Consumer Loan

The loan is provided in AMD:

• Minimum loan amount - 350,000 AMD
• Maximum loan amount - 10,000,000 AMD
• Loan term – 6-60 months
• Annual nominal interest rate: AMD 18-24%
• Annual effective interest rate: AMD 12-30%
• Disbursement method - cashless, transferred to client's bank account
• One-time loan disbursement fee - not applied
• Monthly loan servicing fee - 0.5% on outstanding balance
• Early repayment penalty - not applied
• Loan application review fee - one-time 5,000 AMD
• Penalties and fines - 0.12% daily on overdue principal, 0.12% daily on overdue interest
• Loan repayment schedule - annuity/equal payments
• Consumer loans ≤5,000,000 AMD can be provided with guarantee only or with collateral
• Consumer loans >5,000,000 AMD provided exclusively with collateral. Real estate LTV ≥80%; movable ≥60%

For possible additional fees, see details - Loan Tariffs

Previous loan terms here

• In case of real estate collateral, pledge agreements up to 20 years, allowing multiple loans without extra costs
• Quick response - application review and decision within 1 business day

Borrower

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

If Guarantor 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 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

• The loan is provided for consumer purposes

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. resident individuals
  2. individuals aged 18-70
  3. borrower must act in own name and benefit; prohibited for third parties
  4. at application, no overdue obligations; total overdue days last 6 months ≤15
• Loan issued at head office and branches
• Decision max 3 banking days
• Disbursed max 1 banking day on positive
• Cashless
• Positive factors: creditworthiness, stable income, sufficient collateral, positive history, long experience
• Rejection factors: poor indicators, insufficient income, delays, high burden, opinions
• Credit history reflects behavior. Positive important. Formed timely targeted. Details www.abcfinance.am www.acra.am
• Inquiry mandatory. New applications affect score; monitoring low/no. Inquiries throughout term
• Statements free
• NO EARLY REPAYMENT PENALTIES FOR LOANS UP TO 5 MILLION AMD