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Fast loans in a few minutes

Fast Loans

Loans in a few minutes

The loan is provided without a collateral, as well as without an income statement. To get a loan it is only necessary to have a positive credit history and an appropriate assessment of creditworthiness


  • Annual nominal interest rate
    14.9-21.9% 
  • Maturity
    up to 60 months
  • Minimum amount
    100 000 AMD
    or
    200 USD
  • Maximum amount
    5 000 000 AMD
    or
    10 000 USD


The page was updated 03.07.2020 09:47

Fast Loans

Loans in a few minutes

No loan application review fee; the loan is provided without a collateral, on the basis of proof of income; to receive the loan you need to have a good credit history and appropriate credibility score.

Approved
by Decision No 373-Լ of the
Management Board of “IDBank” CJSC
as of September 6, 2019
Enters into force starting September 16, 2019

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 at www.idbank.am for detailed information (paying attention tothe action date of the bulletin), apply to any branch of the Bank or call the Bank’s Call center: 010 593333 or 060 273333.

Information bulletin for unsecured loans

General terms and conditions

1.

Type of loan

Loan

2.

Purpose

Other

3.

Currency

AMD

USD

4.

Minimum loan amount

100 000

200

5.

Maximum loan amount

For customer with credit history 1

5 000 000

10 000

For customers with no credit history

Six fold fixed net income, provided that the fixed net income of the customer (salary and equivalents) is less than AMD 280.000

Eight fold fixed income, maximum AMD 5 000 000, or USD 10 000, provided that the fixed net income of the customer (salary and equivalents) is AMD 280.000 and over

6.

Annual nominal interest rate

For customers with credit history 1

17.9%-21.7%

14.9-18.9%

For customers with no credit history

21.7%

18.9%

7.

Annual actual interest rate2

For customers with credit history 1

19.44% -23.99%

16.28% - 21.78%

For customers with no credit history

23.99%

20.96% -21.96%

8.

Minimum loan maturity

12 months

9.

Maximum loan maturity*

60 months

10.

Method of disbursement

Noncash through current account

Noncash through payment card

11.

Loan and interest repayment method

Fixed monthly payments

(Annuity)

12.

Security

1) Credibility score,

2) Cash flows

3) Guarantee of a physical person, upon necessity,

Commission Fees

13.

Loan application review fee

Not specified

14.

Loan disbursement lump sumfee

Not specified

15.

Loan account service fee

Not specified

16.

Opening of current account and loan withdrawal fee

Free of charge

17.

Tarrifs for payment cards

1. Arca Classic, in which case no annual service fee is specified, and the other tarrifs according to the information bulletin of Arca Classic card, applicable at the Bank

2.    Other cards issued by the Bank (other than Visa Classic/Visa Gold debit and ID Transfer cards) according to the applicable rates, available via the following link:

Information bulletins for cards

18.

Security

Not required

Requirements to the borrower/guarantor

19.

Status

RA citizen physical person

20.

Age eligibility

The borrower/guarantor should be 21 at least as of the date of application, and maximum 65 by the maturity date

21.

Requirements to the credit history of the borrower/guarantor

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 the loan provision

Fine, penalty

22.

Overdue loans, per day

0.1%

23.

Overdue interest, per day

0.1%

24.

Early repayment fee

Not specified

25.

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

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

1)     the customer withholds from the payment card (for loans denominated in USD)

2)    information presented to get the loan is false or inaccurate

3)    obligations provided by the agreement failed to be performed

4)    other grounds, according to the agreement

Other terms related with the application

26.

Positive factors for provision of the loan

1) Good credit history,

2) Good Score

3) Enough cash flow

27.

Rejection factors

1) Bad credit history,

2) Bad score,

3) Insufficient cash flows

4) Provision offalse or unreliable information,

5Provision of such information that doubts the return of the loan

6) Other factors

28.

Maximum decision-making term

During 1 business day

29.

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

During 1 business day

The customer may be notified either within the territory of the Bank, by phone call or through e-mail

30.

Validity term of decision

5 business days

31.

Venue for loan applications to be accepted, processed and provided

All branches of the Bank

The list of documents to be submitted by the Customer to the Bank

1.

ID document of the customer/guarantor

2.

Social card/social service number (SSN)/ ID card, or a statement on non receiving SSN

1 the maximum loan 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.

General provisions

1. Prior to concluding loan agreement the customer is provided individual sheet 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 client’s total lending cost,t 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 not.
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 paid on time 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 loans in foreign currency, the calculation of the actual interest rate is based on the exchange rate published on the official website of CBA at the moment of loan disbursement of the loan. Actual interest rate can be changed depending on the change of the value of the exchange rate published on the official website of the CBA.
9. In case of loans in foreign currency, the interest accrued on the principal amount can be paid in the currency of the loan, if requested by the borrower.
10. In case of loans in foreign currency, the changes of the foreign exchange rate can affect the repayment of the loan.
11. In case of failure to make the loan and interest amount payments on time, the pledged funds and/or property of the customer can be confiscated in an order prescribed by law, and the Bank will 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.
12. Bad credit history can prevent a customer from getting a loan in the future.
13. In case the client fails to perform his/her obligations, the latter’s obligations can be paid at the expense of other property of the client.
14. 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.
15. Disputes arising between the parties according to the RA legislation can be settled through court or through 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 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 customer” 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 identifying the clients who are being US taxpayers.
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:Information bulletin on tariffs.
20. The list of branches and ATMs of the Bank, information on their locations and working hours are available:: Branches and ATMs.
21. Remote service by the Bank is provided through IDBanking.am online system. The terms and conditions are 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 09:47

The following documents must be submitted to the Bank to receive Fast Loan:


  • ID document

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

The page was updated 04.04.2019 17:58
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.