Announcements

ANNOUNCEMENT

Regarding the Recalculation of the Total Cost of Credit

Dear customers,

Please be informed that, in accordance with the RA Law "On Consumer Credit", upon early repayment of a loan, one-time and periodic commission fees set by credit agreements and paid by customers are subject to a proportional reduction and return to customers. Regarding consumer loans disbursed by "Gladzor UCO" CJSC starting from 16.08.2019, for which early repayments were made by customers, a recalculation of the total cost of credit is being carried out. As a result, certain amounts of service commission fees will be refunded. The organization is currently implementing comprehensive measures aimed at properly organizing the aforementioned process, which are scheduled for completion by 31.12.2021, and the launch of refund payments is scheduled to begin on 10.01.2022.

Regarding further details on the organization of this process, the credit organization will publish additional information on its official website.