Mortgage / RENOVATION LOANS

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Annuity Reducing

JERM OJAKH micro credit

300,000 - 3,000,000 AMD

With 12% interest rate

With the term of 5 - 10 years

Without service fee

Without pledge

Possibility of receiving grant up to 5% of loan contractual amount 

 


If you need money for your residential real estate
 

      renovation
      improvement
 

then “KAMURJ” UCO offers you unpledged loan.  

 

Loan granting conditions 

INDICATOR

CONDITIONS

Borrower (s)

RA citizen (s) and RA resident individual (s)

Age limitation 

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

The program provides a single crediting opportunity

Loan amount

300,000 - 3,000,000 AMD

Annual Interest rate

12%

Annual actual interest rate

12.96% - 13.17%

Loan repayment  

5 - 10 years

Grace period of loan amount

0 months or preliminary 6 - 12 months

Disbursement fee

Lump Sum 1% of loan amount,

Repayment mode

 Annuity (equal monthly payments)
 Equal monthly payments of the loan amount

Monthly service fee

Free of charge

Loan application review fee

Free of charge

Cash withdrawal fee

Free of charge

Lending territory

All the territories of RA excluding administrative district Kentron of Yerevan city   

Loan security

Guarantee of 1 or 2 individuals depending on the loan amount

Insurance

Not necessary

Prepayment fine

The borrower is obliged to pay until the prepayment day the calculated interests, which cannot be less than the first eight interest amount stipulated in schedule as well as penalty fees (if they exist). 

Applicable penalties

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

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.

The EA Assessment Tool is available online at  http://www.jermojakh.com/en

  

List of necessary documents

 

Required documents

 

Օther conditions


 If more than 40% of the credit funds are directed to buying energy-efficient materials and products, then the UFPC (Unit for financing of the programmatic credits)  provides a grant of 5% of the contractual loan amount, which is used to repay or reduce the loan amount.  

At the same time, no more than 20% of the contractual amount of the loan can be used for the purchase of EE equipment.

 Co-borrower (and/or owner) can be only family members: father, mother, husband, husband's parents, grandparents, sister, brother, children, sister’s husband, brother's wife and their children.

 

 

Aactual annual interest rate
 
 

ATTENTION: Actual annual interest 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 interest rate by pressing here  8/01

 
 


Almost all loans up to 3 million AMD or up to 6,000 USD, in about 40 border communities of Tavush, Vayots Dzor, Gegharkunik and Ararat regions of Armenia, are provided with the following privileges:


    Without charging granting fees

    Without charging loan servicing monthly fees

    At reduced interest rate

 

According to the list of border communities

approved by RA Government decision N30-N 15/01/2015 

 


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.