Loan currency |
AMD |
|
Bid and document acceptance location |
All the branches of the Bank, Head Office |
|
Source of loan financing |
ARDSHINBANK CJSC |
|
Purpose of the loan |
“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 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 100,000,000 |
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 actual credit 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 |
|
Loan and interest redemptions |
Monthly equal payments (annuity) |
|
Loan bid study fee |
AMD 5 000 |
Not defined |
Lump sum credit issuance commission |
Monthly loan servicing fee |
|
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 |
Monthly loan servicing fee |
|
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% |