• Financing of 70% of the appraised value of the apartment/house or the sale price (whichever the lowest) is provided.
  
• Down payment – minimum 30%.
  
• The Borrower must be aged between 21 and 63 years during the validity of the loan agreement, as well as reside in any country, except for those under international sanctions at the time of granting the loan.
• The Borrower must always deposit the minimum value of 3 monthly payment bills on Byblos Bank Armenia's account, which will be considered as payment for the last 3 months of the loan.
  
• The Borrower must be an employee of an international or reputable company. In case of the self-employed, the business must be well-established.
  
• The Borrower must have a working experience of at least 3 months with the current employer, and a total 2-year experience in the same business field. For the self-employed, the business must be well-established and loan provision will be considered on exceptional bases.
  
• No loan arrangement and servicing fees apply.
• Property and earthquake insurance fees are included in the nominal interest rate, and EFES ICJSC, Ingo Armenia ICJSC or LIGA Insurance ICJSC acts as the insurance company.

Annual floating rate:

• In case of payment delay of the loan or part of it, as well as accrued interests, the loan interest rate defined by the loan agreement shall not be applied on the overdue loan amount and the Bank will apply a 24% annual interest rate to the amount owed by the Customer for each due day. No other fees are charged for overdue amounts.
• The Borrower is entitled to repay the loan or a part of it prematurely. In case of partial early repayment of the loan, the Borrower may decrease the Loan tenor, leaving the monthly installments the same, or decrease the amount of monthly installments at her/his choice.
• No fee shall be charged from the Customer if the loan paid prematurely does not exceed the total of the loan amount set for the actual contract year (every 12 months starting from the day after the conclusion of the loan contract as per the repayment schedule).
• The Bank reserves the right to charge the Borrower in case of each premature payment as follows: 0.6 percent of prematurely paid loan amount if repayment is made within one year from the date of signing the Loan contract, 0.4 percent of prematurely paid loan amount if the repayment is made within the second year from the date of signing the loan contract and 0.2 percent of prematurely paid loan amount if repayment is made within the third year from the date of signing the loan contract.
• In case of early repayment of the loan by the Borrower only an arrangement fee will be deducted from the total cost of credit. No other costs are subject to deduction.

• The loan is only processed at Byblos Bank Armenia branches.
• The loan is credited to the clients’ bank account through a non-cash transfer.
• Loan disbursement is executed within a maximum period of 3 working days from the date of signing the loan contracts by the client at the branch if mandatory documents are provided.
• The repayment of the loan shall be done in equal monthly installments whereas the interest accrued at the date of repayment shall be repaid first then the principal. In case there are penalties, those will be paid first.
• The main factors affecting the decision to approve or reject the loan are as follows:

a - credit history

b - valid justification for the loan purpose

c - accuracy of the information, provided by the borrower

d - solvency of the client (financial position)

e - creditworthiness of the client (personal qualities, absence of any legal impediment)

f - the type of security.

Credit history*

Credit history is information about a borrower's obligations, showing their debts, payments, payment habits and/or data about their obligations and/or fulfillment of said obligations.

Credit information providers are ACRA member organizations (banks, credit organizations, insurance companies, organizations carrying out deferred payment transactions, as well as state bodies that provide information about individuals from public databases to the credit bureau in accordance with the procedure established by the Government of the Republic of Armenia), which provide information (data)about the borrower.

If there are incorrect or incomplete data in the borrower's credit history, then for the purpose of clarification and correction, the borrower, in accordance with the provisions of Article 20 of the Law "On Circulation of Credit Information and Activities of Credit Bureaus" of the Republic of Armenia, may inform the credit bureau or directly contact the credit information providers (listed above).To do so, the burrower may submit a written application to the credit bureau or apply online from the "My ACRA" portal. The process of accepting/receiving, discussing and responding to customer complaints regarding credit reports provided by ACRA, as well as actions that may follow are defined by the Dispute Resolution Procedure of ACRA Credit Reporting CJSC.

Under the Bank's internal regulations, the credit history retention period is not limited.

The study and analysis of credit history by the Bank is carried out in accordance with the minimum terms and conditions defined by the internal legal acts of the Bank.

A bad credit history can serve as a basis for tightening the terms of new loans (as well as other banking services) or their non-provision at all.

Credit Score

The bank currently does not apply a credit score in lending.

Steps to improve your credit history

First, it is necessary to completely clear overdue payments. In addition, it is necessary to rule out any overdue liabilities, even for one day, with regard to current loans.

Note: Byblos Bank Armenia will provide a decision on the loan application within 7 working days.

*This procedure does not apply to the Diaspora Housing Loan, which is offered to non-residents.