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Student Loans

Loans for students

Take the student loans offered by "ID Bank" CJSC․ During the course of the study borrowers pay only interest (up to 4 years) and after the completion of the study, the principal amount of the loan and interest payments are paid off equally. 

  • Interest rate:
  • Maturity:
    up tp 10 years
  • Minimum amount

    Not specified

  • Maximum amount

    2 800 000 AMD

The page was updated 18.06.2020 13:43

Student loans

Take the student loans offered by "ID Bank" CJSC.

by Decision No 253-L of the
Management Board of “IDBank” CJSC
as of June 25, 2021
Enters into force starting July 05, 2021 

The terms mentioned in the bulletin may have been amended.
If you are looking through the bulletin on the website of the Bank, please pay attention to the action date of the information bulletin.
If you are looking through the bulletin in a paper form, please visit the Bank’s website at for detailed information (paying attention to the action date of the information bulletin), apply to any branch of the Bank or contact the Bank’s Call center at: (+37410) 59 33 33 , (+37460) 27 33 33.

Information bulletin of Student loans
(re-financed by “Home for youth” UCO CJSC)

General conditions


Purpose of the loan

Payment of tuition fees for students of Bachelor’s and Master’s degrees, as well as Clinical residency of RA State Higher Educational Institutions and those accredited by the RA


Currency of the loan



Minimum term of the loan

12 months


Maximum term of the loan

Term of studies¹ + 6 years, no more than 10 years

(the loan may be provided for a shorter period upon the client’s consent only)

¹the term of studies shall be deemed to the be the years of studies by Bachelor’s, Master’s program or Clinical residency; moreover, the term of military service in the Armed Forces of the RA MD is not an interruption of the studies


Minimum loan amount

Not specified


Maximum loan amount

700 000 AMD, but no more than the amount of one year tuition fee

Moreover, 1 loan only may be provided for each academic year


Total amount of loans provided during the term of studies  

For 4 academic years, maximum 2 800 000 AMD


Method of repayment

monthly equal payments, moreover, during the studies the borrowers pay interest only (up to 4 years), while after graduation the principal amount of the loan and interest payments are paid off equally


Annual nominal interest rate1

9%, of which 2% to be subsidized by the government for all students, 3% to be subsidized by the government for students with excellent progress for the last year

Within the framework of the 14th program of the Government of the Republic of Armenia “Neutralization of Economic Consequences of Coronavirus”, the following conditions will apply for subsidizing the loans from May 1st to December 31st, 2020:

1. Students whose total average quality grades are 80% and higher starting from the beginning of study to the first term of the 2019-2020 academic year, will get full state subsidiary of the interest rate of their new and existing loans in the period 01/05/2020-31/12/2020.
2. Students whose total average quality grades are less than 80% starting from the beginning of study to the first term of the 2019-2020 academic year, will get 5% state subsidiary of the interest rate of their new and existing loans in the period 01/05/2020-31/12/2020.


Annual actual interest rate2



Loan disbursement/service fee

Not specified


Opening and maintaining of current account

Free of charge


Fine/penalty for overdue loan /interest

0.1% daily


Early repayment fee

Not specified


Disbursement method

Non-cash, by transferring the amount on the account of the HEI



1 guarantor at least

Requirements to the borrower/guarantor


Status of the borrower3

1) RA citizen physical person

2) Bachelor’s or Master’s program students or clinical residency students of paid education system of RA state HEI or state accredited HEI


Requirements to the guarantors

1) the guarantor/ at least one of the guarantors (if there are more than 1 guarantors) must be a parent/custodian of the borrower (for parentless and adult students the guarantor may be the third party)

2) the guarantor must have an income (in case of more than one guarantor at least one of them must have an income)

3) By the date of loan application, the guarantor must be an adult of 21-68 years


Requirements to the credit history (for the first and each next stage of providing the loan) of the borrower/ guarantor

1) by the date of loan application, the borrower/guarantor must not have any overdue obligations (loan, credit line, overdraft, guarantees, etc.)

2) aggregate days on overdue obligations of the borrower/guarantor over the year (365 days) preceding the date of application must not exceed 30 days

3) the guarantor had no nonperforming loan obligations over the two years preceding the date of loan obligations

4) No credit history is acceptable

 5) The customer should not be included in the list of unwanted customers of the Bank.

