, if the loan is transferred from pawn shops and credit organizations, which are not members of ACRA system.
[[2] As a proof of performing activities the individual must present lease agreement on the place of economic activity (not necessarily be notarized).  

Example:
• Loan amount - 500 000 AMD
• Interest rate - 18%
• Maturity - 24 months 
• Single time fee - 0 AMD
• Effective rate - 19.56%

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

7 300 AMD

500

9 800 AMD

560

10 900 AMD

585

11 500 AMD

750

14 700 AMD

875

17 100 AMD

900

17 600 AMD

958 and more

18 800 AMD

 
Price for 1 gram

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 23.10.2018 10:15
The following documents should be submitted to the Bank to get gold secured loan “Special Offer”

  • ID document    

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

The page was updated 22.11.2017 12:39
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.