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Pawn Loans

We offer pawn loans secured by jewelry.
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Loans may be obtained through all our branches (except Erebuni branch).

LENDING TERMS AND CONDITIONS

Currency

AMD

Eligible borrowers

RA resident and non-resident individuals

Loan amount

From AMD 100,000 to AMD 10,000,000 (in marzes - starting AMD  50,000)

Loan disbursement method

Cash/non-cash

Loan term

3 - 24 months

Interest rate (per annum)

10% - for loans with maturity up to 3 months,
12% - for loans with maturity 6 months,

For loans with maturity  from 6 to 24 months:

14% - in case of monthly payment of principal and interest (according to the set schedule),
15% - in case of monthly payment of interest only (there is no set schedule for repayment of the principal amount).

Collateral

Gold items: jewelry, gold bullions and scrap.

Loan-to-value ratio

In the event of monthly payment of principal and interest (according to the schedule) or in cases of loans without principal repayment schedule maturing in 6 months – up to 95% of the appraised value of jewerly.
In case of loans with no principal repayment schedule and with maturity over 6 months – up to 90% of the appraised value of jewelry.

Commission fees

1% of the loan amount but not more than AMD 20,000.
The commission fees are payable in a lump-sum at the moment of loan disbursement.

Timeline for making a decision on loan application, customer notification on the relevant decision and advancing the loan

• The decision will be made on the day of submission of the loan application and other required documents upon examination and appraisal of the pledgeable valuables.
 The loan will be made available to you during 1 (One) business day upon approving the loan application.

• We will notify you on the decision made regarding the loan application within 1 (One) business day orally or at your request, also in writing.


USEFUL INFORMATION

  • List of Required Documents
    • Loan application,
    • Passport and social card or statement on its absence or ID card only,
    • If needed, a document certifying the collateral ownership,
    • Other documents as may be required by the bank.
  • WARNING
    • Failure to promptly pay the loan principal amount and interest may entail a loan foreclosure, while information on your default will be recorded in the Credit Registry.
    • If the collateral value is not sufficient to repay the liabilities arising from a failure to duly fulfill your debt service obligations, we will be entitled to recover the debt by selling your other property (if any) (as stipulated in the current legislation).
    • In case of a failure to duly honor your payment obligations (loan principal amount and interest), you will be obliged to PAY PENALTIES  at 0.015% of the overdue principal  amount and 0.1% of the overdue interest per day.
  • Reyment of the Loan Principal Amount and Interest
    • Payments shall be made:
      • For loans under AMD 2,000,000 maturing within one year  - there is no fixed  schedule  for loan amortization (the principal amount is payable without following any set schedule, while interest is payable on a monthly basis).
      • For loans with maturity above one year – according to set schedule.
    • The loan principal amount and interest are payable under one of the below option as may be chosen by you:
      • "Annuity" plan (equal monthly payments), including variable portions of the principal amount and accrued interest,
      • "Springy" plan (variable monthly payments), including the payment of fixed  principal amounts and variable interest.
    • You will incur no penalties for early loan repayment.
    • Interest calculation is based on a 365-day year. If the due date is not a business day, this date will be extended to the next business day.

    Attention: The amount of interest on the loan is computed on the basis of NOMINAL INTEREST, while the ACTUAL ANNUAL INTEREST RATE shows the cost of the loan when you duly pay interest and other charges. The procedure of annual actual interest rate computation (CBA Regulation 8/01) may be found on the web-site of RA Central Bank: www.cba.am.

Updated 30.08.2019 | 13:32:19