Other conditions


Positive factors for loan provision

Good credit history


Factors for loan rejection

1)      Bad credit history,
2) providing of false or unreliable information,
3) provision of such information, which puts return of the credit line into suspicion,
4) the loan, which has been provided to a student within the scope of this program before, was recognized as unqualified by a refinancing organization

5) other factors


Maximum term for making decision

Maximum 2 business days after submitting all required documents to the Bank


Terms for notifying the borrower about the decision made

Maximum 1 business day after making decision

The borrower may be notified of the loan decision in the Bank’s premises, by phone call or e-mail


Term during which the loan is provided

Maximum 1 business day after making positive decision


Maximum term, during which the decision remains valid

15 business days


Place of acceptance, registration and providing the loan application

All branches of the Bank


Documents to be submitted by the client /guarantor to the Bank

According to annex 1.1

Annex 1.1

List of documents required for the provision of student loans

Documents required from the borrower, guarantor (parents, custodian, third party) and the information necessary for the examination of loan application

For and term of submission – before submission of the given document on each stage

Form of maintaining in the bank


Loan application

Original copy

Original copy


Borrower’s (student’s), guarantor’s (parents, custodian, 3rd party) identification document – passport, ID card or any other temporary ID document issued by the RA Police of the RA Government

Original copy

Copy (scanned)


SSN/reference on non-having SSN of the borrower (student), guarantor (parents, custodian, 3rd party)

Original or electronic copy

Copy (scanned)


Marriage certificate (if any) of the borrower (student), guarantor (parents, custodian, 3rd party)

Original copy

Copy (scanned)


Birth certificate of the borrower (student)

Original copy

Copy (scanned)


Document set by the RA legislation (invoice, transfer account, etc.) provided from the educational institution for making payment of the tuition fee of the borrower (student)

Original copy

Original copy


Statement from the HEI, which must include information on the student’s faculty, department (full-time, distant), specialization and the size of the tuition fee, amount due for the given academic year, bank account of the HEI, year and month of expected graduation. For the education with excellent grades the statement must include information on such excellence with the indication of certain year.


Original copy

Original copy

 8.  e-mail address of the client    active  


Proof of income of the borrower (student), guarantor (parents, custodian, 3rd party)*

(the proof of the income is required if the latter has an income)



Employment reference (references) from the workplace


Original copy, 30 days

Original copy


Real estate lease agreement signed in the procedure provided by the law


Original copy

Copy (scanned)


Reference from a financial organization on transfers periodically received throughout at least 12 months preceding the date of loan application, bank account statement


Original copy, 30 days

Original copy


Proof of providing paid works or rendering paid services (service agreement, reference, declarations issued by physical persons)


Original copy

Copy of the agreement (scanned) while the original copies of the other documents


Reference on pension for a long term service (officers of the Police ministry of defence, penitentiaries, other respective institutions, pedagogues, judges, etc.) pension for losing bread winner, etc. (other than old age pension)


Original copy

Original copy


List of documents for clients involved in entrepreneurial activities or agriculture


See Annex 1.2

The Bank may require other documents as required



Documents provided by point 8 hereof are presented by the type of income received by the client (at least one or several or all together)


Annex 2

List of documents for clients involved in entrepreneurial activities (including IE) or agriculture

1․ Taxpayer identification number (TIN) and the State registration certificate Copy (electronic or paper form)
2․ Charter (if available)
3․ Permit (license) for doing such type of business, if according to the RA legislation special permit is to be provided by competent authorities for the given type of business
4․ Financial and tax statements for the last 1 year approved by the tax authorities
5․ Income and expenditure statements for the last 12 months
6․ Internal documents – proof of income of the organization (if necessary)
7․ Reference on receipt of dividends (if any), cash withdrawal order, and bank account statement (if necessary) Original copy

[1] The annual interest rate is a subject for revision if the loan is not refinanced by an organization or the refinancing organization  has changed the refinancing interest rate.

[3] The loan may not be provided to those students loans provided to whom within the scope of this program have been recognized by the refinancing organization as unqualified before.


