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Valid from 03.08.2026 |
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Loan currency |
AMD |
AMD |
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Application acceptance and loan procession at |
All the branches of the Bank, Head Office |
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Loan financing source |
National Mortgage Company RCO CJSC |
ARDSHINBANK OJSC |
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Loan purpose |
Acquisition of apartments under development or with a completed development design in residential blocks at the addresses Zoravar Andraniki 6, 7, 8, 9, 11, 17, 18, 19, 20, 21, 22, 23 and 24, Abovyan, town of Abovyan, Kotayk region, Armenia Developer: Multi Group Concern LLC |
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Minimum loan amount |
AMD 3,000,000 |
Not established |
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Maximum loan amount |
AMD 35,000,000 |
AMD 100,000,000 |
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Type of percentage rate |
Fixed |
11. Fixed (adjustable)1 2. Floating2 |
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Annual percentage rate Fixed Fixed (adjustable) |
14.4% |
1. 14% for loans up to 35.0 mln (included) 2. 14.6% for loans more than AMD 35.1 mln |
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Annual percentage rate Floating |
- |
1. SR+5% for loans up to AMD 35.0 mln 2. SR+5.6% for loans more than AMD 35.1 mln |
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Actual annual percentage rate Fixed Fixed (adjustable) |
15.4% - 16% |
15% - 15.7% |
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Actual annual percentage rate Floating |
- |
12.7% - 13.4% |
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Minimum timeframe |
10 years |
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Maximum timeframe |
20 years |
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Loan and interest redemptions |
Monthly annuity payments |
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Minimum prepayment from apartment purchase value |
10%
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10% |
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Loan application review fee |
AMD 5,000 |
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Loan issuance commission |
Not established |
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Pledge procession fee** |
AMD 53,100 for any property item (apartmenr or a parking lot) |
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Monthly loan maintenance fee |
Not established |
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Application review fee for a change of co-borrowers |
AMD 15,000 |
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Other fees for property procession |
1. The Borrower shall pay for: 1) property evaluation (for a completed property unit ) 2) acceptance of a unified reference on propoerty restrictions 3) notarial authentication of contracts 4) after completion of development: - the borrower's ownership, and - state cadastral registration of the Bank's rights of pledge |
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Issuance of statements |
Free: for a statement covering records of up to 1 month's records Free: at least four times a year upon the borrower's request for a period of time specified by the latter AMD 1,000-5,000 for statements and references covering any other time period (see here) |
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Maximum Loan/Pledge ratio |
90% of real estate value |
90% of real estate value |
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Settlement of maximum Loan/Pledge ratio Settlement of real estate |
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 between the loan and purchase values of pledge evaluation |
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Loan issuance procedure |
One-off |
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Loan issuance method |
non-cash: via transfer to the bank account |
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Loan and prepayment cash withdrawal fee (sum total) by the seller |
not established |
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Overdue loan interest rate |
24% per annum calculated on overdue part of loan |
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Insurance |
Not required |
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REQUIREMENTS FOR THE BORROWER |
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Borrower’s status |
An individual resident of the Republic of Armenia aged 21 and over provided s/he has his/her main source of income in the Republic of Arm |
An individual resident of the Republic of Armenia aged 21 and over |
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Requirements for the co-borrower |
The borrower’s spouse (if married), as well as any other person(s) aged 18 and over may be a co-borrower |
The borrower’s spouse (if married), as well as other person(s) aged 18 and over may be a co-borrower. |
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Borrower’s/co-borrower’s age |
The borrower shall be on average no more than 65 years of age (up to 66) on the final date of loan redemption. |
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Other requirements for the borrower/co-borrower |
Available phone number and email address |
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TERMS AND CONDITIONS APPLYING TO THE COLLATERAL |
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Collateral |
1. In case of real estate under development, right to purchase such real estate³ from the block under development and primary and/or subsequent pledge (if the said resources are considered pledged in favor of the Borrower by virtue of the contract) in the full amount of the loan by enforcing forfeiture 2. In case of purchasing completed property, the property being purchased 3. Available prepayment insurance: whenever the prepayment constitutes up to 29% of the Real Estate value |
1. For real estate under construction: right to purchase the real estate from the building under construction, or 2. In case of purchasing completed property, the property being purchased |
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PENALTIES, FINES |
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Penalty for an overdue interest |
48% annually |
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Penalty for early loan redemption |
Not established |
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DECISION-MAKING TIMEFRAMES, FACTORS |
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Decision-making timeframe |
4-7 days |
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Decision notice timeframe |
1 day |
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Issuance timeframe |
1 business day: after notarial authentication of the pledge contract and cadastral registration of the pledge |
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Positive decision factors |
compliance with the lending terms and due submission of the required documentation |
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Loan rejection factors |
Borrower's/co-borrower's negative credit history, incompletely submitted documentation, evaluation of the customer's creditworthiness as unsatisfactory |
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*Loans with the pledge of a parking lot shall be issued only with the Own Resource. ** The property-related cadastral registrations shall be made only with a standard time period (not subject to an expedited procedure). *** In the event of a failure to satisfy the terms set by the National Mortgage Company RCO CJSC, the loan application shall be considered within the terms established with the Own Resource. The Bank is entitled to revise the interest rate in the amount of the change in the refinancing interest rate set by the National Mortgage Company RCO CJSC. In the event of the non-financing or termination of financing by the Apartment for Youth RFO CJSC, the interest rate prescribed by the contract shall change to a floating interest rate, and the new interest rate shall be set in the amount of +5.5% of the Settlement Rate (SR), with the SR equaling the Bank’s SR value effective as of the moment of the change in the interest rate (except in the cases prescribed by the Bank’s internal legal acts). |
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¹ 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. ² 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. |
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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. |
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The settlement rate table can be accessed here |
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3 After handover for final exploitation the real property under development and submission to the Bank of the buyer's ownership right and the bank's right to pledge (100% completion), the real property being purchased shall be a subejct of pledge (collateral). After handover for final exploitation the real property under development (100% completion), the customer shall, within 30 days, submit to the Bank the certificate on the buyer's ownership right and the bank's right to pledge. |
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