Refinancing
Loan to achieve your goals
Unsecured Consumer Loan Refinancing
When loans start piling up, payment dates get confusing, and interest rates keep rising, it’s time to choose the simplest solution. Amio bank offers the opportunity to replace multiple loans with one single loan, pay lower interest, and get rid of financial stress.
Interest rate
from 13.5%
Amount
up to AMD 15 million
Term
Term
Benefits
Reduction of loan interest rate
Consolidation of multiple loans into one
Decreased monthly repayment burden
No commission fees
Type of Loan - Refinancing of unsecured consumer loans
Currency - AMD
Term - 60 months
Nominal Annual Interest Rate (depending on the employer’s sector and receipt of salary in the Bank)¹ - 13.5% - 18%
The interest rate is fixed for the entire loan term Interest is calculated on the declining balance on a daily basis
Annual Percentage Rate (APR) - 14.4% - 19.8%
Repayment Method - Equal monthly payments of principal and accrued interest (annuity)
Minimum Loan Amount - AMD 100,000
Maximum Loan Amount²² - AMD 15,000,000
Early Repayment - No restrictions
Loan Application Review Fee - None
Monthly Loan Account Maintenance Fee - None
One-time commission fee - Not set
depending on the type of refinancing preferred by the client, a one-time disbursement fee of 0.4% of the initial loan amount may be set
Loan disbursement method
To the bank account opened by the client at "AMIO BANK" CJSC or to the debit card account, via non-cash transfer. Loans in other banks will be repaid via a credit code by making a transfer.
Cash withdrawal of loan funds
According to the Bank's service tariffs՝ at the rates set for the given type of account or card.
¹In case the client does not receive salary through the Bank's accounts for 3 consecutive months, the loan interest rate may increase by the amount of the discount granted (for receiving salary through the Bank).
²The maximum limit of unsecured loans in "AMIO BANK" CJSC for one client should not exceed 15 million AMD.
Loan Application Review Period - Up to 1 business day
Maximum Validity Period for Positive Loan Decision - 15 calendar days from the date of the positive loan decision
Loan Disbursement Period - Within 1 business day after signing the loan agreements
Borrower’s Income Verification - Confirmation of the borrower’s employment or analysis of primary and/or secondary income.
Security - The right to receive income and/or the pledge of monetary claims arising from a bank/card account (in applicable cases, may also include a guarantee)
Loan Terms Revision (change of payment date, change of participants, etc.) - 0.2% of the loan balance, with a minimum of AMD 5,000
Provision of Statement and Certificate for Loan Account - According to the tariffs in effect at the Bank
Penalties applied in case of the borrower’s failure to fulfill obligations
The Bank has the right to:
- Continue to apply the interest calculation provided by the Agreement to the overdue loan.
- Apply a penalty to overdue loan principal and overdue interest at the rate of 0.13% for each day of delay.
- In case of overdue obligations, repayments are made in the following order:
- Penalties/fines,
- Interest charges,
- Principal amount.
Attention
The borrower’s property may be seized in accordance with the law if they fail to fulfill or improperly fulfill the obligations under the loan agreement.
In case of non-fulfillment or incomplete fulfillment of obligations by the borrower, the lender sends this data to the credit bureau after 3 business days, where the borrower's credit history is formed. The borrower has the right to receive their credit history from the credit bureau once a year free of charge. A bad credit history can hinder obtaining a loan in the future.
Possible reasons for loan application rejection
- The Customer does not meet the conditions and requirements set by the Bank.
- As a result of the creditworthiness assessment, it was found that the Customer is not creditworthy.
- As a result of the inquiry of the Credit Register of the Central Bank of the Republic of Armenia and/or the ACRA Credit Bureau, it was found that the Customer has a negative credit history.
- As a result of the lending process, information about the Customer became known that casts doubt on the reliability of the information provided by the Customer or the repayability of the loan.
- The Customer did not submit the documents necessary for obtaining a loan.
Nominal and Effective Interest Rate of a Loan
The interest rate on a loan cannot exceed twice the Central Bank of Armenia’s base interest rate.:
Loan interest is calculated based on the nominal interest rate, while the effective annual interest rate shows the actual cost of the loan if the obligations under the agreement are properly fulfilled on time.
Information on Credit History and Credit Score
Information for Guarantors
- If the borrower fails to fulfill their obligations, the guarantor is obligated to make the payment on their behalf, which may negatively affect the guarantor’s credit history and create a risk of asset loss.
