Jermuk Group

Main conditions

Additional Terms

Documents

Valid from 03.08.2026
Loan currency	AMD	AMD
Application acceptance and loan procession at	all the branches of the Bank, Head Office
Loan financing source	National Mortgage Company RCO CJSC*	ARDSHINANK OJSC
Loan purpose	Acquisition of apartments under development and/or with a completed development design in residential blocks at 18/4 Arshakunyats Ave., Yerevan, Armenia
Minimum loan amount	AMD 3,000,000	Not established
Maximum loan amount	AMD 35,000,000	AMD 55,000,000
Maximum value of property being purchased	AMD 55.0 million	Not established
Type of percentage rate	Fixed	Floating¹
Annual percentage rate	14.3%	SR+6%
Actual annual percentage rate	14.9-15.6%	15-15.6%
Minimum timeframe	10 years
Maximum timeframe	20 years
Loan and interest redemptions	Monthly annuity payments
Minimum prepayment from apartment purchase value	10%	10%
Loan application review fee	AMD 5,000
One-off commission for loan issue	Not established
Pledge procession fee**	AMD 27,100
Monthly loan maintenance fee	Not established
Other fees for property procession	1. The borrower pays for: 1) Property evaluation (development activities in case of completed property); 2) Acceptance of a unified reference on propoerty restrictions; 3) Notarial authentication of contracts; 4) After completinon of development activities - the borrower's ownership, and - state cadastral registration of the Bank's rights to pledge
Issuance of statements	Free: for up to 1 month Free: at least four times per annually upon the borrower’s request for the time period specified by the latter AMD 1,000-AMD 5,000 for statements and references covering any other time periods (see: Bank Account)
Maximum loan/pledge ratio	90% of the real property value	90% of the real property value
Settlement of maximum loan/pledge ratio Settlement of real property value	1. In case of purchasing property under development, the purchase value specified in the reference provided by the seller; 2. In case of purchasing completed property, the minimum of the evaluated property market and purchase value
Loan issuance procedure	One-off	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
Application review fee for a change of the co-borrowers	AMD 15,000
Overdue loan interest rate	24% per annum calculated on overdue part of loan
Insurance	Arranged by Bank	Not required
REQUIREMENTS FOR THE BORROWER
Borrower’s status	An individual citizen of Armenia aged 18 and over with the main source of income in the Republic of Armenia	An individual holding residency in the Republic of Armenia aged 18 and over
Requirements for the Co-Borrower	The co-borrower may be an individual citizen of the Republic of Armenia, who is a family member of the borrower.	The co-borrower may be the borrower’s spouse (if married), as well as any other person(s) aged 18 and over
Borrower’s/Co-Borrower’s age	final date of loan redemption.
Other requirements for the borrower/co-borrower	Available mobile phone number and email address

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

Annual effective interest rate

Important to know

THE BORROWER SHALL BE ENTITLED TO PREMATURELY DISCHARGE (REDEEM), IN FULL OR IN PART, THE LIABILITIES UNDER THE CONTRACT, IN WHICH CASE THE PRINCIPAL AMOUNT OF THE LOAN SHALL BE REDUCED IN THE AMOUNT BEING PAID; THE TOTAL EXPENDITURES FOR CREDITING THE BORROWER SHALL BE REDUCED PROPORTIONATELY. IN THAT CASE, THE INTEREST AMOUNT ACCRUED TO THE BALANCE OF THE PRINCIPAL AMOUNT OF THE LOAN AND THE MAINTENANCE FEE ACCRUED TO THE BALANCE OF THE PRINCIPAL AMOUNT OF THE LOAN SHALL BE SUBJECT TO REDUCTION FROM THE TOTAL CREDIT EXPENDITURE. MOREOVER, IN THE EVENT OF EXERCISING ITS RIGHT HEREUNDER, THE BANK MAY NOT APPLY RESPONSIBILITY MEASURESTS.

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

In the event of an incomplete redemption of the loan liabilities, the full redemption of such liabilities shall be made at the expense of other resources and property units owned by the borrower and the pledgers.

In the event of overdue liabilities, the redemptions shall be made in the following sequence: the Bank’s expenditures with respect to the confiscation of the pledged property in a prescribed manner and the Borrower’s and/or the Co-borrower’s receivables with respect to the Bank generated as part of loan contract, the forfeit penalty amounts settled for (accrued to) the overdue interest, the interest amount settled for (accrued to) the overdue Loan, settled (accrued) yet unpaid overdue interest amount, overdue Loan amount, loan maintenance fee, fixed-term interest settled (accrued) for the use of the Loan and the Loan amount.

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

The Bank undertakes to issue the contract proposal to the customer seven days in advance, providing 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 by following the link here.

The loans are be issued by using the Bank-approved standard form contracts. In the event of purchasing and pledging a parking lot, separate loan and pledge contracts shall be signed for the parking lot. The pledge contract (contracts) shall be notarized. The pledge of right to the purchase of apartment, the right to ownership and the Bank's right to pledge (after completing the construction) and other property rights are subject to state registration.

The state cadastral registration of the Bank's right to purchase shall be made with the Bank's resources except in the cases when the customer wishes to proceed to registration subject to expedited procedures different from the standard timeframes prescribed by law.

ATTENTION:

The loan interests are accrued based on the nominal percentage rate. The actual annual percentage rate reveals the loan value in the event of the payment of the interests and other fees within the specified timeframes and in the specified amounts. For detailed information on calculation procedure of the actual annual percentage rate please visit the following link.

You can view the evaluating companies list here

YOUR PROPERTY MAY BE CONFISCATED IN A MANNER PRESCRIBED BY LAW IN THE EVENT YOU FAIL TO MAKE, IN A TIMELY MANNER, THE INTEREST AND CREDIT REDEMPTIONS.

IN THE EVENT OF YOUR NON-PERFORMANCE OR INCOMPLETE PERFORMANCE OF THE LIABILITY, THE LENDER SHALL, AFTER 3 BUSINESS DAYS, SEND THOSE DATA TO THE CREDIT BUREAU TO HAVE YOUR CREDIT HISTORY GENERATED. YOU ARE ENTITLED TO RECEIVE THE FREE COPY OF YOUR CREDIT HISTORY FROM THE CREDIT ORGANIZATION ONCE EVERY YEAR.

A POOR CREDIT HISTORY MAY PREVENT YOU FROM RECEIVING A LOAN IN THE FUTURE.