Maturity3 and 6 months
Minimum amount30 000 AMD
or 75 AMD
Maximum amount30 000 000 AMD
or or equal US dollars
|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%|
|Upfront fee at the time of providing the loan (from the amount of the loan)||
minimum - 1 000 Armenian drams
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|
[ 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.
[ As a proof of performing activities the individual must present lease agreement on the place of economic activity (not necessarily be notarized).
• 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:
Price for 1 gram
|7 400 AMD|
|9 900 AMD|
|11 000 AMD|
|11 500 AMD|
|14 800 AMD|
|17 300 AMD|
|17 800 AMD|
958 and more
18 900 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.
Public service number /reference on non-receiving the PSN