- The guarantor will be provided with examples of the loan agreement, the guarantee agreement, and the repayment schedule.
- Communication will be conducted using the method chosen by the guarantor․
- The guarantor will be notified 7 days in advance of any changes to the terms of the agreement.
- A reminder regarding any outstanding obligation will be sent 1 day in advance.
- In case of a delay in loan repayment, the guarantor will be informed no later than 1 day after the delay occurs.
The Guarantor Has the Right to:
- Request information from the lender at any time regarding the outstanding loan balance.
- Recover from the borrower any amounts paid by the guarantor on the loan, as well as any other losses incurred on behalf of the borrower.
Key requirements for the borrower and the guarantor³ (if applicable)
Status - individual resident of the Republic of Armenia
Minimum age - 18 years
Maximum age - Must not exceed 65 years at the time of loan repayment
Requirements Regarding Credit History and Repayment Capacity - In accordance with the requirements established by the Bank.
³Depending on the type of refinancing chosen by the client (based on proof of salary or income analysis), the loan may also be granted with a guarantor.
Depending on the type of refinancing preferred by the client (based on the fact of salary availability or income analysis), documents may be required within the framework of the loan according to the list of required documents։
When applying for a loan, the lender will provide the borrower, as well as the guarantor(s) (if any), with an individual consumer loan essential terms sheet, which will present the individual terms of the loan to be provided to the borrower.
Other loans
Unsecured Consumer Loan Refinancing
When loans start piling up, payment dates get confusing, and interest rates keep rising, it’s time to choose the simplest solution. Amio bank offers the opportunity to replace multiple loans with one single loan, pay lower interest, and get rid of financial stress.
Interest rate
from 13.5%
Amount
up to AMD 15 million
Term
Term
Benefits
Reduction of loan interest rate
Consolidation of multiple loans into one
Decreased monthly repayment burden
No commission fees
Type of Loan - Refinancing of unsecured consumer loans
Currency - AMD
Term - 60 months
Nominal Annual Interest Rate (depending on the employer’s sector and receipt of salary in the Bank)¹ - 13.5% - 18%
The interest rate is fixed for the entire loan term Interest is calculated on the declining balance on a daily basis
Annual Percentage Rate (APR) - 14.4% - 19.8%
Repayment Method - Equal monthly payments of principal and accrued interest (annuity)
Minimum Loan Amount - AMD 100,000
Maximum Loan Amount²² - AMD 15,000,000
Early Repayment - No restrictions
Loan Application Review Fee - None
Monthly Loan Account Maintenance Fee - None
One-time commission fee - Not set
depending on the type of refinancing preferred by the client, a one-time disbursement fee of 0.4% of the initial loan amount may be set
Loan disbursement method
To the bank account opened by the client at "AMIO BANK" CJSC or to the debit card account, via non-cash transfer. Loans in other banks will be repaid via a credit code by making a transfer.
Cash withdrawal of loan funds
According to the Bank's service tariffs՝ at the rates set for the given type of account or card.
¹In case the client does not receive salary through the Bank's accounts for 3 consecutive months, the loan interest rate may increase by the amount of the discount granted (for receiving salary through the Bank).
²The maximum limit of unsecured loans in "AMIO BANK" CJSC for one client should not exceed 15 million AMD.
Loan Application Review Period - Up to 1 business day
Maximum Validity Period for Positive Loan Decision - 15 calendar days from the date of the positive loan decision
Loan Disbursement Period - Within 1 business day after signing the loan agreements
Borrower’s Income Verification - Confirmation of the borrower’s employment or analysis of primary and/or secondary income.
Security - The right to receive income and/or the pledge of monetary claims arising from a bank/card account (in applicable cases, may also include a guarantee)
Loan Terms Revision (change of payment date, change of participants, etc.) - 0.2% of the loan balance, with a minimum of AMD 5,000
Provision of Statement and Certificate for Loan Account - According to the tariffs in effect at the Bank
Penalties applied in case of the borrower’s failure to fulfill obligations
The Bank has the right to:
- Continue to apply the interest calculation provided by the Agreement to the overdue loan.
- Apply a penalty to overdue loan principal and overdue interest at the rate of 0.13% for each day of delay.
- In case of overdue obligations, repayments are made in the following order:
- Penalties/fines,
- Interest charges,
- Principal amount.
Attention
The borrower’s property may be seized in accordance with the law if they fail to fulfill or improperly fulfill the obligations under the loan agreement.
