Do you want to get the necessary funds without visiting the bank and faster than your favorite coffee is brewed? Acba offers a new generation of online consumer loans for users of the acba digital mobile application.
only when applying online
When applied via acba digital:
| Provision Method | Nominal Annual Interest Rate | Effective 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 |
Duration:
For loans up to 2 million AMD: 48 months
For loans between 2–10 million AMD: 60 months
Loan Fee: None
Repayments: Equal monthly installments
Interest Calculation: Daily, based on the declining loan balance
Security / Collateral: Unsecured (no guarantor required), based on the borrower's cash flow
Learn more:
About possible additional fees – Loan tariffs
Previous loan tariff conditions
When applying via the acba digital app
When submitting a loan application at a branch
The following documents may also be required:
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
When applying for a loan at a branch:
Example of loan interest calculation:
*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
Loans are provided to resident individuals who have a documented or analysis-substantiated stable income, as well as a positive credit history, to be used for consumer purposes.
Factors for a positive loan decision are the assessment of the customer's creditworthiness.
Factors for loan rejection are insufficient financial indicators obtained as a result of the analysis, the customer's bad credit history, insufficiency/lack of required security, the professional opinion of the Business Consultant, and the professional opinion of the Credit Committee.
The loan amount is provided in non-cash form.
During the term of the contract, account statements are provided via email every 30 days, unless the customer chooses another communication option.
During the term of the contract, the loan account statement and other information subject to mandatory provision under RA legislation are provided free of charge. Statements not subject to mandatory provision under RA legislation and duplicate statements are provided:
up to 6 months old (inclusive) – free of charge
6 to 12 months old (inclusive) – 2,000 AMD (including VAT)
more than 1 year old – 3,000 AMD (including VAT)
YOU HAVE THE RIGHT TO COMMUNICATE WITH THE FINANCIAL INSTITUTION IN YOUR PREFERRED WAY, EITHER BY POSTAL MAIL OR THROUGH DIGITAL CHANNELS. RECEIVING INFORMATION DIGITALLY IS THE MOST CONVENIENT OPTION. IT IS AVAILABLE 24/7, ELIMINATES THE RISK OF LOSS OF 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 in the event of misuse of the loan, as well as failure to fulfill the obligations set out in the loan agreement.
NOTE: WHEN APPLYING 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.
Information provided to the Credit register:
NOTE: IN CASE OF YOUR FAILURE OR IMPROPER PERFORMANCE OF YOUR OBLIGATIONS, THE LENDER WILL, AFTER 3 BUSINESS DAYS, SUBMIT SUCH INFORMATION TO THE CREDIT BUREAU, 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.
NOTE: A POOR CREDIT HISTORY MAY HINDER YOUR ABILITY TO OBTAIN A LOAN IN THE FUTURE.
You can learn more about the importance of credit history and the use of credit scoring here.
Your financial informant
NOTE: "YOUR FINANCIAL INFORMANT" IS AN ELECTRONIC SYSTEM THAT MAKES IT EASY TO SEARCH FOR, COMPARE, AND CHOOSE THE MOST EFFECTIVE OPTION FOR INDIVIDUALS.
