- The first digital bank in Armenia
- ServicesRetail bankingLOANSSingleTouch
SingleTouchGet fast online loans any time during seven days of the week without much paperwork and red tape. It will be confirmed faster than the preparation of a cup of coffee.
Online loans will be approved automatically 24/7 while the notification on the loan approval will be received within 5 minutes after filing the loan application through EvocaTouch app.
LENDING TERMS AND CONDITIONS
RA resident individuals aged 21-60
Armenian drams (AMD)
AMD 300.000 - 1.000.000
Loan disbursement method and procedure
- Non-cash loans - loan funds will be made available solely to Bank cardholders. The funds will be deposited into their payment cards.
- If you are a Bank client-cardholder, the loan amount will be transferred immediately to your payment card.
- If you are not a Bank cardholder, you will get a payment card provided the loan application is approved by the Bank (you may obtain the payment card in the Bank office or through delivery service). As soon as you confirm the receipt of the payment card, the loan amount will be transferred directly to your card account. Please do not delete EvocaTouch app from your mobile phone prior to receiving a notification on receipt of the payment card, otherwise your loan application may be cancelled.
Annual nominal interest rate
Annual actual interest rate
Loan repayment period
Loan repayment plan
Annuity plan (equal monthly payments, including principal amount and accrued interest)
- A one-time fee at 5% of the loan amount will be charged at the time of loan disbursement.
- Monthly fee for loan servicing – at 0.1% of the loan amount.
- Relevant fees will be charged for payment card transactions (such as cash withdrawal, money transfer, etc.) in line with Bank tariffs.
Fines and penalties
- For overdue principal amount - 0,015 % per day,
- For overdue interest - 0,1% per day.
- In the event the loan application is declined, a new loan application may be filed only after a month following the date of loan application rejection.
- A loan application filed through the same device (cell phone, tablet computer, etc.) or e-mail as well as the same cell phone number may be submitted once in three months.
- The client can have only 1 (One) current loan of the same loan type.
- At the time of filing a loan application, the total amount of client's unsecured loans cannot exceed AMD 3 million or its foreign currency equivalent, while their number should not exceed 3.
In case of approval of your loan application, your individual sheet and loan agreement will be forwarded to the electronic address indicated in your loan application.
- 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.
- NO PENALTY WILL BE CHARGED for loan early repayment.
- Interest accrual will start from the date of depositing the loan amount into the payment card.
- 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) can be found on the web-site of RA Central Bank.
- Mandatory information (changes that have taken place during the validity of the agreement in nominal interest rates, ways of communication between the parties, general and other service charges and information on amendments to legal documents affecting the parties' rights and obligations under the agreement) can be obtained by postage service or in other preferred manner. Once every 30 days the Bank will provide you with a account statement.
- Contractual relations between the bank and its clients are regulated by TERMS AND CONDITIONS OF COMPLEX BANKING SERVICES, which are a public offering and considered as accepted once a duly filled out and signed bank service application is submitted by the client in-person or online. Terms and Conditions of Complex Banking Services can be found here.
- The terms and conditions of other available consumer loans can be found at relevant pages of our web-site.
- Complaints arising during the term of validity of the loan agreement can be filed to the Bank. The process of reviewing client’s complaints is outlined on www.evocabank.am website. You are entitled to file your complaints and claims to the Financial system defender in the manner envisaged by RA legislation. You can also protect your rights taking the case to a court. The process of protecting rights can be found at the following link.
Your loan application may be declined:
- In case of inadequate credit worthiness set under these terms and conditions,
- In case of unreliability of the data and documents submitted to the Bank,
- In case of a negative credit history.
- IN THE EVENT OF FAILURE TO DULY REPAY YOUR LIABILITIES UNDER THE SET SCHEDULE THE BANK AFTER THREE BUSINESS DAYS FOLLOWING YOUR DELINQUENCY WILL FORWARD YOUR DATA (INFORMATION ON NON-FULFILLMENT OR INADEQUATE FULFILLMENT OF FINANCIAL OBLIGATIONS) TO THE CREDIT BUREAU.
- Non-fulfillment or inadequate fulfillment of financial obligations will affect your credit history which is a set of information on your financial liabilities that is collected, accumulated and regularly updated by your credit organizations and/or Credit Bureau. The credit history is examined during the loan application review and plays a significant role in taking a decision on a loan application.
Prior to filing a loan application and concluding a loan agreement you can obtain oral information and explanations from Bank employee on online loan service by calling: +374 10 605555.