Credit line with reducible limit with deposit pledge is provided to the Bank’s individual customers who deposit their account funds.
A depositor can get Visa Classic/MasterCard Standard card free of charge if the amount currently deposited in the deposit account is equal to or not exceeding AMD 7,5 million (equivalent foreign currency) or Visa Gold/MasterCard Gold card, if the current amount on the deposit account exceeds AMD 7.5 million (equivalent foreign currency).
In case of payment transactions made through the credit line attached to VISA Classic/MasterCard Standard, VISA Gold/MasterCard Gold payment cards and repaid on the 7th and 14th days of the following month, the interest rate is not calculated.
You can apply for cards online here.
You can learn about the card issuance and service tariffs as well as the non-interest payment period for using credit lines via the following link: Card Tariffs
Credit line calculation example
Confiscation of collateral
THE PLEDGED PROPERTY MAY BE CONFISCATED, IF THE BORROWER DOES NOT MAKE DUE REPAYMENTS OF THE INTEREST AMOUNTS AND LOAN PRINCIPAL. IF THE COLLATERAL VALUE IS NOT SUFFICIENT, THE BORROWER’S LIABILITIES SHALL BE REPAID AT THE EXPENSE OF OTHER PROPERTY OF THE BORROWER.
Information to be submitted to the Credit Registry
IN CASE OF FAILURE BY THE BORROWER TO PAY INTEREST ON THE LOAN AND PRINCIPAL THEREOF IN ACCORDANCE WITH THE REPAYMENT SCHEDULE, INFORMATION ABOUT THE BORROWER WILL BE SUBMITTED TO THE CREDIT REGISTRY.
“BAD” CREDIT HISTORY MAY IMPAIR YOUR ABILITY TO OBTAIN LOANS / CREDITS IN THE FUTURE.