Consumer loans

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Annuity Reducing

Consumer Loan secured with real estate pledge without incomes

1-15 million AMD

Up to 84 months term

 

If You need money

 

  •  for consumer purposes

 

and You can pledge a real estate , then “Kamurj”UCO CJSC offers You loan with the following conditions:

 

 

Loan granting conditions


Indicators  Limits 
Borrower (s) RA citizens and RA resident individuals
Age limits Borrower's age at the moment of applying minimum 20, maximum 70
Loan amount 1,000,000 - 15,000,000 AMD
Loan maturity  Up to 84 months 
Loan annual interest rate

18.5%

Loan monthly service fee Free of charge
Prepayment of principal amount Annually equal or annuity  
Interests repayment Monthly accrued of loan balance
Lending territory RA
Loan providing fee

1.5% of the loan amount  (lump-sum) 

minimum - 45,000 AMD

Loan application review fee 5,000 AMD
Cash withdrawal fee 0.20%
Basic security

Real estate

Loan/collateral value ratio 40% - 50%
Additional security Guarantee for Legal entity and / or individual, pledge of moveable property and so on  
Pledge Insurance

Is not mandatory

The borrower covers the insurance expenses according to the tariffs of insurance companies

For accidents, 0.16% of the loan amount

For collateral insurance, 0.16% of the loan amount

Applicable penalties

Overdue loan amount and overdue interest rates 0.12% per day (maximum 90 calendar days)

Maximum length of decision-making

Within 7 days after presentation of all the required documents

Maximum length of  loan granting

Аfter the state registration and submission of the pledge right: 2 working days

Assessment of pledged property

15,000 AMD

 


 Penalty payment


If the borrower does not perform his loan repayment liabilities in time, or does it partially  (according to the agreement between the Creditor and the Borrower), the borrower is obliged to pay fines to the creditor. Starting from the default day 0,2 percent of the overdue amount will be calculated for each day as a penalty.If the borrower does not perform his loan interest rate payment liabilities in time, or does it partially (according to the agreement between the Creditor and the Borrower), the borrower is obliged to pay fines to the creditor. Starting from the default day 0,3 percent of the overdue interest amount will be calculated for each day as a penalty.

 

Loan prepayment conditions 


According to RA law on Consumption Loans the borrower is entitled to prepay the whole principal amount. In this case the borrower repays only the fines and interests for used days prior to that moment.

 


List of necessary documents

List of necessary documents

 


Loan processing place 
 

«KAMURJ» UCO head office and branches .


 Factors influencing on loan granting approval and rejection decisions


 

Example

 

Suppose You have borrowed 8,000,000 AMD loan with 60 months period with 24% interest rate. In that case the annual actual percentage rate for the Consumer loan with secured pledge will be  28.45%:

 

 

 

  Actual Annual interest rate 


ATTENTION: Annual real rate shows how much the loan will cost to you after paying the interest rate and other payments in defined deadlines and amounts. You can find the calculation order of annual real interest rate in following address  
8/01


 

ATTENTION: If you do not perform your whole liabilities within prescribed time, the information about you will be recorded in the Credit Register of the Central Bank of Armenia by the creditor.

 

WARNING: Your assets (house, car, etc.) may be confiscated if you do not make payments of interest and credit amount within the prescribed time as well as other regulations specified in the agreement between you and the “Kamurj” company.


 

General sheet for  conditions of Consumer loan with secured pledge without incomes justification