1 The property purchased outside Armenia cannot be the main or the only residing place of borrower.

The loan amount cannot be used for investments in countries that are contrary to the Bank’s AML and sanctions policy.

2 The interest rates of loans issued at a fixed (adjustable) rate shall be reviewed starting from the 36th month of the effective period of the loan contract – on February 1 and August 1 of each year - in the amount of change in the Settlement Rate (SR). The settlement rate effective as of the moment of the first and consecutive changes of the interest rate upon expiry of the 36-month period, shall be compared to SR effective as of the moment of signing the Contract. The first change in the interest rate is performed on February 1 or August 1 following the 36-month period.

3 The settlement rate of loans issued at a floating rate shall equal the SR effective at the Bank upon the loan approval. The settlement rate shall be published on the Bank’s website (www.ardshinbank.am) and reviewed by the Bank annually on February 1 and August 1. The interest rates with respect to the acting contracts shall be reviewed a month after the change in SR (unless a longer date is indicated in the notice). The interest rates shall change (increase or decrease) in the amount of the change in SR.

The interest rate cannot increase or decrease by more than 2.5 percentage points throughout the effective period of the loan contract as compareded to the interest rate at the time of loan issuance. 

4 Property-related rights’ state registration shall be made only for a standard time period (not subject to an expedited procedure). 

5 Tha maximum quantity of tranches is 5. All tranches to be provided within 2 years.

6 Based on borrowers/co-borrower’s application the additional collateral can be released or substituted if the LTV ratio requirements meet to set criteria as result of evaluation of collateral by cooperating appraisal companies and the customer has no overdue payments.

*To justify the purpose of the loan the customer provides documents indicated in monitoring documents’ list for investment loan within deadline defined by loan agreement. In case if the documents are not provided in Armenian language the customer provides apostilled/legalized documents verified in Armenian as well.

In the event of a failure to provide the documents within the deadline defined by loan agreement or to justify the intended use of the loan based on the provided documents, the Bank shall unilaterally change the interest rate establishing it equal to the maximum interest rate of Secured express consumer loans as of the date of loan approval decision. In case of loans provided in foreign currency the loan currency is also changes to Armenian dram based on the rate defined by Central Bank of Armenia as of the change notice date. Interest rate and/or currency changes does not impact the type of interest rate (fixed/adjustable or floating).