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Consumer Loans

Citizens of the Republic of Armenia, belonging to 18-70 age group.
Loans are provided for consumer purposes.

 

  • Loan amount: up to 2,000,000 AMD
  • Term: 3-36 months
  • Annual interest rate: 16-22%

Loan interest rate calculation:

Interest rates are calculated on a daily basis, taking 365 days to the actual balance of the loan principal.

The annual loan interest rate depends on loan conditions  (amount, term, loan repayment fee and the number of repayments).

The annual factual interest rate is calculated by the following formula

Where,

  • “A” is the loan amount, (the initial amount of loan provided by the lender to the borrower.
  • “n” is the amount f the loan repayment fee,
  • “N” is the last payment for the loan repayment,
  • “Kn” is the “n”-th amount loan repayment,
  • “Pn” is the period between the date of loan issuance and the n-th repayment, expressed with the number of the days,
  • “i” is the annual factual interest rate, which can be calculated, if the other details of the equity are known from the loan agreement or otherwise.

Up to AMD 500,000 including consumer loans, may be provided without guarantee, and/or pledge; moreover the sum of loans given to one borrower cannot exceed 500,000 AMD, at any moment.

Consumer loans over 500,000 AMD can be provided,

For 500,001-1,00,00 AMD, at least one guarantee or pledge.

For 1,000,001-2,000,000 AMD. at least two guarantees or pledges.

The borrower and the guarantor shall satisfy the following conditions;

  • The borrower and the guarantor shall have no overdue debts,
  • The sum of delayed loan repayment of last 6 months shall not exceed 30 days,
  • The borrower shall have a fixed income
  • The maximum ratio of monthly payments and revenues to all loans (including the ones from other organizations) of the borrower is set at 60%.

Penalties

  • In case of delays of loan interests and/or principle payment, a fine is imposed  at the rate of 0.1% on overdue amount  (overdue loan amount and overdue interest amount), for each day of delay
    • YOU HAVE THE RIGHT TO COMMUNICATE WITH THE FINANCIAL COMPANY WHICHEVER WAY YOU PREFER: THROUGH POSTAL COMMUNICATION OR EMAIL. THE ELECTRONIC SUBMISSION OF THE INFORMATION IS THE MOST CONVENIENT OPTION. IT IS AVAILABLE 27/7, IT EXCLUDES THE RISKS OF LOSING PAPER_BASED INFORMATION AND ENSURES CONFIDENTIALITY.
    • THE COMPANY CAN REQUIRE ADDITIONAL DOCUMENTS OR OTHER INFORMATION FROM THE CUSTOMER BASED ON THE “KNOW YOUR CUSTOMER” PRINCIPLE, DEFINED BY THE RA LAW “ON COMBATING MONEY LAUNDERING AND TERRORISM FINANCING”.
    • www.fininfo.am , “ATTENTION: “YOUR FINANCIAL INFORMATION DIRECTORY” IS AND ELECTRONIC SYSTEM, WHICH MAKES IT EASIER TO SEARCH FOR AND COMPARE SERVICES FOR PHYSICAL ENTITIES AND FACILITATES THE CHOICE OF THE MOST EFFICIENT OPTION FOR YOU”.
    • LOAN INTEREST RATES ARE BEING CALCULATED BASED ON THE NOMINAL INTEREST RATE. THE ANNUAL REAL INTEREST RATE SHOWS HOW MUCH WILL THE LOAN COST FOR YOU IF YOU COVER THE INTEREST RATES AND ALL THE OBLIGATORY FEES RELATING TO THE LOAN PROVISION AND SERVICE IN A TIMELY MANNER AND BY THE AMOUNT DEFINED.
    • IN CASE OF FAILURE TO FULFILL YOUR OBLIGATIONS FULLY OR PARTIALLY, THE CREDITOR SENDS THE DATA TO THE CREDIT REGISTRY AFTER 3 WORKING DAYS, WHERE YOUR CREDIT HISTORY IS FORMED. YOU HAVE THE RIGHT TO GET YOUR CREDIT HISTORY FROM THE CREDIT REGISTRY FREE OF CHARGE ONCE A YEAR.ATTENTION: NEGATIVE CREDIT HISTORY MAY AFFECT YOUR FUTURE ATTEMPTS TO GET A LOAN!
    • IN THE EVENT OF FAILURE TO FULFILL OR IMPROPER FULFILLMENT OF OBLIGATIONS, ASSUMED BY THE BORROWER, THE COMPANY TAKES RELEVANT MEASURES TO CONFISCATE AND REALIZE THE COLLATERAL IN THE MANNER STIPULATED BY THE RA LEGISLATION. IF THE AMOUNT COLLECTED FROM THE REALIZATION OF THE PLEDGED PROPERTY IS INSUFFICIENT TO COVER THE COMPANY’S CLAIMS, THE COMPANY SHALL BE ENTITLED TO COMPENSATION FROM OTHER PROPERTY AND/OR FUNDS OF THE BORROWER.

