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%

2. For loans worth above AMD 35.1 million: 14.6 %

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

12.79%-15.74%

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