Consumer loans provided for weddings celebration in CAUCASUS complex

Consumer loans provided for weddings celebration in CAUCASUS complex
Loan purpose and Creditor Consumer loans are provided to  RA resident and non-resident individuals (from 18 to 65 years old),
Loan amount From 500,000 AMD to 3,000,000 AMD
Loan term  Maximum 36 months
Annual nominal interest rate* 18% 
Loan service fee 
  • Up to 1,000,000 AMD in case of loans: monthly  3,000 AMD,
  • 1,000,000-2,000,000 in case of loans: monthly 5,500 AMD,
  • 2,000,000-3,000,000  in case of loans: monthly 8,000 AMD
Loan interests and service fees calculation method Applied on the actual (non-overdue) balance of loan
Collateral

Real estate and movable property, gold and jewelry

The security is to be evaluated by the Fast Credit Capital UCO cooperated independent company, that has a the real estate evaluation license, or/and by the organization employee, who has a real estate evaluation license. 

The appraisal by the employee of the organization is free of charge.

Surety (if needed) A legal or physical entity, who the contract of suretyship is signed with and that is jointly and severally liable with the Creditor to the Organization for preformance of obligations of the Creditor (the Credit, the calculated interest, commissions, penalties, fines etc.)
Loan to value maximum ratio 
  • Real estate: up to 50 %
  • Gold and jewelry: 100%,
  • Vehicles: up to 50 %
Credit application review in case of positive decision 20,000 AMD
Loan providing method In cash or by transfer, lump sum
Payments  Principal amount, interest and service fee: monthly  annuity
Maximum period to make a decision about the loan application and notifying the customer
*Decision  making period depends on the quantity of the submitted collateral and may  be different from the specified. 
Loan providing term  From 1 to 5 minutes
Loan providing method In cash, lump sum
Positive decision  factors Loan can be provided if the creditor and collateral satisfy the requirements stipulated by the Conditions. 
Loan rejection factors

The loan providing can be rejected if 

  • creditor and/or collateral don’t satisfy the requirements stipulated by the Conditions, 
  • other factors
Requires documents Identification document 
Loan providing branches Kentron and Davtashen branches
Loan early maturity penalty Not charged
In case of security amount inflation, the borrower, if does not pawn a new property in a month, should pay the penalty  5% of credit balance, lump sum 
WARNING
  • IF YOU DO NOT MAKE REPAYMENTS OF INTERESTS AND PRINCIPAL AMOUNT ON TIME, THE INFORMATION ON YOU WILL BE REGISTERED IN CREDIT REGISTER.  
  • YOUR PROPERTY(house, car and other) MAY BE SEIZURED AS STIPULATED BY LAW IF YOU DO NOT MAKE REPAYMENTS OF INTERESTS AND PRINCIPAL AMOUNT ON TIME.
  • IN CASE THE CREDITOR FAILS TO ACCOMPLISH THE LOAN LIABILITIES ARE COVERD BY THE COLLATERAL AND ITS VALUE IS NOT SUFFICIENT FOR COVERING THE WHOLE LIABILITY, THE COMPANY CAN COVER IT BY YOUR OTHER PROPERTY. 
Overdue principal amount penalty
  • 60% per-year for loans from 5,000 AMD to 99,999 AMD
  • 48% per-year for loans from 100,000 AMD to 500,000,000 AMD.
Confiscation penalty  The penalty is calculated 15 % of the loan principal amount (not more than the difference between the collateral realization amount and the creditor total debt) and charged sum lump
ATTENTION 
  • CREDIT INTERESTS ARE CALCULATED BASED ON NOMINAL INTEREST RATES. ANNUAL PERCENTAGE RATE SHOWS HOW MUCH THE CREDIT WILL COST FOR YOU, IF INTERESTS AND OTHER PAYMENTS ARE PAID IN PREDETERMINED TIME PERIOD AND IN PREDETERMINED SIZE. PROCEDURE ON CALCULATION OF ANNUAL PERCENTAGE RATE COULD BE FOUND IN REGULATION 8/01 OF CENTRAL BANK OF RA.
  • YOU CAN MAKE YOUR CREDIT PAYMENTS IN ALL BRANCHES OF FAST CREDIT CAPITAL.