Gold Secured Loans

  • Annual Interest Rate from 10%
  • Currency AMD
  • Maturity up to 2 years
Loan Calculator
Amount
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Мaturity
Nominal Interest Rate
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General Information 
• Loans are provided to the country citizens for consumer purposes
• At the time of loan application submission, the Customer’s age and the expected loan maturity together should not exceed 70 years.
Loan Term 3 - 24 months
Loan Currency AMD
Loan Issue Term Cash
Loan Amount AMD 30,000 - 7,000,000
Loan Annual Interest Type Fixed
Annual Interest Rate
  • For loans up to 90 (inclusive) days of maturity: 10%
  • For loans with 91-180 (inclusive) days of maturity: 14%
  • For loans with 181-365 (inclusive) days of maturity: 16%
  • For loans with 181-730 (inclusive) days of maturity: 16%
Annual Percentage Rate
  • For loans up to 90 (inclusive) days of maturity: 17.2-24%
  • For loans with 91-180 (inclusive) days of maturity: 18.5-22.2%
  • For loans with 181-365 (inclusive) days of maturity: 19-21%
  • For loans with 181-365 (inclusive) days of maturity: 18.3-21.5%
ATTENTION: LOAN INTEREST IS CALCULATED ON THE ANNUAL NOMINAL INTEREST RATE, WHILE ANNUAL PERSENTAGE RATE SHOWS HOW MUCH WOULD LOAN COST TO THE BORROWER IN CASE OF PAYMENT OF INTEREST AND OTHER PAYMENTS WITHIN THE TIMELINE AND BY DEFINED TERMS.
Loan / Collateral Maximum Ratio
  • For loans up to 90 (inclusive) days of maturity: 100%
  • For loans with 91-180 (inclusive) days of maturity: 100%
  • For loans with 181-365 (inclusive) days of maturity: 100%
  • For loans with 181-730 (inclusive) days of maturity: 120%
Loan Collateral 1) Gold non-standard bars, scrap gold or jewelry.
2) In case if loan/collateral ratio is higher than 100%, a natural person with a stable money income is required by the Bank as a guarantee.
Gold Evaluation Cost per Gold Purity Gold Purity AMD 
375  10,500
585  16,400
750  21,100
875  24,600
900  25,300
916  25,700
958  26,900
999  28,100
ANNOUNCEMENT: IN CASE OF FULL REPAYMENT OF THE LOAN, ARTSAKHBANK CJSC WILL RETURN YOU THE PLEDGED GOLD ITEMS UPON YOUR DEMAND WITHIN ONE BUSINESS DAY.
If you do not demand for return of the gold items pledged for the loan within one month after full repayment of the loan, the collateral is considered as left for storage in Artsakhbank CJSC.
In this case, you will be charged for safekeeping services according to the tariifs defined by the Bank without sighing additional Safekeeping Agreement. Moreover, the calculation of fee starts on the due day of the loan repayment.
Interest Payment Term Loan interest is calculated on daily basis for the factually used amount by taking 365/366 (leap year) days for a year. Calculation of interest starts on the due day of providing you the loan in cash.
Loan Payment Term
  • In case of loans with 90, 180 and 365 days of maturity: the loan principal is repayment upon the maturity and monthly payment of interests.
  • In case of loans with 730 days of maturity: annuity payment (monthly equal payments of the loan principal and interests).
ATTENTION: IF YOU HAVE UNPAYED OBLIGATIONS, THE PAYMENT SHOULD BE DONE BY THE FOLLOWING ORDER: PENALTIES, INTERESTS, LOAN PRINCIPAL

YOU HAVE THE RIGHT OF EARLY REPAYMENT OF YOUR LOAN BY UNLIMITED AMOUNT WITHOUT PENALTY CHARGES. IN CASE OF EARLY REPAYMENT OF YOUR LOAN OBLIGATIONS, LOAN APPLICATION FEE AND LOAN ISSUE CHARGES ARE NOT TO BE SUBJECT TO REDUCTION FROM THE CHARGES IN THE WHOLE.
Mandatory Payments
Loan Issue (lump sum)
  • For loans up to 90 (inclusive) days of maturity: 1.5% of the loan prinpical
  • For loans with 91-180 (inclusive) days of maturity: 1.5% of the loan prinpical
  • For loans with 181-365 (inclusive) days of maturity: 1.5% of the loan prinpical
  • For loans with 181-730 (inclusive) days of maturity: 1.0% of the loan prinpical
Penalty for Loan Principal 36%, annually
Penalty for Interest Overdue 12%, annually
WARNING: YOUR PROPERTY CAN BE REPOSSESSED IN ACCORDANCE WITH THE LAW, IN CASE IF YOU FAIL TO REPAY THE LOAN PRINCIPAL AND INTEREST PAYMENTS.

IF YOU FAIL TO PAY YOUR LOAN OBLIGATIONS, THEN YOUR OBLIGATIONS CAN BE REPAID BY ANOTHER PROPERTY IN CASE IF THE COLLATERAL WOULD BE NOT ENOUGH FOR YOUR OVERDUE OBLIGATIONS REPAYMENT, TAKEN BY THE BANK.
ATTENTION: IN CASE OF NON-FULFILLMENT OR IMPROPER FULFILLMENT OF THE LOAN OBLIGATIONS, THE BANK SHOULD SUBMIT THE CORRESPONDING INFORMATION AFTER 3 BUSINESS DAYS TO THE CREDIT REPORTING BURO, WHERE YOUR CREDIT HISTORY IS GENERATED. YOU HAVE A RIGHT TO GET YOUR CREDIT HISTORY FREE OF CHARGE FROM THE CREDIT BUREAU ONCE ANNUALLY.

