Հիփոթեք - non-resident

Without analyzing the client's income
No loan issuance commission
No monthly loan service fee
No early repayment penalty
No Seller credit and cash advance fee
No other hidden fees

Main terms

Calculation rate (CA) definition table

Loan currency	AMD	USD	EUR
Application and documents accepted at:	All the branches of the Bank and the Head Office	All the branches of the Bank and the Head Office	All the branches of the Bank and the Head Office
Loan financing source	ARDSHINBANK CJSC	ARDSHINBANK CJSC	ARDSHINBANK CJSC
Loan financing source	1. Acquisition of completed residential real estate from development companies cooperating with the Bank* or residential real estate under development (rights pertaining thereto); 2. Acquisition of a parking lot simultaneously with the Apartment from the development companies cooperating with the Bank; 3. Acquisition of real estate from the secondary market. Information about the developers cooperating with the Bank can be accessed by following the link below: https://www.ardshinbank.am/for-you/real-estate?lang=hy	1. Acquisition of completed residential real estate from development companies cooperating with the Bank* or residential real estate under development (rights pertaining thereto); 2. Acquisition of a parking lot simultaneously with the Apartment from the development companies cooperating with the Bank; 3. Acquisition of real estate from the secondary market. Information about the developers cooperating with the Bank can be accessed by following the link below: https://www.ardshinbank.am/for-you/real-estate?lang=hy	1. Acquisition of completed residential real estate from development companies cooperating with the Bank* or residential real estate under development (rights pertaining thereto); 2. Acquisition of a parking lot simultaneously with the Apartment from the development companies cooperating with the Bank; 3. Acquisition of real estate from the secondary market. Information about the developers cooperating with the Bank can be accessed by following the link below: https://www.ardshinbank.am/for-you/real-estate?lang=hy
Location of property being acquired	Republic of Armenia	Republic of Armenia	Republic of Armenia
Minimum loan amount	AMD 3,000,000	none	none
Maximum loan amount	AMD 200,000,000	USD 400,000	EUR 400,000
Maximum value of property being acquired	N/A	N/A	N/A
Type of interest rate	Floating1	Floating1	Floating1
Annual interest rate (floating)1	From SR+3.7% pursuant to Table 1	From SR+5.7% pursuant to Table1	From SR+6.1% pursuant to Table 1
Actual annual interest rate	14.0-14.4%	10.1-10.8%	8.9-9.6%
Minimum timeframe	120 months	36 months	36 months
Maximum timeframe	240 months	240 months	240 months
Loan and interest sum redemptions	Monthly annuity payments	Monthly annuity payments	Monthly annuity payments
Minimum prepayment from apartment purchase value	1. 30% in case of property acquisition from development companies* cooperating with the Bank 2. 50% in case of property acquisition from the secondary market	1. 30% in case of property acquisition from development companies* cooperating with the Bank 2. 50% in case of property acquisition from the secondary market	1. 30% in case of property acquisition from development companies* cooperating with the Bank 2. 50% in case of property acquisition from the secondary market
Fee for loan bid review	none	none	none
loan issuance commission fee in lump sum	none	none	none

Non-Residency Criteria as Part of the Lending Terms Herein

Non-Residency Criteria as Part of the Lending Terms Herein

The individual (the Borrower and the Co-Borrower) is not a resident in the Republic of Armenia whenever s/he meets any of the terms below:

only a foreign citizen who has not submitted residence card in the Republic of Armenia

an Armenian citizen who, however:

1) resides in a foreign country for 183 days and over, or

2) has his/her main source of income in another country

a dual citizen (a citizen of Armenia and a foreign country) who, however:

1) resides in a foreign country for 183 days and over, or

2) has his/her main source of income in another country

Documents supporting Borrower's non-resident status*:

Income statement issued by a tax or any other competent authority of the given state as a supporting document covering at least the past 6 months' records

Bank account statement reflecting the credited funds proceeding from the main activity in the given country at least in the past 6 months

Reference from work (if necessary upon the Bank's further request)

Reference provided by a competent authority of the given state on registration or de facto residence in another country

Other necessary documents: upon the Bank's further request

Other document:

In the event of not being married, a declaration on the single status authenticated by a notary or a consular office of the given state.
If the Borrower is a citizen of another country and is in the Republic of Armenia, the declaration shall be authenticated by the given foreign country's consular office in the Republic of Armenia.

*Attention!

Documents issued by the competent authorities of a foreign state (identity document, marriage certificate, power of attorney, declaration) shall be authenticated by a notary (corresponding authority) and confirmed by an apostille, or authenticated by consular offices of the Republic of Armenia abroad, with no apostille being required by consular offices in the CIS countries and in Georgia.

Documents issued in a foreign language, including in English and Russian, shall be translated into Armenian and authenticated by a notary.

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 ([email protected])

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

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

Information brochure

Attached documents

Mobile banking