CONSUMER LOAN WITHOUT COLLATERAL (ONLINE)

When applying via the acba digital app

• Annual nominal interest rate: 19.9%
• If salary is received through the bank: 18.9–19.9%
• Annual effective interest rate: 20.64–21.83%

Term: 

When applying via the acba digital app

• For loans up to AMD 2 million – 48 months
• For loans from AMD 2–10 million – 60 months

When applying for a loan at a branch

• Annual nominal interest rate: 20.1–21.6%
• Annual effective interest rate: 20.64–23.97%

Term: 9–60 months

—————————————

• Loan repayments – equal monthly installments
• Without a collateral, based on the borrower’s cash flow
• Loan commission fee – none
• Interest calculation – daily, on the decreasing loan balance

Learn more:

About possible additional fees – Loan tariffs

Previous loan tariff conditions

When applying via the acba digital app

• submit a loan application

When submitting a loan application at a branch

• present an identity document,

The following documents may also be required:

• Social Services Number or a certificate confirming the absence of a Social Services Number
• Reference from the employer* and/or other documents confirming income
• Reference from the workplace of other family member(s) of the applicant
• Other documents.

The validity of the documents at the time of submission must not exceed 15 days.

^{*The receipt must include the client’s net monthly salary/income after taxes, the employer’s address, telephone numbers, the signature and seal of the head of the issuing organization, an outgoing reference number, and the date of issue.}

When applying via the acba digital app

• Loan application decision and customer notification within minutes
• Signing of the loan package and loan disbursement via the acba digital app within minutes

When applying for a loan at a branch:

• A decision on the loan application and notification of the customer are made within a maximum of 1 banking day after the required documents are submitted
• Signing of the loan package may be carried out without visiting the Bank, by electronically signing the loan package
• Loan disbursement within a maximum of 1 banking day

Example of loan interest calculation:

• Loan amount: AMD 3,000,000
• Annual nominal interest rate: 19.9%
• Loan term: 60 months
• Commission fee: 0%
• In this example, the monthly loan repayment amount will be AMD 78,549
• The annual effective interest rate will be 21.84%
• Daily interest amount is calculated as: Loan outstanding balance × loan interest rate ÷ 365 = (3,000,000 × 19.9% ÷ 365) = AMD 1635.62

_{*The repayment amount may vary depending on the number of days in the given month.}

NOTE: LOAN INTEREST IS CALCULATED BASED ON THE NOMINAL INTEREST RATE, WHILE THE ANNUAL EFFECTIVE INTEREST RATE SHOWS HOW MUCH THE LOAN WILL ACTUALLY COST YOU, PROVIDED THAT ALL INTEREST PAYMENTS AND ALL MANDATORY PAYMENTS RELATED TO LOAN DISBURSEMENT AND SERVICING ARE MADE WITHIN THE SPECIFIED TIMEFRAMES AND AMOUNTS. YOU CAN FIND THE CALCULATION OF THE EFFECTIVE INTEREST RATE HERE.

Learn more։

Consumer loan calculator

• In case the borrower fails to fulfill their obligations on time, a penalty of 0.13% is charged for each overdue day (applicable penalties).
• Loan repayments are made in the following order (when settling overdue obligations):
• Penalty/fine
• Interest
• Principal amount

• The loan is processed through ACBA Digital system.
• Loans are provided to resident individuals with documented income for consumer use.
• The loan amount is provided non-cash.
• The factors of a positive decision to provide a loan are the assessment of the customer's creditworthiness.
• Loan rejection factors are insufficient financial results of the analysis, poor credit history of the customer;
• During the validity of the contract, the statements are provided by e-mail at a frequency of thirty days, if the customer does not choose another way of communication
• Loan account statement subject to mandatory provision under RA legislation and other information is provided free of charge. The statement subject to non-mandatory provision by the RA legislation, the copy of the statement is provided
• In case of validity of up to 6 months (inclusive) - free of charge,
• In case of validity of 6 to 12 months (inclusive) - 2,000 AMD (including VAT),
• In case of validity of more than 1 year - 3,000 AMD (including VAT).

YOU HAVE THE RIGHT TO COMMUNICATE WITH THE FINANCIAL ORGANIZATION BY YOUR PREFERRED WAY OF COMMUNICATION, BY MAIL OR ELECTRONIC MEANS. RECEIVING INFORMATION ELECTRONICALLY IS THE MOST CONVENIENT. IT IS AVAILABLE 24/7, IS FREE OF RISK OF LOSS OF PAPER INFORMATION AND ENSURES PRIVACY.

The Bank may unilaterally change the interest rate stipulated in the agreement by notifying the Borrower at least 7 calendar days in advance in case of non-use of the loan, as well as in case of non-fulfillment of the obligations under the loan agreement.

ATTENTION: WHEN APPLYING FOR A LOAN, THE CREDITOR WILL PROVIDE YOU, GUARANTOR(S) (if available) WITH AN INDIVIDUAL SHEET OF SIGNIFICANT TERMS OF CONSUMER LOANS, IN WHICH THE INDIVIDUAL LOAN CONDITIONS TO BE PROVIDED TO YOU WILL BE SPECIFIED.

Information provided to the credit registry

ATTENTION: IN CASE OF NO-PERFORMANCE OR IMPROPER PERFORMANCE OF OBLIGATIONS BY YOU, AFTER 3 WORKING DAYS THE CREDITOR SUBMITS THESE DATA TO THE CREDIT BUREAU, WHERE YOUR CREDIT HISTORY IS CREATED. YOU HAVE THE RIGHT TO RECEIVE YOUR CREDIT HISTORY FROM THE CREDIT BUREAU ONCE A YEAR FREE OF CHARGE.

ATTENTION: BAD CREDIT HISTORY MAY PREVENT YOU FROM RECEIVING A LOAN IN THE FUTURE.

Financial Assistant

www.fininfo.am