Credit Line

Main terms

Additional terms

1	General terms
1.1	Purpose	Mastercard Business Preferred card is issued for settlement of short-term financial issues, acquisition of fixed assets/capital investments, replenishment of turnover assets, redemption of loan liabilities, custom clearance, tax duties, etc.
1.2	Type	Renewable credit line with grace period
1.3	Currency	AMD	USD	EUR
1.4	Minimum limit	Not defined	Not defined	Not defined
1.5	Maximum limit	1. For clients with operating credit liabilities in the Bank: 1.1. In the amount of not more than 5% of the client's credit exposure operating in the Bank, but not more than AMD 150 million or in the equivalent currency, or 1.2. In the amount of 5% of the net loan turnover in the Bank, but not more than AMD 30.0 million inclusive or in the equivalent currency.
1.5	Maximum limit	2. For clients without operating credit liabilities in the Bank: In the amount of 5% of the net loan turnover in the Bank, but not more than AMD 30.0 million inclusive or in the equivalent currency.
1.6	Term	36 months	36 months	36 months
1.7	Annual nominal interest rate for the credit line¹	AMD 14%	USD 12%	EUR 10%
1.8	Interest rate accrued on the unused portion of the credit line	0%	0%	0%
1.9	Credit line redemption order	Unequal (differentiated) installments as per the mandatory redemption	Unequal (differentiated) installments as per the mandatory redemption	Unequal (differentiated) installments as per the mandatory redemption
1.10	Minimum redemption limit	10% of the used credit line as of the settlement day	10% of the used credit line as of the settlement day	10% of the used credit line as of the settlement day
1.11	Credit line interest payback	Monthly, in the due payment period	Monthly, in the due payment period	Monthly, in the due payment period
1.12	Interim period for redemption of used part of the credit line	In each due payment period	In each due payment period	In each due payment period
1.13	Credit line issuance method	Non-cash, by crediting the borrower's card account	Non-cash, by crediting the borrower's card account	Non-cash, by crediting the borrower's card account
1.14	Payment period	1 month	1 month	1 month
1.15	Settlement day	1st day of each month unless otherwise specified in the borrower's offer-application	1st day of each month unless otherwise specified in the borrower's offer-application	1st day of each month unless otherwise specified in the borrower's offer-application
1.16	Grace period	25 calendar days	25 calendar days	25 calendar days
1.17	Credit line issuance form	Lump-sum or by installments	Lump-sum or by installments	Lump-sum or by installments
1.18	Contract requirements	The Contract shall be signed in line with the standard form approved by the Bank	The Contract shall be signed in line with the standard form approved by the Bank	The Contract shall be signed in line with the standard form approved by the Bank

Information about Score and Credit History

Important to know

◾The Bank may request additional documents or other information from the consumer based on the “Know Your Customer” principle for the purpose of conducting due diligence on the customer as defined by the RA Law “On Combating Money Laundering and Financing of Terrorism”, as well as ask the consumer additional questions during oral communication (if such a request exists).

◾In accordance with the agreement signed with the United States based on the Foreign Account Tax Compliance Act (FATCA), the Bank may collect additional information to determine your US taxpayer status.

◾ATTENTION: Loan interest is calculated based on the nominal interest rate. The annual percentage rate shows how much the loan will cost you if you pay the interest and all mandatory payments for the loan and its servicing within the specified period and amount. You can find the procedure for calculating the annual percentage rate here.

◾WARNING: Your property (house, car, or other) may be seized in accordance with the law if you fail to make timely repayments of your interest and loan amounts.

◾ATTENTION: In case of failure or incomplete fulfillment of your obligation, the lender will send this data to the credit bureau after 3 business days, where your credit history is formed. You have the right to obtain your credit history from the credit bureau once a year for free. A bad credit history may hinder you from obtaining a loan in the future.

◾ATTENTION: “Your Financial Directory” www.fininfo.am is an electronic system that facilitates the search, comparison of services offered to individuals and the selection of the most effective option for you.

◾ATTENTION: When applying for a loan, the lender will provide you with an individual consumer loan essential terms sheet, which will present the individual terms of the loan to be provided to you.

◾The borrower has the right to unilaterally terminate the loan agreement without giving any reasons within 7 business days following its conclusion, unless a longer period is provided for in the loan agreement (cooling off period). In that case, the borrower is obliged to pay interest to the Bank for the use of the loan amount, which is calculated in accordance with the annual effective interest rate provided for in the loan agreement. No other compensation may be required from the consumer in connection with the termination of the loan agreement.

◾The borrower has the right to fulfill (repay) his obligations under the loan agreement ahead of schedule, regardless of whether such a right is provided for in the loan agreement or not.

◾You have the right to communicate with Ardshinbank OJSC in your preferred way: by mail or electronically. Receiving information electronically is the most convenient. It is available 24/7, is free from the risks of losing paper information, and ensures confidentiality.