In case of non-fulfillment or incomplete fulfillment of obligations by the borrower, the lender sends this data to the credit bureau after 3 business days, where the borrower's credit history is formed. The borrower has the right to receive their credit history from the credit bureau once a year free of charge. A bad credit history can hinder obtaining a loan in the future.
Possible reasons for loan application rejection
- The Customer does not meet the conditions and requirements set by the Bank.
- As a result of the creditworthiness assessment, it was found that the Customer is not creditworthy.
- As a result of the inquiry of the Credit Register of the Central Bank of the Republic of Armenia and/or the ACRA Credit Bureau, it was found that the Customer has a negative credit history.
- As a result of the lending process, information about the Customer became known that casts doubt on the reliability of the information provided by the Customer or the repayability of the loan.
- The Customer did not submit the documents necessary for obtaining a loan.
Nominal and Effective Interest Rate of a Loan
The interest rate on a loan cannot exceed twice the Central Bank of Armenia’s base interest rate.:
Loan interest is calculated based on the nominal interest rate, while the effective annual interest rate shows the actual cost of the loan if the obligations under the agreement are properly fulfilled on time.
Information on Credit History and Credit Score
Information for Guarantors
- If the borrower fails to fulfill their obligations, the guarantor is obligated to make the payment on their behalf, which may negatively affect the guarantor’s credit history and create a risk of asset loss.
- The guarantor will be provided with examples of the loan agreement, the guarantee agreement, and the repayment schedule.
- Communication will be conducted using the method chosen by the guarantor․
- The guarantor will be notified 7 days in advance of any changes to the terms of the agreement.
- A reminder regarding any outstanding obligation will be sent 1 day in advance.
- In case of a delay in loan repayment, the guarantor will be informed no later than 1 day after the delay occurs.
The Guarantor Has the Right to:
- Request information from the lender at any time regarding the outstanding loan balance.
- Recover from the borrower any amounts paid by the guarantor on the loan, as well as any other losses incurred on behalf of the borrower.
Key requirements for the borrower and the guarantor³ (if applicable)
Status - individual resident of the Republic of Armenia
Minimum age - 18 years
Maximum age - Must not exceed 65 years at the time of loan repayment
Requirements Regarding Credit History and Repayment Capacity - In accordance with the requirements established by the Bank.
³Depending on the type of refinancing chosen by the client (based on proof of salary or income analysis), the loan may also be granted with a guarantor.
Depending on the type of refinancing preferred by the client (based on the fact of salary availability or income analysis), documents may be required within the framework of the loan according to the list of required documents։
When applying for a loan, the lender will provide the borrower, as well as the guarantor(s) (if any), with an individual consumer loan essential terms sheet, which will present the individual terms of the loan to be provided to the borrower.
Other loans
Unsecured Consumer Loan Refinancing
When loans start piling up, payment dates get confusing, and interest rates keep rising, it’s time to choose the simplest solution. Amio bank offers the opportunity to replace multiple loans with one single loan, pay lower interest, and get rid of financial stress.
Interest rate
from 13.5%
Amount
up to AMD 15 million
Term
Term
Benefits
Reduction of loan interest rate
Consolidation of multiple loans into one
Decreased monthly repayment burden
No commission fees
Type of Loan - Refinancing of unsecured consumer loans
Currency - AMD
Term - 60 months
Nominal Annual Interest Rate (depending on the employer’s sector and receipt of salary in the Bank)¹ - 13.5% - 18%
The interest rate is fixed for the entire loan term Interest is calculated on the declining balance on a daily basis
Annual Percentage Rate (APR) - 14.4% - 19.8%
Repayment Method - Equal monthly payments of principal and accrued interest (annuity)
Minimum Loan Amount - AMD 100,000
Maximum Loan Amount²² - AMD 15,000,000
Early Repayment - No restrictions
Loan Application Review Fee - None
Monthly Loan Account Maintenance Fee - None
One-time commission fee - Not set
depending on the type of refinancing preferred by the client, a one-time disbursement fee of 0.4% of the initial loan amount may be set
Loan disbursement method
To the bank account opened by the client at "AMIO BANK" CJSC or to the debit card account, via non-cash transfer. Loans in other banks will be repaid via a credit code by making a transfer.
Cash withdrawal of loan funds
According to the Bank's service tariffs՝ at the rates set for the given type of account or card.
