Collateral requirements

A credit limit is extended to Bank customers only. It should be backed by cash available on deposit or settlement accounts.

Currency of credit limit

Armenian Drams, US Dollars, EUR, Russian  Rubles

Minimum amount of credit limit per borrower

AMD 100,000 or an equivalent amount in other currency

Maximum amount of credit limit per borrower

At 85% of the term deposit amount  

 Period of credit limit

A credit limit is granted for a period no longer than the one set for the term deposit  

Early repayment  

No penalty is charged for early repayment

Interest rate

The interest rate is set to equal annual deposit interest rate plus 3%, but not less than 12%.

Interest is accrued on the balance of credit limit on the basis of a 365-day year.

Procedure of credit limit repayment

Prior to the expiry of the period

Fee for execution of credit limit

No fee is charged

Bodies competent to make decisions on credit limits

At Head Office - Deputy Director General, in branches - branch managers

Procedure of granting credit limits

Upon signing of loan and cash collateral agreements and/or filling in the Application

List of documents to be submitted by borrowers

1. Application

2. Identity card