Consumer loans for acquisition from the secondary market
Car purchase
12-60 month
with maturity perioduntil 20,000,000
in AMD
Borrower
Citizen of the Republic of Armenia and resident individual over 18 years of age, whose age does not exceed 60 years
Guarantor
Citizen of the Republic of Armenia and resident individual over 18 years of age, whose age does not exceed 60 years
Purpose of the loan
Car purchase
Currency
Armenian Dram (AMD)
Minimum loan amount
2,000,000
Maximum loan amount
20,000,000
Loan term
12 - 60 months.
Annual nominal interest rate
12 - 16 %
Annual effective interest rate
13.9 - 24.7 %
Loan and interest repayments
1. Annuity - equal monthly repayments of the loan principal and interest amount2. Regressive - equal repayments of the loan principal, and interest amounts - monthly
Credit security
The car being purchasedBy decision of the company's board, 1 guarantor (as an additional means of securing the loan)
Loan/collateral ratio (also based on the invoice value issued by the selling company)
maximum 80 %
Requirements for the borrower's/guarantor's credit history
1. Absence of overdue/classified liabilities as of the date of loan receipt2. Total number of overdue days not exceeding 30 days in the previous 12 months
Valuation of the collateral
8,000 - 10,000 AMD
Collateral insurance
CASCO car insurance is carried out by one of the specialized organizations cooperating with the organization every year in the amount of the loan balance (rate: 2-2.5% per year of the market value of the vehicle)
Penalty
-In case of non-payment of the principal amount of the loan, in the amount of 0.1 % for each day of delay-In case of non-payment of the interest amount of the loan, in the amount of 0.03 %In addition, the annual interest rate continues to be calculated on the overdue loan amount until the overdue loan amount is repaid
Place of application submission
At the organization's business addresses
Maximum decision-making period
After submitting the complete package of required documents 3 working days
Deadline for informing the client about the decision
1 business day
Validity period of the decision
15 business days
One-time loan disbursement commission (charged from the loan amount at the time of loan disbursement)
1 % (minimum 20,000 AMD, maximum 100,000 AMD)
RA Police fee (for seizure and pledge of movable property)
one-time payment of 5,000 AMD
Attention
Dear customer, we inform you that this type of loan has a high actual interest rate, so please consider in advance other similar services available on the market and evaluate your ability to repay the loan.