ԵՐԱՇԽԱՎՈՐՆԵՐ ՀԱՄԱՐ

    • ԵՐԱՇԽԱՎՈՐՆ ԻՆՔՆ Է ԿՐՈՒՄ ՎԱՐԿԻ ՄԱՐՄԱՆ ՊԱՏԱՍԽԱՆԱՏՎՈՒԹՅՈՒՆԸ, ԱՅՍԻՆՔՆ, ԵՐԲ ՎԱՐԿԱՌՈՒՆ ՉԻ ԿԱՏԱՐՈՒՄ ԿԱՄ ԹԵՐԻ Է ԿԱՏԱՐՈՒՄ ԻՐ ՊԱՐՏԱՎՈՐՈՒԹՅՈՒՆԸ, ԱՊԱ ԴՈՒՔ ԵՔ ՎՃԱՐԵԼՈՒ ԻՐ ՓՈԽՈՐԵՆ, ՎԱՏԱՆԱԼՈՒ Է
      ՁԵՐ ՎԱՐԿԱՅԻՆ ՊԱՏՄՈՒԹՅՈՒՆԸ ԵՒ ՀՆԱՐԱՎՈՐ Է ԶՐԿՎԵՔ ՁԵՐ ՍԵՓԱԿԱՆ ԳՈՒՅՔԻՑ:
    • ՁԵԶ ՏՐԱՄԱԴՐՎԵԼՈՒ Է ՎԱՐԿԱՅԻՆ, ԵՐԱՇԽԱՎՈՐՈՒԹՅԱՆ ՊԱՅՄԱՆԱԳՐԵՐԻ ԵՒ ՄԱՐՄԱՆ ԳՐԱՖԻԿԻ ՕՐԻՆԱԿ:
    • ՀԱՂՈՐԴԱԿՎՈՒՄԸ ԻՐԱԿԱՆԱՑՎԵԼՈՒ Է ՁԵՐ ԿՈՂՄԻՑ ԸՆՏՐՎԱԾ ԵՂԱՆԱԿՈՎ:
    • 7 ՕՐ ԱՌԱՋ ԾԱՆՈՒՑՎԵԼՈՒ ԵՔ ՊԱՅՄԱՆԱԳՐԻ ՊԱՅՄԱՆՆԵՐԻ ՓՈՓՈԽՈՒԹՅԱՆ ՄԱՍԻՆ:
    • ՎԱՐԿԻ ՄԱՐՄԱՆ ՈՒՇԱՑՄԱՆ ԴԵՊՔՈՒՄ ԱՄԵՆԱՈՒՇԸ ՄԵԿ ՕՐ ՀԵՏՈ, ՁԵԶ ՏԵՂԵԿԱՑՆԵԼՈՒ ԵՆ ԱՅԴ ՄԱՍԻՆ:

ԵՐԱՇԽԱՎՈՐՆ ԻՐԱՎՈՒՆՔ ՈՒՆԻ

  • ՑԱՆԿԱՑԱԾ ԺԱՄԱՆԱԿ ՎԱՐԿԱՏՈՒԻՑ ՊԱՀԱՆՋԵԼ ՏԵՂԵԿԱՏՎՈՒԹՅՈՒՆ ՎԱՐԿԻ ՄՆԱՑՈՐԴԻ ՉԱՓԻ ՄԱՍԻՆ:
  • ՎԱՐԿԱՌՈՒԻՑ ՀԵՏ ՍՏԱՆԱԼՈՒ ՁԵՐ ԿՈՂՄԻՑ ՎԱՐԿԻ ՀԱՄԱՐ ՎՃԱՐՎԱԾ ԳՈՒՄԱՐՆԵՐԸ, ԻՆՉՊԵՍ ՆԱԵՒ ՎԱՐԿԱՌՈՒԻ ՓՈԽԱՐԵՆ ԿՐԱԾ ԱՅԼ ՎՆԱՍՆԵՐԸ:

 

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In the loan application form, the applicant shall indicate the loan amount, term and other necessary information.

The following will be attached to the application;

 

  • Passport or Identification card with copies
  • The guarantor’s passport or identification card with copies
  • Salary reference, if available