¹In case the client does not receive salary through the Bank's accounts for 3 consecutive months, the loan interest rate may increase by the amount of the discount granted (for receiving salary through the Bank).
²The maximum limit of unsecured loans in "AMIO BANK" CJSC for one client should not exceed 15 million AMD.
Loan Application Review Period - Up to 1 business day
Maximum Validity Period for Positive Loan Decision - 15 calendar days from the date of the positive loan decision
Loan Disbursement Period - Within 1 business day after signing the loan agreements
Borrower’s Income Verification - Confirmation of the borrower’s employment or analysis of primary and/or secondary income.
Security - The right to receive income and/or the pledge of monetary claims arising from a bank/card account (in applicable cases, may also include a guarantee)
Loan Terms Revision (change of payment date, change of participants, etc.) - 0.2% of the loan balance, with a minimum of AMD 5,000
Provision of Statement and Certificate for Loan Account - According to the tariffs in effect at the Bank
Penalties applied in case of the borrower’s failure to fulfill obligations
The Bank has the right to:
- Continue to apply the interest calculation provided by the Agreement to the overdue loan.
- Apply a penalty to overdue loan principal and overdue interest at the rate of 0.13% for each day of delay.
- In case of overdue obligations, repayments are made in the following order:
- Penalties/fines,
- Interest charges,
- Principal amount.
Attention
The borrower’s property may be seized in accordance with the law if they fail to fulfill or improperly fulfill the obligations under the loan agreement.
In case of non-fulfillment or incomplete fulfillment of obligations by the borrower, the lender sends this data to the credit bureau after 3 business days, where the borrower's credit history is formed. The borrower has the right to receive their credit history from the credit bureau once a year free of charge. A bad credit history can hinder obtaining a loan in the future.
Possible reasons for loan application rejection
- The Customer does not meet the conditions and requirements set by the Bank.
- As a result of the creditworthiness assessment, it was found that the Customer is not creditworthy.
- As a result of the inquiry of the Credit Register of the Central Bank of the Republic of Armenia and/or the ACRA Credit Bureau, it was found that the Customer has a negative credit history.
- As a result of the lending process, information about the Customer became known that casts doubt on the reliability of the information provided by the Customer or the repayability of the loan.
- The Customer did not submit the documents necessary for obtaining a loan.
Nominal and Effective Interest Rate of a Loan
The interest rate on a loan cannot exceed twice the Central Bank of Armenia’s base interest rate.:
Loan interest is calculated based on the nominal interest rate, while the effective annual interest rate shows the actual cost of the loan if the obligations under the agreement are properly fulfilled on time.
Information on Credit History and Credit Score
Information for Guarantors
- If the borrower fails to fulfill their obligations, the guarantor is obligated to make the payment on their behalf, which may negatively affect the guarantor’s credit history and create a risk of asset loss.
- The guarantor will be provided with examples of the loan agreement, the guarantee agreement, and the repayment schedule.
- Communication will be conducted using the method chosen by the guarantor․
- The guarantor will be notified 7 days in advance of any changes to the terms of the agreement.
- A reminder regarding any outstanding obligation will be sent 1 day in advance.
- In case of a delay in loan repayment, the guarantor will be informed no later than 1 day after the delay occurs.
The Guarantor Has the Right to:
- Request information from the lender at any time regarding the outstanding loan balance.
- Recover from the borrower any amounts paid by the guarantor on the loan, as well as any other losses incurred on behalf of the borrower.
Key requirements for the borrower and the guarantor³ (if applicable)
Status - individual resident of the Republic of Armenia
Minimum age - 18 years
Maximum age - Must not exceed 65 years at the time of loan repayment
Requirements Regarding Credit History and Repayment Capacity - In accordance with the requirements established by the Bank.
³Depending on the type of refinancing chosen by the client (based on proof of salary or income analysis), the loan may also be granted with a guarantor.
Depending on the type of refinancing preferred by the client (based on the fact of salary availability or income analysis), documents may be required within the framework of the loan according to the list of required documents։
When applying for a loan, the lender will provide the borrower, as well as the guarantor(s) (if any), with an individual consumer loan essential terms sheet, which will present the individual terms of the loan to be provided to the borrower.
Other loans
Subject to amendment made to Law on Currency Regulation and Currency Control, the interest amounts accrued on foreign currency loans and deposits, which “AMIO BANK” CJSC has issued or attracted since December 2, 2017, may at your option be repaid in the same currency in which they have been issued or attracted.
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