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Services
Consumer Loans

This product is for individuals, which need to be financed on consumer purchasing and have cash for family life improvement.
 
Services
Gold collateralized consumer social loans

Conditions Description
Name of the product Consumer loan
Target clientele Individuals
Currency of the credit AMD
Credit amount
  • Up to AMD 2.000.000  in case of Head office in Yerevan
  • Up to AMD 1.500.000 for SEF's other branches
Loan maturity Up to 24 months
Periodic repayments of credit amount and interest amount Monthly 
Annual interest amount  24%  for loans in AMD
Monthly payment fee 0.3% 
In case of early loan repayment the monthly fee is charged based on the days used. 
One-off disbursment payment 1%,  paid at the moment of loan disbursement
Actual annual amount 35%-37%
ATTENTION

LOAN INTEREST RATE IS CALCULATED BASED ON  ANNUAL INTEREST AMOUNT. THE ANNUAL ACTUAL INTEREST RATE SHOWS THE LOAN COST  CONSIDERING THAT  LOAN AMOUNT AND INTEREST AMOUNT PAYMENTS  ARE MADE ON TIME AND AS PER LOAN SCHEDULE AND IN DUE TIME. YOU WILL FIND THE METHODOLOGY OF THE YEAR FACTUAL INTEREST ACCOUNT IN THIS ADDRESS: Yerevan, ER. Qochar str. 19/19. HERE IS A SAMPLE  OF ANNUAL ACTUAL INTEREST AMOUNTCALCULATION.
Nominal interest– 24%
Credit amount - AMD 100.000
One-off service payment - 1.000
Loan maturity - 12 months
Amount generally paid to SEF - AMD 118.080
Factual year interest - 37%
Loan repayment methodology Repayment of the loan and interests shall be performed on annuity basis (equal monthly installments – principle + interests). The interest rate shall be applied towards the reducing balance.
Security (colloteral) type
Loan/collateral ratio  Up to 100% (according to gold evaluation prices shown in Table 1)
Repayment of overdue liabilities For each delayed day a penalty in the amount of 0.4% of the overdue amount shall be accrued starting from the first overdue day. Borrower must pay a charge for each overdue payment, on following order: - In case of loan contracts   up to   AMD 500.000,  AMD 3000
- In case of loan contracts  for  AMD 500.001- 1.000.000  AMD 5000
- In case of loan contracts  for  AMD 1.000.001- 1.500.000     AMD 7500  
- In case of  loan contracts  for more  than  AMD 1.500.001,   AMD 10000 In case of failing the obligations, if collateral is not enough  to fullfill the obligation, obligation  can be fullfilled by other property owned.

ATTENTION

YOUR PROPERTY MAY BE EXPROPRIATED, IF YOU FAIL TO MAKE REPAYMENTS OF YOUR LOAN AND INTERESTS ON TIME. ATTENTION
IF YOU FAIL TO MAKE THE REPAYMENTS ON TIME THE INFORMATION ABOUT YOU SHALL BE REGISTERED IN THE CREDIT REGISTER.
Conditions of early (including partial) loan repayment •  No up-front fee for early loan partial or full repayment and closure without reference to maturity
Loan disbursement methodology Cash and non cash (to the borrower's bank account, by check or by transfer to the company's transit account)
Approval period 1 working day after receiving all required documents
Loan registration place SEF International UCO LLC’s barch offices
Factors impacting the loan extension •  Credit history 
• 
Capacity of paying the loan and interest amounts, credit risk  
• 
Compliance with SEF’s requirements of internal regulations


According to the 8/05 regulation of “Procedures, conditions, forms and minimum requirements for the bank, depositor, creditor and consumer” approved by the board of Central Bank of Armenia, the company provides individual customized document, before loan agreement is signed. 

 

Table 1: Gold evaluation prices 


For SEF’s all branches
Gold evaluating prices
Grade 375 416 500 583 585 750 916 958 999
Value AMD 8,700 9,600 11,600 13,500 13,500 17,300 21,200 22,100 23,100

 






Sample Loan Repayment Schedule  


  Credit amount
 (AMD)
Loan maturity
12 months 24 months
Monthly repayment rate
100.000 9,756 5,587
 
Documents required for loan disbursement
  • Loan application
  • Photocopy of the borrower’s passport 
  • Photocopy of the borrower’s social security card or certificate about its’ absence.

General Conditions Leaflet

FINANCIAL ASSISTANT
http://www.abcfinance.am
Branches & Offices

Sisian Branch
Israyelyan street 6/6
Sisian
Armavir Branch
Erevanyan street, 33/5
Armavir
Ijevan Branch
A. Meliqbekyan 4
Ijevan
Noyemberyan Branch
Zoravar Andranik street 6/2
Noyemberyan
All Branches
Updated: 02.08.2017(12:35)
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Company takes no responsibility for preciseness and genuineness of the contents, advertisements and possible consequences arising from use of information placed in the referenced web sites.
© SEF INTERNATIONAL. 2011 - ALL RIGHTS RESERVED