LI Household

The loan is provided in AMD

• Minimum loan amount - 350,000 AMD
• Maximum loan amount - 3,000,000 AMD
• Loan term – 3-36 months
• Annual nominal interest rate: AMD 14%
• Annual effective interest rate: AMD 30%
• Disbursement method - cashless, transferred to supplier's bank account
• One-time loan disbursement fee - not applied
• Monthly loan servicing fee - not applied
• Early repayment penalty - not applied
• Loan application review fee - one-time 5,000 AMD, NOT APPLIED TO GOVERNMENT-SUBSIDIZED LEASING AND PROGRAM LOANS
• Penalties and fines - 0.12% daily on overdue principal, 0.12% daily on overdue interest
• Loan repayment schedule - annuity/equal payments
• Collateral - pledge or guarantee

For possible additional fees, see details - Loan Tariffs

Previous loan terms here

• No additional fees or costs
• Quick response to applications - loan application review and decision within 1 business day

Individual Borrower

• Identity documents (Armenian passport/ID card)
• Public services number or statement of non-receipt

Sole Proprietor Borrower

• Identity documents (Armenian passport/ID card)
• Public services number or statement of non-receipt
• Statement from state register
• License (if activity is licensed)
• Tax authority statement on obligations
• Last year's tax reports submitted electronically and acceptance notifications
• Ownership certificate or lease agreement for business premises

If Guarantor is required

• Guarantor's identity documents (Armenian passport/ID card)
• Public services number or statement of non-receipt
• Income documents if required
• For legal entity: charter, registration certificate, director's passport and tax code

If Collateral is required

• Ownership certificate of collateral property
• Basis documents for ownership if required
• Statement on absence of encumbrances
• Owners' identity documents and public services numbers
• Marriage certificate and spouse's documents if married
• Additional documents may be required if necessary

Documents must not be older than 15 days at submission

Important to Know

• The loan is provided for acquisition of household goods and services from companies with cooperation agreement with "Credit Concept" UCC, as well as agricultural goods and services

Attention: YOU HAVE THE RIGHT TO COMMUNICATE WITH THE FINANCIAL INSTITUTION IN YOUR PREFERRED WAY — BY MAIL OR ELECTRONICALLY. ELECTRONIC COMMUNICATION IS MOST CONVENIENT: AVAILABLE 24/7, NO RISK OF PAPER LOSS, ENSURES CONFIDENTIALITY.

Attention: COLLATERAL MAY BE FORECLOSED IF YOU FAIL TO MAKE TIMELY INTEREST AND PRINCIPAL PAYMENTS. IF COLLATERAL VALUE IS INSUFFICIENT, OBLIGATIONS WILL BE COVERED FROM YOUR OTHER PROPERTY.

Attention: IF YOU FAIL TO FULFILL OBLIGATIONS, THE LENDER WILL SEND INFORMATION TO THE CREDIT BUREAU AFTER 3 BUSINESS DAYS, FORMING YOUR CREDIT HISTORY. YOU HAVE THE RIGHT TO RECEIVE YOUR CREDIT HISTORY FROM THE BUREAU ONCE A YEAR FREE OF CHARGE.

Attention: POOR CREDIT HISTORY MAY PREVENT YOU FROM OBTAINING LOANS IN THE FUTURE.

Attention: HOW TO IMPROVE POOR CREDIT HISTORY: AVOID EVEN ONE-DAY DELAYS, FULLY REPAY PAST OVERDUE PAYMENTS, AVOID GUARANTEEING UNRELIABLE PERSONS.

Attention: LOAN INTEREST IS CALCULATED BASED ON NOMINAL RATE. NOMINAL RATE SHOWS ANNUAL INTEREST COST ON OUTSTANDING BALANCE. INTEREST IS CALCULATED DAILY ON ACTUAL OUTSTANDING PRINCIPAL. CALENDAR YEAR IS USED.

Attention: Nominal interest rate is the rate announced by the financial institution on which interest payments are calculated.

Effective interest rate shows what the nominal rate would be if it included all mandatory fees.

EFFECTIVE INTEREST RATE CALCULATION CAN BE FOUND HERE.

Attention: LOAN INTEREST RATE CANNOT EXCEED TWICE THE BANK INTEREST RATE SET BY THE CENTRAL BANK OF ARMENIA.

FOR GUARANTORS

• If the borrower fails to fulfill obligations, you will pay instead, your credit history will worsen, and you may lose your property.
• You will receive copies of loan, guarantee agreements and repayment schedule.
• Communication will be in your chosen method.
• You will be notified 7 days in advance of contract changes.
• SMS reminders will be sent; in case of delay — notified within one day.
• You have the right to request loan balance information and recover paid amounts from the borrower.
• Positive credit history plays an important role in loan decisions. Formed by timely repayments and targeted use. Details at www.abcfinance.am and www.acra.am

• Loans are provided to
  1. individuals, as well as individuals and sole proprietors engaged in agriculture
  2. individuals aged 20-65
  3. borrower must act in own name and benefit; prohibited for third parties
  4. at application, no overdue obligations; total overdue days in last 6 months ≤ 15
• Loan issued at head office and branches
• Decision within max 1 banking day after documents submission
• Upon positive decision, loan disbursed within max 1 banking day
• Disbursement cashless
• Positive decision factors: creditworthiness, stable income, sufficient collateral, positive credit history, long work experience
• Rejection factors: insufficient income, frequent delays, high debt burden, poor financial indicators, specialist/committee opinion
• Credit history reflects credit behavior. Positive history important for approvals. Formed by timely repayments and targeted use. Details at www.abcfinance.am and www.acra.am
• Credit inquiry mandatory. New applications may negatively affect credit score; monitoring inquiries have low/no impact. Inquiries possible throughout contract term
• Loan statements provided free during contract term
• NO EARLY REPAYMENT PENALTIES FOR LOANS UP TO 5 MILLION AMD