4 - 10 million AMD
6% - 11% - interest rate
18 - 84 months’ term
Without service fee
If you need money for real estate
• reconstructing,
• renovating / improvement
and you can mortgage renovated, purchased real estate or land which is the destination of building real estate then “KAMURJ” UCO offers you credit wit following condition.
Loan granting conditions
| INDICATOR |
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
|
4,000,000 - 10,000,000 AMD
Maximum AMD 7,000,000 for renovation of an apartment in an apartment building
Maximum AMD 10,000,000 for the renovation of an individual residential building
|
|
Loan/ collateral value ratio
|
In case of renovating real estate 70% of the market value
|
|
Loan repayment
|
18 - 84 months
|
|
Annual interest rate
|
20%
The annual interest rate is subsidized and the loans are provided to the beneficiaries:
• 6% interest rate in bordering or high mountain areas
• 8% interest rate in non-bordering rural settlements
• 9% interest rate in urban settlements that are not bordering settlements
• 11% interest rate in Yerevan
|
|
Annual actual interest rate
|
6.13% - 11.57%
|
|
Granting fee
|
Free of charge
|
|
Loan servicing monthly fee
|
Free of charge
|
|
Loan application review fee
|
Free of charge
|
|
Payment mode
|
• Annuity (equal monthly payments)
• Equal monthly payments of loan amount
|
|
Applicable penalties
|
Overdue loan amount and overdue interest rates 0.12% per day (maximum 90 calendar days)
|
|
Lending territory
|
Territory of RA
|
|
Basic Security
|
Renovating, improving if available more residential real estate collateral too
|
|
Additional Security
|
Guarantee for Legal entity and/or individual, pledge of moveable property
|
|
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 |
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 days of the schedule.
List of necessary documents
Required documents in case of renovation
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.
