Apply for the Online Consumer Loan (5G Loan) via the acba digital mobile app and benefit from a lower interest rate compared to the branch and website, faster processing, under 5 minutes, and more convenience without the need to visit the bank.
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*Annual nominal interest rate of 17.5-21.6% when applying through acba digital
Opportunity to get a loan at a preferential interest rate if you receive your salary through the Bank
Get a lower interest rate when applying for a loan through the acba digital app than at a branch
Consumer loans are provided to individuals to finance personal/family consumer expenses, as well as for other consumer purposes.
Method of issuance | Annual nominal interest rate | Annual interest rate | Duration |
acba digital system | 17.5-21.6% | 18.99-23.97% | 48 or 60 months* |
Branch | 20.1 - 21.6% | 22.07% - 23.97% | 9– 60 months |
For loans of up to AMD 2 million – 48 months
For loans from AMD 2-10 million – 60 months
Loan commission fee – no
Loan repayments – equal monthly payments
Interest calculation – daily, based on the outstanding loan balance
Collateral/security – no guarantor required; based on the borrower’s cash flow
Learn more:
Amount of possible additional fees – Loan Rates
Previous terms of Loan Rates
When applying through the acba digital app:
Submit a loan application
When submitting a loan application at a branch:
Present an identification document
The following documents may also be required:
Social Services Number or a certificate confirming that no Social Services Number has been issued
Certificate from the employer* and/or other documents confirming income
Certificate from the workplace of other member(s) of the applicant’s family
Other documents
Documents must have been issued no more than 15 days prior to the date of submission.
*The certificate must specify the customer’s net monthly salary/income after taxes, the employer’s address and telephone number(s), the signature and seal of the head of the issuing organization, the reference number, and the date of issue.
When applying through the acba digital app
A decision on the loan application will be made and the customer will be notified by phone and/or electronic means of communication within minutes.
The loan package can be signed and the loan issued through the acba digital app within minutes.
When submitting a loan application at a branch:
A decision on the loan application will be made and the customer will be notified by phone and/or electronic means of communication within a maximum of 1 banking day after submitting the required documents.
The loan package may be signed without visiting the Bank by signing the loan documents electronically.
Loan issuance – within a maximum of 1 banking day.
Example of loan interest calculation:
Loan amount – AMD 3,000,000
Annual nominal interest rate – 17.5-21.6%
Loan term – 60 months
Commission fee – 0%
In this example, the monthly loan payment will be AMD 78,549.
The annual percentage rate (APR) will be 18.99-23.97%.
The daily interest amount will be calculated as follows:
Loan amount (outstanding balance) × Loan interest rate ÷ 365 = (3,000,000 × 19.9% ÷ 365) = AMD 1,635.62
*The repayment amount may vary depending on the number of days in the respective month.
ATTENTION: LOAN INTEREST IS CALCULATED BASED ON THE NOMINAL INTEREST RATE, WHILE THE ANNUAL PERCENTAGE RATE (APR) SHOWS HOW MUCH THE LOAN WILL COST YOU IF INTEREST AND ALL MANDATORY PAYMENTS RELATED TO THE ISSUANCE AND SERVICING OF THE LOAN ARE MADE IN THE AMOUNTS AND WITHIN THE TIME FRAMES SPECIFIED. YOU CAN FIND THE APR CALCULATION HERE.
Learn more:
Consumer Loan Calculator
If the borrower fails to fulfill their obligations on time, a penalty of 0.13% is charged for each day overdue (applicable penalties).
Loan repayments are applied in the following order (when settling overdue obligations):
Penalty/fine
Interest
Principal
Loans are provided for consumer purposes to resident individuals who have documented or analytically verified stable income and a positive credit history.
Factors contributing to a positive lending decision include an assessment of the customer’s creditworthiness.
Factors that may result in the rejection of a loan application include insufficient financial indicators identified during the assessment, the customer’s poor credit history, insufficient or unavailable required security, the professional opinion of the Business Advisor, and the professional opinion of the Credit Committee.
The loan amount is disbursed by non-cash transfer.
During the term of the agreement, statements are provided by email every thirty days unless the customer selects another method of communication.
During the term of the agreement, loan account statements and other information that must be provided under the legislation of the Republic of Armenia are provided free of charge. Statements that are not required to be provided under the legislation of the Republic of Armenia, as well as duplicate statements, are provided as follows:
Up to 6 months old (inclusive) – free of charge
From 6 to 12 months old (inclusive) – AMD 2,000 (including VAT)
More than 1 year old – AMD 3,000 (including VAT)
The Borrower has the right to unilaterally terminate the Agreement without providing any reason within 7 (seven) business days following its conclusion. In this case, the Borrower is obliged to pay the Lender interest for the use of the Loan amount, calculated in accordance with the annual percentage rate (APR).
The Borrower has the right to repay the Loan and interest, in full or in part, before the due date. In the event of early repayment, the Borrower pays the interest calculated for the actual period of the Loan, while the total cost of borrowing is reduced as follows: commission fees specified in the Agreement (if any) are reduced, while other payments included in the total cost of borrowing, including notarization, state registration, property appraisal, insurance, if applicable, and other payments that do not constitute income of the Lender, are not subject to reduction.
YOU HAVE THE RIGHT TO COMMUNICATE WITH THE FINANCIAL INSTITUTION USING YOUR PREFERRED METHOD – BY POST OR ELECTRONICALLY. RECEIVING INFORMATION ELECTRONICALLY IS THE MOST CONVENIENT OPTION. IT IS AVAILABLE 24/7, ELIMINATES THE RISK OF LOSING PAPER DOCUMENTS, AND ENSURES CONFIDENTIALITY.
The Bank may unilaterally change the interest rate specified in the agreement by notifying the Borrower at least 7 calendar days in advance if the loan is not used for its intended purpose or if the obligations stipulated in the loan agreement are not fulfilled.
ATTENTION: WHEN YOU APPLY FOR A LOAN, THE LENDER WILL PROVIDE YOU AND THE GUARANTOR(S) (IF ANY) WITH AN INDIVIDUAL INFORMATION SHEET ON THE ESSENTIAL TERMS OF THE CONSUMER LOAN, WHICH WILL SET OUT THE INDIVIDUAL TERMS OF THE LOAN TO BE PROVIDED TO YOU.
Information provided to the Credit Register:
ATTENTION: IF YOU FAIL TO FULFILL OR IMPROPERLY FULFILL YOUR OBLIGATIONS, THE LENDER WILL SUBMIT THIS INFORMATION TO THE CREDIT BUREAU AFTER 3 BUSINESS DAYS, WHERE YOUR CREDIT HISTORY IS FORMED. YOU HAVE THE RIGHT TO OBTAIN YOUR CREDIT HISTORY FROM THE CREDIT BUREAU FREE OF CHARGE ONCE A YEAR.
ATTENTION: A POOR CREDIT HISTORY MAY PREVENT YOU FROM OBTAINING A LOAN IN THE FUTURE.
You can learn more about the importance of credit history and the use of credit scoring here.
Financial Assistant
www.fininfo.am
ATTENTION: "YOUR FINANCIAL INFORMANT" IS AN ELECTRONIC SYSTEM THAT MAKES IT EASY TO SEARCH FOR, COMPARE, AND CHOOSE THE MOST EFFECTIVE OPTION FOR INDIVIDUALS.
Consumer Loan Application
