In case you do not repay the interests or credit amount within the prescribed time, information about You will be entered into the Credit Register.
If the implementation of Creditor’s obligation is secured, then at violation of the obligation undertaken by the creditor (not meeting the obligations or doing it in improper manner) the Bank satisfies its demand without taking it into court by recovering and realizing the pledge item on behalf of Depositor, accepting by right of ownership or by means of handover to the third person by right of ownership, or by means of condemnation of the pledge property by means of juridical covering in order, provided by pledge agreement concluded.
The credit application provider is informed on the decision on granting credit or credit denial within 2 business days after making a decision, with the exception of credits ensured by gold and fund when the application provider is informed at the day of application is applied.
The credit is granted after making all necessary action related to credit provision and after preparing all the legal documents (if necessary after being notarized) but if the credit is not formalized within 25 banking days then twice allowance of decision making person is necessary.
The changes in foreign currency for credits granted in foreign currency make changes in credit repayment.
The interests of the credits, extended in foreign currency are repaid in AMD at the average rate settled in the currency market at previous day.
Interests of the credits are calculated based on the nominal interest rate. Annual effective interest rate shows how much the loan will cost for you if payments of interest and other payments are done on time and in specified amounts.