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Annuity Reducing

Energy Efficient Housing Microloan

300,000 -2 million AMD

10.5% interest rate

With 10 years’ term

Without a service fee


If you need money for Energy Efficient (EE) residential real estate




  then “KAMURJ” UCO offers you a credit with the following conditions.


Loan granting conditions  



Borrower (s)

RA citizen and RA resident individual (s) 

Age limitation 

Borrower’s age at the moment of applying minimum 18, maximum 70

Loan amount

300,000-2,000,000 AMD 

Loan/ collateral value ratio 

 In case of purchasing, minimum 70 % from estimated market/ acquisition values of real estate,

 In case of  an additional collateral and purchased real estate, In case of pledge of acquired and additional real estates, maximum 70% of  liquidation total amount, but not more than 90% of the estimated market/acquisition value of the acquired real estate,

•  In case of acquisition loans, if there will be a  difference between  the estimated market and acquisition values,  for credit /mortgage, minimum ratio is taken as a basis,

 In case of building and additional real estate, 70 % of total estimated liquidation values

Down payment 

 Minimum 30% of obtaining real estate price in case of real estate pledge

 In case of pledging the acquired and additional real estate, minimum 10% of the total acquisition cost of real estate

Loan repayment

120 months

Annual interest rate


Annual actual interest rate


Granting fee

Lump Sum 1% of loan amount 

Loan servicing monthly fee

Free of charge 

Loan application review fee

Free of charge

Cash withdrawal fee

Free of charge

Payment mode

Equal monthly payments (annuity)

Moreover, if borrower’s/co-borrower’s incomes are derived from agriculture, at least three payments of the loan amount need to be done at each 12-months period of the loan term  

Grace period for loan payment

0 month

 if the property is in Yerevan city

 if the property is located in the regions of RA, but  borrower’s/ co-borrower’s incomes are on a periodic/monthly basis,

up to 90 months

if the property is located in the regions of RA and borrower’s/ co-borrower’s incomes are derived from the agriculture.

Early payment penalty

The borrower should pay accrued interests and penalties (if any) until the early payment date

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

Lending territory

Territory of RA 

Basic security 

  •  purchasing, building real estate pledge

if the property is in Yerevan city

  •  at least 2 guarantees

if the property is located in the regions of RA 

Maximum term of loan approval

Within 7 days after presentation of all the required documents

Maximum length of loan granting Within a day after presentation of all the required documents

The program is implemented by the “National Mortgage Company” UCO CJSC funding.


¹ During the previous 12 months, borrower’s/co-borrower’s total amount of loan overdue days can not exceed 30 calendar days.

² Persons who are affiliated with borrower can not be guarantees for the same borrower and loan. Co-borrower can not be a guarantee for the same loan.

Other Conditions


The peculiarities of loans granted for the purpose of EE real estate purchasing.

 1. The evaluation of purchasing real estate is conducted through a questionnaire, assessing the EE. Energy efficient evaluation of an apartment is not required, when it is in a multi-apartment building, where the apartment is located, when the class of EE is C+ or higher, or EE evaluation made by other methodology available for the company (for example, carried out by international organizations).

 2.  Real estate purchasing loans are provided solely cashless.   

The peculiarities of loans granted for the purpose of EE real estate construction.

 1. In case of loans for construction, the amount of loan can not exceed 80% of the budget amount within the execution of construction works.

 2. The property under construction is considered Energy Efficient, when the latter’s EE class is C+ or higher, or when the estimated result of the residential real estate under construction, made through the EE assessment questionnaire, is positive. 


Necessary requirements for Borrower’s credit history

 Loan obligations should not be overdue at the moment of loan granting decision

 The number of overdue days for the last 12 months (repaid and acting) must not exceed 30 calendar days.



 1. Insurance of pledged real estate within the loan balance amount,

 2. Borrower’s/ co-borrowers’ insurance from accidents within the loan balance amount,

 3. Insurance costs are paid by the borrower according to the tariffs of insurance companies,

 4. “KAMURJ” UCO CJSC acts as a beneficiary. 


List of necessary documents


Required documents in case of building

Required documents in case of obtaining


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 the following address 8/01.


ATTENTION: The lender provides the information about the borrower’s obligations to the Credit Registry of the Central Bank of Armenia.


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.