ArtsakhbankLet's Reach The Top Together

General Information

Artsakhbank, CJSC, provides individuals with:

  • Mortgage loans for:
    • purchase of residential/non-residential property,
    • renovation/construction of real estate,
  • Consumer loans:
    • for purchase of vehicles,
    • secured loans,
    • character loans,
    • student loans,
    • gold-pledged /secured loans,
    • loans for acquisition of standardized gold bars.
  • Loans are granted to individual citizens and/or residents of the RA and AR. Moreover:
    • Consumer loans are provided in AMD,
    • Mortgage loans are provided in AMD and foreign currency.
  • At the time of applying Customer’s age plus the loan term should not exceed 70 years.
  • Minimum terms of loans are not defined.
  • Loan liabilities are repaid by annuity or spring method.
  • Credit lines are repaid by the currency in which they have been provided, while the interests accrued against credit lines are repaid in AMD /in case of loans in foreign currency – in accordance with the exchange rate of the corresponding currency set by the Bank at the maturity/.
  • Possible fluctuations in exchange rate of foreign currency may affect on repayments of loans provided in foreign currency as interests, penalties, and fines against the loans are charged in AMD. Calculations are as follows: for 1 unit of foreign currency middle exchange rate of currency market set by the CBA for that moment plus AMD 1 is charged, in accordance with the Bank’s Internal Regulation.
  • All the loan-related expenses (including the costs related with property appraisal and notarization) are borne by Customer.
  • Depending on the pledge’s value, the appraisal of pledge is performed either by the entities having appropriate professional license and co-operating with the Bank or by the Bank itself.   
  • Consumer loans are issued in the Bank.

Interest Rate, Annual Actual Interest Rate Calculation Procedure and Sample

  • The Bank may apply:
    • Fixed interest rate, which assumes that the interest rate is the same for the whole lending period.
    • Floating interest rate, which assumes change of interest rate annually within the lending period in accordance with the principles and ways set forth by the Bank’s Internal Legal Acts and defined by the Loan Agreement.
    • Mixed interest rate, which assumes that fixed interest rate is applied for the first 36 months of the lending, after which the floating interest rate is applied.
  • The maximum interest rate cannot exceed the double of the RA Central Bank’s calculated interest rate, and in case of decrease of the latter it is subject to reduction, as well.
  • Interests against loans are calculated on actaually used calendar days of the laon for a 365/366 days a year. Procedure and other conditions for loan liabilities' repayments are set in the agreement signed with Customer, in accordance with the description of each tool. Moreover, regardless of repayment mode of loan principal for the defined period, interests to be paid in monthly installments, cash or non-cash.

Interests are calculated based on the nominal interest rate, while annual actual interest rate indicates how much the loan would cost to You in case of repayment of interests and other payments in due terms and sizes.

Calculation of Annual Actual Interest Rate of Consumer Loans


  • Penalties

    Penalty of the size defined by the agreement is applied in case of non-performance of repayments of granted amounts and/or interests within due terms. 


    Your property may be confiscated if You fail to make repayments of loan interests and principal in due time.

    If You fail to make repayments of loan interests and principal in due time, information on You will be registered in the Credit Register. 

    For improper use of the loan or part of it the Bank may apply a penalty, as well as increase the interest rate and take other steps in accordance with the procedure set forth by the Agreement up to the demand for the early maturity. 

    In case of non or inadequate fulfillment  of the loan obligations, the pledged property is enforced and on behalf of so received means the Bank's requirement are satisfied without applying to the court. With the Bank's discretion the collateral subject is transferred to the Bank (or to the third person mentioned by the Bank) in accordance with the size of the loan commitment or by the right of ownership or it is liquidated by direct sale or by public auction regulated by the RA Civil Code. Particularly, According to the Article 249 of the RA Civil Code the Bank informs the creditor about the confiscation of collateral without applying to the court in a written form (seizure notice).

    After two months from delivering of confiscation notice to the Borrower, the Bank has a right to take the collateral under its control (if it is a movable property) as well as to take reasonable steps for keeping, serving, and ensuring the safety of the collateral. 

    After two months from delivering the confiscation notice to a borrower/creditor the Bank has a right to eliminate the collateral by direct sale or by public auction on behalf of borrower according to the RA Civil Code.
    If the fund received from the realization of the collateral is not enough to satisfy the Bank's demands, the Bank has a right to receive less money from the other property of the Borrower by the norms defined by the law.
    The revenue received from the pledged property realization, after foreclosing the property and keeping necessary funds for paying costs of realization, the Banks' requirements are satisfied and if the revenue from the property realization is more than the liabilities' amount the difference is given to the Borrower.

    The pledger has a right to stop the collateral realization up to its sale my realizing the obligation secured by the mortgage and compensating the Banks' cost related with the property realization.

  • Other Conditions


    The Bank may charge the following commissions for loans provided to individuals: 
    - Loan application consideration fee,
    - Loan disbursement fee,
    - Loan encashment fee.

    Decision-Making on Loan Application 

    Decision on loan application is taken within maximum 15 days upon the submission of complete package of all the necessary documents as requested for crediting. The Bank’s financial advisor informs Customer about loan disbursal. In case of application rejection the Customer is provided with a reference with the reasons for rejection.  

    Customer receives a loan, if he/she has submitted the documents necessary for crediting, all the necessary contracts has been signed and all the rights subject to registration have been checked in, while in case of demand for insurance of pledged property, the insurance has been carried out. 

    The Bank will refrain from lending, if: 

    - loan purposes are not specified,
    - Borrower and/or related entities have a classified loan and there is an information about his/her (their) criminal connections,
    - there is an intention to use the loan in the spheres where there is no or limited control by the Bank over the usage of those means.

    Changes of Conditions

    The Bank may improve terms of disbursed loans based on Customer’s application, if there is no fall tendency of Customer’s financial-economical condition and decrease of regular cash flows.  Changes of conditions are implemented in accordance with principals and order set forth in the Bank’s Internal Legal Acts.

  • Collateral
    Any material and non-material value, including property right, not forbidden by the RA and NKR Legislation, may be presented as collateral.

    If loan is secured by material value, guarantees are supplementary collaterals, whereas warrantors should not have overdue credit or tax liabilities. 

    Character loans are disbursed based on Borrower’s reputation, credit history, business turnover, and position in the corresponding sphere, as well as based on principles defined by the Bank.

The Companies Co-Operating with the Bank
The Appraisal Companies Co-Operating with the Bank

Updated 2019-08-30 12:27:25

USD 482.00 487.00 483.82
EUR 527.00 538.00 530.41
RUB 6.73 7.00 6.81
CHF 491.00 505.00 499.71
GBP 586.00 602.00 595.63
GEL 145.00 170.00 151.70
CAD 325.00 355.00 348.42
USD 481.50 487.00 483.82
EUR 527.00 538.00 530.41
RUB 6.73 6.98 6.81
CHF 496.00 503.00 499.71
GBP 590.00 603.00 595.63
GEL - - 151.70
CAD - - 348.42

ARCHIVE Updated 27.05.2020 15:26

XAU 1 gram - 45100.00
XAU 50 gram - 1450000.00
XAU 1000 gram - 27800000.00
XAG1000 gram - 390000.00
XAU 1 գրամ - -
XAU 50 գրամ - -
XAU 1000 գրամ - -
XAG1000 գրամ - -

ARCHIVE Updated 27.05.2020 09:40