YEREVAN – A new financial product has been introduced for individuals who have purchased or are in the process of purchasing new real estate and require additional funds for renovation or furnishing.
The loan program is available in Armenian drams, with amounts ranging from 2 million to 20 million AMD. The annual nominal interest rate is set at 13.75%, while the effective annual rate falls between 14.50% and 14.80%. Borrowers can choose a repayment period of up to 10 years.
A notable feature of the program is that loans of up to 10 million AMD are available without requiring an income analysis from the applicant.
The financial institution has also eliminated several common fees, including one-time loan provision charges, service fees, application review costs, and cash withdrawal commissions. The approval process is designed to be efficient, with decisions typically communicated within two business days.
Prospective borrowers can initiate the application process by visiting any branch location or contacting the customer service center.