BAD CREDIT HISTORY MAY HAVE NEGATIVE IMPACT ON YOUR LOAN APPROVAL IN THE FUTURE.
Maximum Period of Application Revision and Decision-making 1 business day after submission of all required documents and information
Notification on the Bank’s Decision on the Loan Application Decision 1 business day after the decision is made
Loan Issue Period within a business day after the loan approval
Requarements for the Borrower/Guarantor A Borrower / a Guarantor can be resident natural person, whose age at the time of loan application submission and the expected loan maturity together do not exceed 70 years.
Loan Provision Criteria • full package of documents required for loan provision
• credit history to comply with the Bank’s requirements
Loan Rejection Criteria • false data provided by the Applicant
• credit history not to comply with the Bank’s requirements
Loan Issue Place At the Bank’s branches with no limited operations
  • Important to Know
    • ANNOUNCEMENT: BEFORE LOAN AGREEMENT NEGOTIATION, ARTSAKHBANK CJSC PROVIDES THE BORROWER WITH AN INDIVIDUAL SHEET ACCORDING TO REGULATION 8/05 SET BY THE CBA’S BOAR DECISION N229 OF JULY 28, 2009.

      YOU HAVE A RIGHT TO COMMUNICATE WITH FINANCIAL INSTITUTION THE WAY YOU PREFER: BY POST OR E-MAIL. E-MAIL IS THE MOST COMFORTABLE, AS IT IS AVAILABLE 24/7, FREE OF PAPER DOCUMENTS LOSS RISK AND ENSURES CONFIDENTIALITY.
    • ATTENTION: WHEN APPLYING FOR THE LOAN, THE BANK WILL PROVIDE YOU WITH THE CONSUMER LOAN’S IMPORTANT TERMS AND CONDITIONS INDIVIDUAL SHEET, CONTAINING TERMS AND CONDITIONS DETERMINED BY THE BANK FOR YOUR LOAN. 
  • Information on Guarantors
    • In case if the Borrower fails to fulfill the loan obligations, then you should pay instead, as a result of which you will worsen your credit history and lose your property.
    • You will be provided with the loan and guarantee agreements, and payment schedule example.
    • Communication with Bank will be provided in the manner you preferred.
    • You will get a notification from the Bank on the contract changes 7 days before.
    • The Bank will send you a reminder on the current obligations 1 day before.
    • In case of the payment overdue you will be notified on the next day at the latest.
       
      THE GUARANTOR HAS A RIGHT:
       
    • To request information from the Lender on the remaining loan balance at any time. 
    • To get back from the Borrower the funds paid by you for the loan, as well as other losses incurred on behalf of the Borrower.
  • Required Documents
    • Identity document of the Borrower and the Guarantor (if available) and Social Services Number (Certificate on absence of SSN).
    • If available, the Guarantor’s/s’ income/cash flows approving documents (in case if the income is accumulated from the entrepreneurship, documents required for analysis under business financing (enquiry from Nork Information and Analytical Centre, CJSC, card account statement in case if the Guarantor has the Bank’s salary or pension card. The documents provided must be valid for the last 15 calendar days as at the date of the Application submission.
    • Guarantee Certificate (of the Guarantor, if required).
    • Other documents upon the Bank’s request.

 

Your Financial Directory

ATTENTION: "YOUR FINANCIAL DIRECTORY" IS THE ELECTRONIC SYSTEM FOR SEARCH, COMPARISON OF SERVICES, OFFERED TO INDIVIDUALS, AND MAKING THE SELECTION OF THE MOST EFFICIENT OPTIONS FOR YOU EASIER.  

  • Provision of Statements and Other Information
    • At least once a month since the loan issue, Artsakhbank CJSC providesthe Borrower with statement on the Borrower’s obligations and their grounds, arising from the Loan Agreement, and payments determined in the Agreement. The statement includes the full list of measures taken by the Bank for non-fulfillment or improper fulfillment of the loan obligations (penalties or other measures that have negative impact on the Borrower’s financial status. The Statement is provided in the manner preferred by the Borrower in the Loan Agreement.
    • Statements, both original and copies, and other information is provided to the Borrower according to the following tariffs and rates set by the Bank:

      Account Statement Provision (Inclusive of VAT)

      • After each transaction: AMD 0
      • For the previous month: AMD 0, AMD 500 for an additional statement
      • For the period of 1 year: AMD 2 000
      • Over 1 year of maturity: AMD 3 000

      Provision of Payment Documents' Copies, per each document (Inclusive of VAT)

      • After each transaction: AMD 0
      • For transactions with under 30 days of maturity: AMD 500
      • For transactions with 31 days and up to 1 year maturity: AMD 2 000
      • For transactions more than 1 year maturity:  AMD 3 000

      Documents and Statements Delivery (Inclusive of VAT, charged in addition to the documents and statements provision fee)*

      • By fax (per each page): AMD 1 800
      • By e-mail: AMD 0
      • By post (throughout Armenia/Artsakh): AMD 500
      • By ordered mail /DHL, etc./: AMD 35 000

      * Tariff is not applied for mandatory statements and information provided by law.
  • Dispute Resolution Procedure
    • Disputes and discrepancies arising out of the Loan Agreement are resolved through negotiations, and in case of disagreement, in accordance with procedure established by the Legislation. Disputes and discrepancies for a property claim that does not exceed AMD 10 mln or the equivalent foreign currency can be settled through the Financial System Mediator.
    • Artsakhbank CJSC announces the Declaration with the Financial System Mediator on refuse of challenge in the court the Financial System Mediator’s decisions for the properties under AMD 250,000 or equivalent foreign currency and the total amount of the deal doesn’t exceed AMD 500,000 or equivalent foreign currency.