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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
Credit purchase consumer loans

   
Conditions Description
Name of the product Consumer loan
Target clientele Individuals
Up-front fee  Depends on purchased goods’ type different up-front fees are paid (schedule 1) 
Currency of the credit AMD
Loan amount AMD 50.000 - 1.500.000
Loan maturity 6-60 months  (schedule 1)
Periodic repayments of credit amount and interest amount Monthly
Nominal annual interest rate  24% *
Exception 
1. In the case of loans in cooperation with "Pretty Way" LTD (VESTA), "Barsis" LTD (Nor Tun chain), "Vega World" LTD (VEGA), "VLV Center" LTD (VLV), "ELMARKET" LTD (I-Electronics), "Zigzag" LTD (Zigzag), "Ed-Spo" LTD (BEKO), "Venus-el" LTD (VENUS) and "Imex Group" LTD, "Gagik Musayelyan" PE (VS Gas Service) LTD, "Elen Decor" 
LTD, "Premium Gas" LTD, "Avtoshem" LTD, "Nadin" LTD, Davit Martirosyan PE, "Regal Plast" LTD, "ARANTSK" LTD, "Haykar" LTD, Electronic World LTD  the nominal interest rate is 23%
Monthly service payment 1% ***
In the case of prepaid loans, the fee is charged according to the number of days used:
Exception 
1. In the case of loans in cooperation with "Pretty Way"
 LTD (VESTA), "Vega World" LTD (VEGA), "VLV Center" LTD (VLV), "ELMARKET" LTD (I-Electronics), "Zigzag" LTD (Zigzag), "Ed-Spo" LTD (BEKO), "Venus-el" LTD (VENUS), "Barsis" LTD (Nor Tun chain) and "Imex Group" LTD,"Gagik Musayelyan" PE (VS Gas Service) LTD, "Elen Decor" LTD, "Premium Gas" LTD, "Avtoshem" LTD, "Nadin" LTD, Davit Martirosyan PE , "Regal Plast" LTD, "ARANTSK" LTD, Electronic World LTD regardless of product type, monthly service fee is 0.5% monthly service fee is 0.5%.
Actual annual interest amount 38%-50%

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 ACTUAL INTEREST ACCOUNT IN THIS ADDRESS: Yerevan, ER. Qochar str. 19/19.

HERE IS A SAMPLE  OF ANNUAL ACTUAL INTEREST AMOUNTCALCULATION:


Monthly service fee - 0.5%
Annual interest– 23%
Credit amount -  AMD 100.000
Loan maturity - 720 days
Amount generally paid to SEF- AMD 137.696
Actual year interest- 38.2 %
Restrictions Loans are disbursed only for purchasing goods from the stores, having  cooperation  contracts with SEF
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
  • Purchased goods
  • Guarantee in some cases
Prepayment /loan amount Depends on purchased goods’ evaluation, type, borrower’s loan history, client’s profit.
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.
In case of failing the obligations, if collateral is not enough to fullfill the obligation, obligation  can be fullfilled by borrower’s other property.

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
Credit disbursement methodology Bank transfer to the selling shop’s bank account
Approval period After receiving all required documents up to 1 working days    
Loan registration place Commercial centers that have cooperation agreement with SEF International UCO  
Factors impacting the loan extension • Credit history
• Capacity of paying the loan and interest amount, credit risk
• Compliance with the requirements of internal regulations of the Bank
Announcement 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. 

SEF International UCO does not finance cell phone and tablet (if the value is more than AMD 100.000 ) consumer purchases. 

Sample Loan Repayment Schedule

 Credit amount
(AMD)
Credit amount
24 months 36 months
For each repayment in case of 0.5% monthly service fee 
250.000 14,343 10,927

 Documents required for loan disbursement

  Passport Social card Approving
income
From residence Other
Household appliances required required required as required  
Computer required required required as required Despite of the 
product cost one 
guarantee is required
Heating installation service required required required as required Certificate of property ownership
Furniture required required required as required  
Doors and Windows required required required as required Certificate of property ownership
Gas instalation for the car required required required as required Car’s technical passport
Other required required required as required As required
Regardless of the type of product, salary certificate is not required if the following 3 conditions are satisfied:
  • Product cost is not exceed AMD 500,000
  • if the borrower's previous or current loan amount exceeds AMD 500,000 or equivalent foreign currency
  • During the last 12 months the number of  overdue days does not exceed 15 days.

 

General Conditions Leaflet

FINANCIAL ASSISTANT
www.abcfinance.am
Branches & Offices

Masis Branch
M. Heratsi 13
Masis
Goris Branch
Komitas street 26/24
Goris
Nor Bayazet Branch
Zoravar Andranik 31street
Gavar
Kentron Branch
6/23 Northern Avenue
Yerevan
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