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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

Conditions Description
Name of the product Consumer loan
Target     clientele Individuals
Currency of the credit AMD
Loan amount AMD 50.000 - 500.000
Loan maturity 12 months  (schedule 1)
Periodicrepayment so credit amount and interest amount Monthly
Nominal annual interest rate 0 %
 
Up front fee 16%
Actual annual interest amount 35%-44%

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 AMOUNT CALCULATION.


Annual interest– 0%
Up front fee-16%
Credit amount -  AMD 400.000
Loan maturity - 365 days
Amount generally paid to SEF- AMD 580.000
Actual year interest- 39.1%
Security (collateral) type
  • Purchased goods
  • Guarantee in some cases
Prepayment /loan amount Depends on purchased goods’ evaluation, type, borrower’s loan history, client’s profit.
Loan/collateral ratio up to 100%
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.



WARNING

YOUR PROPERTY MAY BE EXPROPRIATED, IF YOU FAIL TO MAKE REPAYMENTS OF YOUR LOAN AND INTERESTS ON TIME.


WARNING

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
Creditdisbursement 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

Schedule 1: Sample Loan Repayment Schedule

Credit amount 
(AMD)
Credit amount (monthly service fee 0.7%)
12 months
For each repayment
500.000 41,667

Loan terms 
Terms
  minimum maximum
Gas cylinder (for car) 180 1080





 Documents required for loan disbursement
  Passport Social card Approving
income
From residence Other
Gas cylinder (for car) required required required required technical passport

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

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

Kapan Branch
10 Melik-Stepanyan, b. 33/1
Kapan
Kentron Branch
6/23 Northern Avenue
Yerevan
Goris Branch
Komitas street 26/24
Goris
Armavir Branch
Erevanyan street, 33/5
Armavir
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.
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