1. Before conclusion of the loan agreement the Bank provides the client with the individual sheet of essential loan terms with presentation of the individual terms and condition of the loan to be provided to the client.
2. The customer has the right to dissolve the loan agreement unilaterally without any reasons within 7 (seven) business days after the date of agreement (time to think) by returning the full amount of the loan he/she had received and by paying interest accrued in accordance with the annual actual interest rate.
3. In case of early repayment of the loan the payments generating the Bank’s income, included in the total expense of lending, are reduced proportionally.
4. The client has the right to fulfil his/her obligations under the loan agreement (repay) ahead of schedule regardless of whether such a right is provided by the loan agreement or not.
5. Loan interest amounts are calculated based on the nominal interest rate. The loan interest amount is calculated on the actual loan balance.
6. Actual annual interest rate indicates how much the loan would cost the client in case of making all the interest amount and other fee payments at defined periods and amounts.
7. The order of calculation of actual annual interest rate is presented at the following link: Instruction on calculation of actual annual interest rate.
8. In case of foreign currency loans the calculation on the actual annual interest rate is based on the exchange rate published on the RA Central Bank’s official website at the moment of loan provision. The Actual interest rate may change depending on the change of the exchange rate published on the RA Central Bank’s official website
9. In case of foreign currency loans, the interest amounts calculated on the principal amount of the loan can also be paid in the loan currency per client’s request.
10. In case of foreign currency loans changes of foreign currency exchange rates can affect loan payments.
11. In case of failure to make interest amount and principal amount payments on time the pledged property and/or funds can be confiscated in an order defined by law, and the Bank shall send the information about the client to the credit bureau not later that within three business days where the client’s credit history is generated. The client has the right to receive his/her credit history from the credit bureau free of charge once a year.
12. A poor credit history can prevent the client from receiving loans in the future.13. In case if the subject of pledge is insufficient to cover the obligations while repaying liabilities at the expense of the pledge in case if the borrower fails to fulfil his/her obligations, the liabilities may be repaid at the expense of the client’s other properties.
14. Repayment of overdue liabilities is performed in the following order: expenses related to confiscation of funds, including judicial expenses (if applicable), interest amount fines, loan amount fines, interest, servicing fee and commission (if any) and loan amount. The lender has the right to change the sequence of payments mentioned in this paragraph at any time.
15. Disputes arising between the parties can be resolved in a judicial order or through the Financial System Mediator (in accordance with the RA law “On Financial System Mediator”), located at 15 M. Khorenatsi St, “Elite Plaza” business center, 7th floor, Yerevan 0010, RA, email –, telephone – (+37460) 70-11-11, fax – (+37410) 58 24 21. Moreover, in case if the amount of the property claim does not exceed 500,000 (five hundred thousand) AMD or equivalent in foreign currency, the decissions of the financial system cannot be challenged by the Bank.
16. For the purpose of proper study of the client as defined by RA law on “Combating money laundering and terrorism financing” the Bank may require additional documents or information based on “Know Your Client” 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 identification of the fact of the client being a US taxpayer.
18. The client has the right to communicate with the Bank through a preferred means of communication: e-mail of 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 and references throughout the term of the loan agreement can be found at the following link: Tariffs
20. The list of branches and ATMs of the Bank, information on their locations and working hours can be found at the following link: Branches and ATMs.
21. Remote servicing of physical entity clients by the Bank is provided thought the online system. The order and tariffs on rendering remote servicing are presented in “Public terms on remote banking services.


The page was updated 12.07.2021 10:09

The following documents must be submitted to the Bank to receive Student loan: 

ID document

    Public service number /reference on non-receiving the PSN 

Payment document from the educational institution (invoice or transfer account number), as prescribed by the RA legislation and required to make the transfer

Reference from the Educational institution, which should include: faculty, the year  of studies, tuition size (the balance for the given academic year), number of bank account of the Educational institution, the year and month of expected graduation, remark on excellent progress (if any) for the last year/semester. 

Property certificate of the guarantor and/or employment reference, where monthly fixed salary should be specified, and the salary actually received during the recent 6 months. 

Guarantee of at least 2 persons (where at least one should be one of the parents or the guardianship of the borrower, the guarantor must be employed, for which employment proof is needed, or the guarantor must be owner or co-owner of real property). 

Other documents upon necessity. 

The page was updated 26.10.2018 11:48
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.