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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 48 months
  • Minimum amount
    100 000 AMD
    or
    200 USD
  • Maximum amount
    5 000 000 AMD
    or
    10 000 USD


The page was updated 04.04.2019 17:42

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

General terms and conditions

1.

Purpose of the loan

Other

2.

Currency

AMD

USD

3.

Minimum amount of the loan

100 000

200

4.

Maximum amount of the loan*

5 000 000

10 000

5.

Annual nominal interest rate

17.9-21.9%

14.9-18.9%

6.

Minimum maturity  (months)

1

7.

Maximum maturity * (month)

48

8.

Method of providing the loan

Non-cash through current account

Non-cash through payment cards

9.

How to repay the loan and interest amounts

Fixed monthly instalments (annuity method)

10.

Security

1) Assessment of creditworthiness

2) Guarantee of a physical person, upon the necessity

* Maximum amount, maturity and annual interest rate shall be determined according to the customer’s score.

                        Commissions

11.

Loan application processing fee

N/A

12.

Upfront fee

N/A

13.

Loan account service fee

N/A

14.

Current account opening and cash withdrawal fee

Free

15.

Payment card tariffs

1. Arca Classic, no annual service fee is applicable, the other tariffs according to the Bank’s applicable tariffs

2. Other types of cards issued by the Bank (other than Visa Classic/Visa Gold debit and ID Transfer cards) according to the Bank’s applicable tariffs.

Requirements to the borrower/guarantor

16.

Status

RA citizen physical persons

17.

Eligible age 

On the date of application the borrower/guarantor must be at least 21, and maximum 65 by the end of the term

18.

Borrower/ guarantor credit history requirements

The customer must have good credit history (absence of credit history is not acceptable)

Fine, penalty

19.

On overdue loan, daily

0.1%

20.

On overdue interest, daily

0.1%

21.

Early repayment of the loan

N/A

22.

Why early repayment may be required

The Bank is eligible to claim early repayment if:

1) The customer discards the payment card (for USD denominated loans)

2) Information provided for the loan is not accurate or true

3) The customer failed to fulfill his/her obligations under agreement

4) Other, according to the agreement

Other terms and conditions

23.

Positive factors for loan

1) Good credit history

2) Good assessment of creditworthiness 

24.

Why the loan may be rejected

1) Bad credit history

2) Negative assessment of creditworthiness

3) Provision of inaccurate or untrue information

4) Provision of such information, which puts return of the loan into suspicion

5) Other factors

25.

Maximum term for making decision

1 business day

26.

Maximum term for giving notice to the customer about the decision made with regard to the requested loan

1 business day

27.

Maximum term, during which the decision remains valid

15 business days

28.

The place for acceptance, formulation and issuance of the loan application

All branches of the Bank

How to calculate actual interest rate of Fast Loan
Loan amountt։ 1 000 000 AMD
Annual interest rate: 17.9%
Maturity: 48 months
Effective interest rate: 19.44%


Notice: 

The interest amount accrued to the principal may be paid in the currency of the credit line, if the borrower requests. 

How to calculate interest
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 No penalty is applied for early repayment

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 05.04.2019 10:14

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.