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Credit conditions

Loan currency	AMD
Place of bid acceptance and loan formalization	All the branches of the Bank, Head Office
Loan financing source	ARDSHINBANK CJSC
Loan purpose	Acquisition of Apartments and Parking Lots under Development and/or with a Completed Development Design at 14/1 H. Gyurjyan, Nor Nork, Yerevan, Armenia Developer: GYURYJYAN AYGINER, LLC
Minimum loan amount	Not defined
Maximum loan amount	AMD 75,000,000
Type of interest rate	1. Fixed (under verification) 2. Floating
Annual interest rate fixed (under verification)	1. For loans worth up to AMD 35.0 million (inclusive) - 13.9% -14.1%* 2. For loans worth above AMD 35.1 million: 14.6 %-14.8%*
Annual interest rate (floating)²	1. For loans worth up to AMD 35.0 million (inclusive) - SR+2.5% 2. For loans worth over 35.1 million - SR+3.1%
Actual annual interest rate	12.68%-15.84%
Minimum timeframe	10 years
Maximum timeframe	20 years
Loan and interest redemptions	Monthly annuity payments
Minimum prepayment from apartment purchase value	For up to 60% OTI - 10% For 60% OTI - 20%
Fee for loan bid review per property unit (apartment or parking lot)	AMD 5,000
Fee for loan bid review for changing Co-Borrowers	AMD 15,000
Lump sum loan issuance commission fee ⁴	not defined
Loan formalization fee⁴	AMD 53,100 per property item (apartment or parking lot)
Monthly loan maintenance fee	not defined
Other fees for property formalization	1. The Borrower shall pay for: 1) Property evaluation (improvement in case of a completed property item); 2) Single reference on restrictions on the property item 3) Notarial authentication of agreements 4) After finishing improvement: - Borrower's ownership and - State cadastral registration of the Bank's right to pledge
Opening of a bank account/Issuance of statements	Subject to the tariffs and terms for the opening and maintenance of accounts
Maximum Credit/Pledge ratio	90%
Calculation of maximum Loan/Pledge ratio Calculation of Real Estate value	1. Acquisition value specified in the reference by the Seller in the event of the acquisition of property under development 2. In the event of the acquisition of property with a completed development design the minimum of the evaluated market and property values
Loan issuance procedure	Lump sum
Loan issuance method	non-cash, i.e. – via transfer to the Bank account
Loan and prepayment cash withdrawal fee paid by the Seller in total	not defined

* The interest rate is determined according to the Bank's internal standards

Billing rate definition table

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.

Main terms

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