Express loan for renovation | ardshinbank

Express loan for renovation

This loan is granted without presentation of any income-confirming documents only in case of having affirmative credit history. It’s a great opportunity to renovate your residential property if you don’t want to submit different certificates to ground your stable incomes.

Purpose

Renovation of residential property

Currency

USD

Euro

Annual interest rate

12-15.5%

11-14.5%

Annual percentage rate

12.8-19%1

Term

60-180 months

Maximum credit limit

USD 2.000 - 300.000 

Euro 2.000 - 300.000 

1 Due to third party payments, the actual annual interest rate may be higher

 

INFORMATION NOTE

 

By increase of limit

Without increase of limit

Application submission place

The Bank branches, CSD

Loan currency

AMD, USD, EUR

Purpose

Refinancing of loans/credit lines of the borrower and other persons in the RA banks and credit organizations (except for “Ardshinbank” CJSC), and the share of real estate covered loan in the structure of the refinanced obligation must be at least 50%

Refinancing of loans/credit lines of the borrower in the RA banks and credit organizations (except for “Ardshinbank” CJSC) for loans in USD and EUR (also upon the borrower’s request), if the loan was used for renovation, and the share of real estate covered loan in the structure of the refinanced obligation must be at least 50%

Minimum amount

The full amount of the refinanced obligation + the amount of the insurance premium paid at the expense of credit funds

Maximum amount

110% of maximum limit per the borrower

According to LTV max

LTV max

80%

Maximum term

180 months

Credit vacation terms

Deferral of loan installments (principal loan and interest) for 6 months: for the first 6 months no interest is accrued for the loan, the interest rate is set at 0%.

When using a credit vacation:

- loan term: 120 months,

- one-time fee for loan issuance: 5% of the loan amount,

- type of interest rate: fixed

Annual interest rate

1. Floating: SR+6%- SR+8% in AMD,

2. Fixed: 17-19% in AMD, 12-15.5% in USD, 11-14.5% in EUR

1. Floating: SR+5%,

2. Fixed: 15% in AMD, 11.5% in USD, 10.5% in EUR

In case of failure to carry out the insurance provided for by the conditions:

1 percentage point higher

 

Annual effective interest rate

16.8% - 22,9 % %

 

Information note

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Page Updated on Thu, 2022-08-18 17:07
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