ASD Development

The issuance of loans has been suspended since October 7, 2024.

Main conditions

Billing rate definition table

Loan currency	AMD
Place of application acceptance and loan formulation	All branches of the bank, Head office
Source of loan financing	"Ardshinbank" CJSC
Purpose of the loan	"ASD Development LLC, RA, Yerevan city, Arabkir Acquisition of apartments and parking lots under construction and/or completed construction works in residential buildings/apartment buildings, Ghapantsyan 1/10
Minimum loan amount	Not defined
Maximum loan amount	70,000,000 AMD
Interest rate type	1. Fixed adjustable 2. Floating
Annual interest rate fixed (adjustable)¹	1. 35.0 million (including) AMD loans: 14.3% 2.In case of loans over 35.1 million AMD: 15%
Annual interest rate (floating)²	1. In the case of AMD 35.0 million (including) loans: AMD+3% 2. In case of loans over 35.1 million AMD: HR + 3.5%
Annual effective interest rate	13.2%-16.1%
Minimum period	10 years
Maximum term	20 years
Loan and interest repayments	equal monthly payments (annuity)
Minimum down payment from the purchase price of the apartment	10%
Credit application study fee	5,000 AMD
Fee for examination of the prescribed application for the implementation of the change of co-borrowers	15,000 AMD
One-time loan granting commission	not defined
Pledge processing fee	AMD 53,100 for each property (apartment or parking lot).
Monthly loan service fee	not defined
Other fees to be paid for estate settlement	1. Borrower pays: 1) Property valuation (in the case of property with completed construction works) 2) Obtaining a unified information on property restrictions, 3) Notarization of contracts, 4) After construction is complete: - of the borrower's property and - For the cadastral state registration of the bank's collateral rights.
Bank Account Opening/Issue of Statements	According to the tariffs and conditions for opening and servicing Bank accounts in the Bank
Maximum loan/collateral ratio	90% for loans in AMD
Calculation of maximum loan/mortgage ratio Calculation of real estate value	1. In case of acquisition of the property under construction, the acquisition value stated in the reference provided by the seller. 2.In case of acquisition of property with completed construction works, the minimum of the estimated market and acquisition values of the collateral.
Order of loans	One time
Loan disbursement method	cashless by bank transfer
Fee for cashing out the sum of the loan and down payment by the seller	not defined

* Monthly net salary (after paying taxes and other mandatory deductions equivalent to it). In the absence of information about the client’s net wages (other payments equivalent to it), the amount of net wages (other payments equivalent to it) is determined by analyzing the proceeds received and made for the purpose of paying wages to the client over the last four months. In this case, the amount of net salary is considered to be the minimum salary received over the last four months, and if the client did not receive a salary or other payments equal to it during any of the four months under consideration, then this month is not taken into account in the calculation, and the previous month is considered the fourth month .

If the client's salary has changed and the client wants to change the maximum credit limit, then the new limit is calculated on the basis of the new net salary based on a certificate issued by the employer, which contains at least one entry about the new net salary for the last 4 months.

**According to the limits established by the Bank

**** The value of the Estimated Loan Rate (CA) is equal to the cost of the loan at the Bank at the time of issuance of the loan.

During the term of the loan agreement, the interest rate on the loan cannot increase or decrease by more than 2.5 percentage points, but not more than 24% of the actual interest rate.

Creditworthiness is assessed based on the Faico rating or the Bank's internal scoring mechanism.

The settlement rate is published on the Bank's website www.ardshinbank.am and is revised by the Bank on February 1 and August 1 of each year. Interest rates on concluded agreements are revised 7 days after the change in the RA (unless a longer period is specified in the notification) in the event of a change in the settlement rate. Interest rates can be changed, increased or decreased at the rate of change in interest rates.

Does not apply to loans provided subject to the repayment of other loans and submitted through the I-Banking system.

Attached documents

Archive

Information about Score and Credit History

What is credit history?

