en 
am 
Not enough money for necessary expenses? We have a solution!
- Financing of 70% of the appraised value of the property.
- Loan amount: minimum of AMD 2,000,000 with a maximum
financing amount of AMD 50,000,000.
- Loan tenor: from 1 to 10 years
- No loan arrangement and servicing fees are applicable.
- Property and earthquake insurance fee is included in nominal
interest rate and as an insurance company acts EFES ICJSC, Ingo Armenia ICJSC or Liga Insurance ICJSC.
Annual percentage rate:
For the first 3 years: fix 16.25% p.a., in case salary transfer 14.25% p.a.
Remaining 3 years: based on Bank Base Index*
+ 7% fixed interest margin. The Interest Rate is subject to review
annually.
Annual percentage rate: 15.55%
- 24%
*The base rate, which is the basis for determining the variable interest rate, is the cost of fund which is the YTD average weighted yield for interest bearing liabilities. The Bank’s base rate is floating and may change from time to time. Information about the base rate is always available on the home page of the Bank's official website, as well as at the Branches.
The nominal interest rate of this loan can be changed by the Bank.
Loan interests are accrued according to the nominal interest rate, while the Annual Percentage Rate (APR) shows how much the loan will cost you in case you make all payments in due time.
Depending on the Bank risk assessment results, the loan application might be approved at a higher interest rate.
- The borrower should be a resident of Armenia, aged between 21 and 63 throughout the validity of the loan contract.
- The borrower should be a middle to upper income-salaried individual or self-employed person such as small/medium merchants and industrialists.
- The Borrower should have a working experience of at least 3 months with the current employer and a total of 1 year of experience in the same field․ In case the borrower is a freelancer, proven work experience should be at least 2 years (contracts and statements should act as proof).
- The borrower should have a minimum monthly net income of AMD 200,000 in case the borrower is single and AMD 300,000 in case the borrower is married.
- The ratio of the loan repayment plus all other regular debt repayments to the available income shall not exceed 50-70%.
- The borrower should purchase a mortgage insurance policy (if available) from the suggested list of insurers.
- The sum insured (if available) should be equal to the loan amount.
- The borrower should have a good credit history.
- Only a spouse, parent, sibling and a child may become a co-borrower.
- The property* is mortgaged with the Bank until the full repayment of the loan.
- Beneficiary right of the insurance policy must be assigned to the Bank until full repayment of the loan.
- The mortgage agreement* should be verified by notary, while rights stemming from said agreement should be registered with an authorized State body of the RA.
- The Bank is cooperating with the following insurance companies.
- The bank is cooperating with the following appraisal agencies.
*Applies to real estate lending only․
To guarantors (upon such a requirement)
- If the Borrower defaults on their loan, the Guarantor is liable for the outstanding obligation, which could damage the latter’s credit history and expose them to the risk of losing the property.
- The Guarantor will be provided with a copy of the loan and guaranty agreement and the repayment schedule.
- Communication is carried out in a manner convenient for the Guarantor.
- The Bank is obliged to notify the Guarantor about the change in the terms of the contract seven days in advance.
- The Bank is obliged to remind the Guarantor about the existing obligation one day in advance and inform them about the delay in repayment of the loan no later than one day later.
- The Guarantor may request information about the amount of the loan balance from the Bank at any time.
- The Guarantor may get back from the Borrower the money they paid for the loan, as well as other losses incurred on behalf of the Borrower.
- 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 its part 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.
- In case of
total reimbursement of personal loans with amounts greater than AMD
15,000,000, the Bank will charge a fee, which is calculated in the following
way:
- 1% of prematurely repaid loan principal within 24 months starting from the date of signing the agreement,
- 0.5% of prematurely repaid loan principal, after the 24th month from the date of signing the agreement.
No partial reimbursement fee (regardless of the amount), as well as total reimbursement fee for loans below AMD 15,000,000, will be applied for personal loans.
I = Interest amount
R = Current interest rate
L = Outstanding loan amount
N = Number of days between two payments
- Example:
R=15%
L=1,000,000 AMD
N=30 days
I=1,000,000*15%/365*30=12,329
- Valuation and pledge costs are borne by the borrower and they are as follows:
a - Cadastre unified statement fee – AMD 10,300
b - Collateral appraisal fee – AMD 15,000 - 18,000
c - Notarial fees – AMD 15,000
d - Pledge registration fee – AMD 26,400
- The loan is only processed at Byblos Bank Armenia branches.
- The loan is disbursed by a non-cash transfer to clients’ bank account.
- The 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.
In case of non-fulfillment or improper
fulfillment of credit obligations by the Borrower, the Bank
shall be entitled to receive a reimbursement at the expense of the
mortgaged property, as wells as other property of the Borrower, if funds
from the mortgaged property are not sufficient. The Bank shall be
entitled to foreclose the mortgaged property via in and out of court
proceedings and direct the funds from the foreclosure to the repayment
of the debt and consequently, the owner of the property may be deprived
of her/his property. In case of payment delay, the Bank will update the
Borrower’s profile in the Central Bank of Armenia Credit Register and
Credit Bureaus, which can lead to a negative impact on the Borrower’s
credit history and cause difficulties in the process of obtaining loans in
the future.
According to the law of the RA on Combating Money Laundering and Terrorism Financing and
for the proper investigation
of the clients' profile, the Bank can obtain additional documents or
other information as per the Know Your Customer principle, as well as ask additional questions during communication (if need be).
According to an agreement with the United States of
America regarding the Foreign Account Tax Compliance Act (FATCA), the
Bank may request or gather additional information in order to identify
Borrower’s status as a U.S. taxpayer.
Information about loans are
also available the section “Your financial info
center” on www.fininfo.am, which is an electronic system for searching and comparing services and choosing the option that best suits your needs.
After signing the personal loan contract, you may communicate with the Bank by post or e-mail. The most convenient way for communication is the e-mail, which
is available 24/7:
the risk of information loss is eliminated, and secrecy is ensured.
| Title | ֏ | |
|---|---|---|
|
Mortgage related consents*
|
5,000
|
|
|
Consent for secondary mortgage*
|
5,000
|
|
|
Consent for change of mortgage*
|
5,000
|
|
|
Consent for registration or removal of family members*
|
1,000
|
|
|
Release of a mortgage (not applicable in case of full premature repayment)*
|
5,000
|
|
|
Consent for the change of the property certificate*
|
5,000
|
|
|
Fee for obtaining an electronic statement on complete information about Legal entity from the registry of Legal entities*
|
5,000
|
|
|
|
|
|
|
* VAT included
|
|
Important Note: The fees are applicable only in case of loans against collateral for each item of collateral.
You can receive the statement of the loan in your chosen way. Statements and the certificate of loan account are provided as per the tariffs bellow:
| Title | ֏ |
|---|---|
|
Provision of statement monthly
|
Free of charge
|
|
Provision of statement duplicate up to 6 months*
|
3,000
|
|
Provision of statement duplicate over 6 months*
|
6,000
|
|
Certificate of balance related to loans*
|
3,000
|
|
|
|
|
* VAT included
|
|
