Loan purpose
Personal
Loan type
Credit line
Loan amount
AMD 50.000-4.000.000, but no more than the sevenfold of average monthly income
Loan currency
AMD
Payment card type
Any payment card, the salary transferred to.
Annual interest rate
13.5-14.75% (based on the loan term and borrower’s working
Loan term
12-24 months
Actual interest rate
14.37-15.79%
Loan term
12-24 months
Redemption frequency
Monthly- equally (annuitant), or Non-equally (differential). Moreover, upon the borrower’s request payments on the principle during summer months may not be defined.
Security
• guarantor/co-borrower is required if
- The amount of credit line exceeds the sixfold of income
- The amount of credit line exceeds AMD 2,500,000 (not required if the amount does not exceed the threefold of salary)
• Additional guarantor/co-borrower is required if
- The age of applicant is 63 and higher,
- The amount of credit line exceeds AMD 3,000,000 (not required if the amount does not exceed the threefold of income)
The member of guarantor’s family should bear joint liability towards the Bank, otherwise subsidiary liability.
- The amount of credit line exceeds the sixfold of income
- The amount of credit line exceeds AMD 2,500,000 (not required if the amount does not exceed the threefold of salary)
• Additional guarantor/co-borrower is required if
- The age of applicant is 63 and higher,
- The amount of credit line exceeds AMD 3,000,000 (not required if the amount does not exceed the threefold of income)
The member of guarantor’s family should bear joint liability towards the Bank, otherwise subsidiary liability.
Grant way
Cashless
Loan arrangement is realized
ARMECONOMBANK OJSC Head office and branches
Penalties
In case of non-repayment of amounts (loan, interest, and other payments) set forth by the Agreement on time, a penalty of 0.13% on the overdue amount will accrue for each overdue day.
Attention. As an additional means of guaranteeing the loan, the Bank may require the guarantee(s) of other person/person)s).
Attention. When applying for a loan, the Bank provides you with an individual leaflet of the essential terms of the consumer loan, in which the individual terms of the loan to be provided to You are presented. (in case of credit lines in Armenian drams) Attention. Depending on various circumstances, additional documents and information may be required.
Attention. Interest is calculated on the loan balance.
For more details please visit the following link Income ground (aeb.am)