Under the law of the Republic of Armenia “On Circulation of Credit Information and Activities of Credit Bureaus”, credit information is any information about the liabilities undertaken by the subject of information, which reveals the debts, payments, payment habits or any other information about the liabilities or the performance thereof (that are being taken into consideration by financial organizations upon the issuance of credits, as well as by manufacturing, selling and service providing organizations while making a decision on the realization of goods/services based on the principle of instalment payments).

Importance of credit history

A negative credit history recorded in the past may serve as grounds for the tightening of the terms of credit or the non-issuance thereof.

A credit report is a written or electronic document which contains credit information on the performance of the financial liability in relation to the subject of the credit information (natural person or a legal entity) and the entrepreneurial organizations taken over by the latter.

The report shall comprise data obtained as of the moment of the inquiry from organizations affiliated with ACRA and shall reflect credit data of the 5 years preceeding such an inquiry.

ACRA is a credit bureau collaborating with all the banks and credit organizations in the Republic of Armenia.

Types of the score being applied

The evaluation of credit worthiness in ARDSHINBANK CJSC involves the ACRA credit history, the FICO score mark and the Bank's internal screening mechanism.

What is a credit score mark?

A FICO score is a screening system processed jointly by the closed joint stock company (CJSC) ACRA Credit Reporting and Fair Isaac Services which, conducting a statistical study of the client's credit history, gives the digital mark of the credit worthiness of the client’s credit risk as a pivotal instrument for the dimensioning of the consumer crediting risk.

The corresponding information is available also at abcfinance.am and acra.am.

Main factors influencing the score

According to FICO score calculation model, the determiners influencing the score include:

1. Payment (redemption) history;

2. Credit burden;

3. Length of credit history;

4. Types of used loans;

5. New credit application.

The Bank's internal screening mechanism is influenced by

1. Information about bank and deposit accunts, transactions made therewith and information about transfers;

2. Information about credit history;

3. Information about income and employment history;

4. Information about family status and education;

5. Information about the ownership of immovable and movable property;

6. Information about the servicing of other liabilities;

7. Any other information characterizing the client.

Credit inquiry influence on the score mark

The number of credit inquiries may have a negative impact on the concise credit mark. If the inquiry is conducted as part of a monitoring, it does not normally have a negative impact.

How to avoid a deterioration of a credit history and a score mark?

1. To discharge the credit liabilities in a due manner without delays in accordance with the established schedule;

2. To avoid being a co-borrower and/or guarantor, etc. with respect to the liabilities of borrowers with a suspicous or negative credit history;

3. Upon making redemptions of credit liabilities through a payment terminal, to take into consideration the fact that payments made after 4:45pm, i.e. – the Bank's operational hour, are rescheduled to the next business/operational day and the payment is deemed made on the next day.

How to improve credit history and the score mark?

1. To redeem the overdue liabilities if any;

2. To discharge the credit liabilities in a due manner without delays, and to rule out even daily delays thereof;

4. To avoid being guarantors for non-trustworthy persons in the future.

Who to turn to in case of errors in the credit history?

Whenever the borrower’s credit history contains errors or incomplete data, the borrower shall:

1. pursuant to the clauses set forth in Article 20 of the law of the Republic of Armenia “On Credit Information or Activities of Credit Bureaus”, inform the credit bureau thereof or simply turn to the subject providing such information (the source of credit information). The notification may be arranged by way of submitting a corresponding written application to the credit bureau, or electronically, i.e. – in an online regime from the personal office My ACRA. The process of the acceptance/receipt and consideration of clients’ complaints (as submitted by ACRA), and the response thereto and the succession of actions shall be determined subject to the "Dispute Resolution Procedure" of ACRA Credit Reporting. Corresponding information is available also at abcfinance.am and acra.am

2. Turn to the Bank

• by sending a letter to the Bank’s official email address (office@ardshinbank.am)

• by contacting the Bank’s 24/7 call center (tel. 012222222);

• by submitting a written application/complaint/request at any branch of the Bank.

Procedure for the definition, calculation, and modification of the calculation rate