Construction or development of residential property | ardshinbank

Construction or development of residential property

An exclusive opportunity to develop or to complete your own dwelling property by credit with conditions and minimal interest rate developed just for this purpose.

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Loan currency

AMD

Bid and document acceptance location

All the branches of the Bank, Head Office

Source of loan financing

ARDSHINBANK CJSC

Location of property being acquired

“Standard” Mortgage Loan relocation/refinancing from other financial institutions, including mortgage loans in universal credit organizations (UCOs) (except for the mortgage loans in ARDSHINBANK CJSC)

“Simplified” Mortgage Loan relocation/refinancing from other financial institutions (except for the mortgage loans in ARDSHINBANK CJSC and in UCOs)

Location of property being acquired

Republic of Armenia

Minimum loan amount

AMD 2,000,000

AMD 2,000,000

Maximum loan amount

No more than the balance of the liabilities with respect to the loan being refinanced                                                                                                                                                           

AMD 200,000,000

AMD 60,000,000

Type of interest rate

Fixed (being verified), Floating

Fixed (being verified)

Annual interest rate

fixed/ fixed (being verified)¹

3% below the client's effective credit interest rate but no less than:

14.5%

1. 12.5% for loans worth AMD  2m. – AMD 35.0m (inclusive)

2. 13.2% for loans worth AMD 35.1M-60M (inclusive)

Annual interest rate (floating)²

SR +4.5%

-

Actual annual interest rate

13.2%-15.8%

Minimum period

120 months

36 months

Maximum period

240 months

240 months

Requirements for loan being refinanced

Not defined

  1. No less than 24 months of servicing
  2. 2. The overdue dates with respect to the loan being refinanced shall not exceed the sum total of 10 days for the past 12-month period

Loan and interest redemptions

Monthly equal payments (annuity)

Loan bid study fee

AMD 5 000

Not defined

Lump sum credit issuance commission

Not defined

Pledge processing fee3

AMD 26,000 (registration is at the client's expense)

AMD 26,000 (registration is at the Bank's expense)

Monthly loan servicing fee

Not defined

Other payments made for property procession

 

 

The Borrower shall pay for:

1) property assessment;

2) reception of a single reference on property restrictions;

3) notarial authentication of collaterals

The Creditor shall pay for:

1) property assessment; **

2) reception of a single reference on property restrictions; 

 3) notarial authentication of collaterals

Loan/Pledge maximum ratio

60% of estimated market value

Credit issuance procedure

Lump sum

Credit issuance method

Non-cash (via transfer to the Bank account)

* In case of deviations from the requirements for the refinanced loan, the loan is provided under "Standard" mortgage loan refinancing conditions.

** no new evaluation report shall be required in case of an evaluation report with a history of no more than 2 years, issued by the Appraisal Organization registered at the given moment by the Cadastre Committee of the Republic of Armenia: (https://www.cadastre.am/appraisers).

 ¹ The interest rates of the credits issued with the Bank’s resource shall be reviewed starting from the 37th month of the effective period of the agreement in case of a change in the Settlement Rate (SR). The credit interest rate cannot increase or decrease by more than 2.5 percentage points throughout the effective period of the credit agreement in comparison with the interest rate fixed upon the issuance of the credit.

² The value of the credit Settlement Rate (SR) shall be equal to the Bank’s SR value available at the Bank upon making the decision on issuing a credit. 

The settlement rate shall be published on the Bank’s website (www.ardshinbank.am) and reviewed by the Bank every year on February 1 and August 1. The interest rates with respect to the agreements concluded shall be reviewed a month after the change in the SR (unless a longer date is indicated in the notice) in the event of a change in the Interest Rate. The Interest Rates shall change – increase or decrease – in the amount of the change in the SR. 

3The pledge processing fee shall be charged before the issuance of the credit. The real estate registrations with respect to property(-ies) shall be made for a standard time period (not subject to an expedited procedure).

Table of definition of the Bank's Settlement Rate

 

AMD

USD

Effective

9.5%

4.0%

08.08.2022-31.01.2023

9.5%

4.0%

 

 

 

 

 

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