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About Ardshinbank
Branches and ATMs
Appointment

 

 

Loan currency

AMD

Application acceptance and loan procession at:

All the branches of the Bank, Head Office

Loan financing source

ARDSHINANK OJSC

Loan purpose

 Acquisition of apartments and parking lots under development and/or with a completed development design in the residential blocks/buildings at Street 1-5, 21 Kanakeravan Village, Nor Hachn Community, Kotayk region, Armenia

Developer: Build Invest LLC

Minimum loan amount

Not established

Maximum loan amount

AMD 35,000,000

Type of percentage rate

1. Fixed (adjustable)1

2. Floating2

3. Fixed, until May 1, 2027 and fixed adjustable  or floating after May 1, 2027

Annual percentage rate

Fixed

Until May 1, 2027 - 8.9%,

After May 1, 2027 as specified below:

Annual percentage rate

Fixed (adjustable)

13.2%

Annual percentage rate

Floating

SR+4.5%

Actual annual percentage rate

Fixed

9.3% - 14.5%

Actual annual percentage rate

Fixed (adjustable)

14% - 14.5%

Actual annual percentage rate

Floating

12.1% - 12.5%

Minimum timeframe

10 years

Maximum timeframe

20 years

Loan and interest sum redemptions

Monthly annuity payments

Minimum prepayment from apartment purchase value

1. 0% prepayment in case of pledging a 2nd property item and a DTI of up to 60%

2. 10% for DTI ratio of up to 60%

3. 20% for a DTI ratio of 60% and above

Loan application review fee per property item (apartment or parking lot)

AMD 5,000

Application review fee for a change of the co-borrowers

AMD 15,000

One-off commission for loan issue

not established

Pledge procession fee3

 

AMD 53,100 per property item (apartment or parking lot);

AMD   27,100 per property item (apartment or parking lot) upon submission of an ownership certificate in the customer’s name on the right to purchase

AMD 71,200 per complete property item (apartment or parking lot)

Monthly loan maintenance fee

Not established

Other fees for property procession

1.  The Borrower pays for:

1) Property evaluation (for a completed property item)

2) Acceptance of a unified reference on propoerty restrictions;

3)  Notarial authentication of contracts;

4) After completion of development activities:

   -  the borrower's ownership, and

   - Cadastral registration of the Bank's right of pledge for the state registration of the Bank's right of pledge

Opening of a bank account/Isuance of statements

Subject to the Bank's effective tariffs and terms for the opening of Bank accounts (see Bank Account)

Maximum Loan/Pledge ratio

90%

Settlement of the maximum Loan/Pledge ration

Settlement of Real Estate value

1.     In case of purchasing property under construction, the purchase value specified in the reference provided by the seller

2.     In case of purchasing property with completed development activities, the least of the appraised pledge market and purchase values

Loan issuance procedure

 One-off

Loan issuance method

non-cash, i.e. – via transfer to the bank account

Loan and prepayment cash withdrawal fee (sum total)

Not established

Overdue loan interest rate

24% per annum calculated on overdue part of loan

Insurance

Not required

REQUIREMENTS FOR THE BORROWER/CO-BORROWER (IF ANY)

Borrower’s age and status

an individual resident of the Republic of Armenia aged 21 and over

Requirements for the co-borrower

the borrower’s spouse (if married), as well as other person(s) aged 18 and over may be a co-borrower.

Borrower’s/co-borrower’s age

At least one shall be aged no more than 65 (up to 66) on the final date of loan redemption.

A pledger may be

1. the Borrower, and

2. a Third Party, based on the Borrower's application

Other requirements applying to the borrower/co-borrower

available phone number and email address

TERMS AND REQUIREMENTS APPLYING TO THE SUBJECT OF PLEDGE

The co-efficient of the maximum debt-to-income (DTI) ratio shall be settled for the borrower/co-borrower.

In the event of the non-performance or improper performance of his/her liabilities under the Loan Agreement, the Borrower may be be stripped of his/her right to the property being acquired/pledged.

In the event of a failure to fully redeem the credit liabilites, the full redemption shall be made at the expense of other means and property units pertaining to the Borrower and the Pledgers.

 

The loans shall be issued by way of the implementation of standard-term contracts. In the event of the acquisition and pledging of parking lots, a separate loan and pledge agreement shall be signed for the parking lot in question. The collateral agreement (agreements) shall be notarized. The right to the purchase of an apartment and, after the completion of improvement activities, the rights to ownership and the Bank’s right to pledge and other property rights shall be subject to state registration.  

 

2 The Settlement Rate (SR) shall be published on the Bank’s website (www.ardshinbank.am) and shall be reviewed by the Bank annually on February 1 and August 1. The interest rates pertaining to the concluded contracts shall be reviewed a month after the change in the SR (unless a longer date is specified in the notice). In the event of a change in the Settlement Rate, the Interest Rates shall change, i.e. – increase or decrease, in the amount of the change in the SR.

Within the effective period of the loan agreement, the loan interest rate may not increase or decrease by more than 2.5 percentage points agaisnt the interest rate set upon loan issuance.

Whenever the annual interest rate of loans having a  fixed interest rate becomes floating from 01.05.28 onwards, the value of the Loan Settlement Rate (SR) shall equal the Loan Settlement Rate effective in the Bank upon decision-making.

 

ᵌ After handing over for final exploitation the real estate under development and submitting to the Bank the Buyer's certificate of ownership and the Bank's certificate of pledge (100% completion), the Customer shall, within 30 days,d submit to the Bank the real estate ownership and pledge certificates.

After handing over for final exploitation the real estate under development (100% completion), the Customer shall, within a 30-day period, submit to the Bank the real estate ownership and pledge certificates.

 

⁴ The pledge formalization fee shall be charged until the issuance of the loan. The cadastral registrations dealing with property units shall be made only for a non-standard time period. Cadastral registrations dealing with a property item(s) shall be made only for a standard time period (not on a fast-track basis).

The interest rates on loans provided at a fixed (adjustable) interest rate are revised starting from the 37th month of the loan agreement's validity in the event of a change in the Reference Rate (RR). After the 36-month period, at the time of the first interest rate adjustment, as well as at each subsequent adjustment, the current RR is compared to the RR in effect at the time of signing the loan agreement. During the term of the loan agreement, the loan interest rate cannot increase or decrease by more than 2.5 percentage points compared to the interest rate set at the time the loan was granted. In case the annual interest rate of loans granted at a fixed interest rate becomes fixed-adjustable starting from 01.05.27, the calculation for the 37th month begins from 01.05.27.

In the event of overdue liabilities, the redemption shall be made in the following sequence: expenditures made by the Bank with respect to the confiscation of the property pledged in a prescribed manner and other debtor’s liabilities to the Bank on the part of the Borrower and/or the Co-Borrower (generated  as part of loan agreements), forfeit penalty settled for (accrued to) the overdue liability, interest sum settled for (accured to) the overdue Loan, settled (accrued) yet unpaid overdue interest sum, overdue Credit, Credit maintenance fee, fixed-term interest sum settled (accrued) for the use of the Credit, and the amount of the Credit.

The sequence of monetary liabilities may change at the Bank’s discretion without notice to the Borrower/Co-Borrower.

 

The Bank undertakes to provide the Customer with the contract proposal seven days in advance and grant a seven-day reflection period. 

The Bank's MOBILE BANKING application enables features such as money transfers, loan redemptions, viewing of account balances and transactions, payments and numerous other transactions that can be accessed via the link below.