Provision of Consumer Loans up to 15 Million AMD
| Parameter | Value |
|---|---|
| Loan Purpose | Consumer |
| Borrower Description | Individual, RA resident aged 23–65 |
| Borrower Requirements | Borrower must have a stable income |
| Loan Currency | RA Dram (AMD) |
| Loan Amount | 1,000,000–15,000,000 AMD |
| Loan Term | 12–120 months |
| Annual Nominal Interest Rate | 18%–22% |
| Annual Actual Interest Rate | 20.32%–31.77% |
| Monthly Service Fee (calculated on the actual loan balance) | - up to 10M AMD: 0.04% per month
- starting from 10M AMD: 0.02% per month
|
| Interest Calculation Procedure | Based on the annual nominal interest rate — applied to the remaining loan balance |
| Loan Provision Method | Lump sum or in stages, via non-cash transfer |
| Loan Repayment Method | Monthly equal payments of principal and interest (annuity)* |
| Other Borrower Expenses | Appraisal, re-appraisal of collateral, notary, state registration and setup fees, insurance, and related expenses** |
| Loan Security / Collateral | Real estate or movable property pledge, guarantee, surety, and other methods specified by the RA Civil Code |
| Maximum Loan-to-Value (LTV) Ratio | 70% of the market value of the collateral |
| Penalty for Early Repayment | Not applicable |
| Decision-Making & Client Notification Term | After submitting all documents requested by the Organization, decision-making takes up to 3 working days; the client is notified within 1 day |
| Loan Disbursement Term | Provided within 1 working day after receiving the collateral registration certificate from the relevant state authorities |
| Validity Term of Approved Loan Application | Maximum 15 working days depending on the proposed type of collateral |
| Location of Loan Processing | Head Office of "Gladzor UCO" CJSC, address: Yerevan, Charents St. 1b, N 42 |
| Penalty Calculated on Overdue Loan Principal | Calculation of nominal interest does not cease, and a daily penalty of 0.06% is accrued on the overdue principal amount |
| Penalty Calculated on Overdue Interest | A daily penalty of 0.07% is accrued on the overdue interest amount |
| Factors for a Positive Loan Decision | - Accurate and complete documents
- Positive or neutral credit history
- Source of stable income
- Collateral meeting the organization's acceptable criteria
|
| Factors for Loan Application Rejection | - Client failed to submit required documents
- Inquiry to CB RA Credit Register and/or ACRA Credit Bureau revealed a negative credit history (for client, co-borrowers, guarantors, or co-habiting family members)
- Creditworthiness evaluation showed the client is non-creditworthy
- Offered collateral was deemed unacceptable
- Client provided false information
- Application was approved, but the client did not appear or provide documents within 15 days
- Information arose during processing that casts doubt on solvency
|
| Payment Methods | Cash — at "Gladzor UCO" CJSC cash desk (Yerevan, Charents St. 1b, N 42);
Non-cash:
1. Ardshinbank CJSC accounts: AMD 2474602514470000, USD 2474602514470010;
2. IDBank CJSC accounts: AMD 11817068806300, USD 11817068806301;
3. Artsakhbank CJSC accounts: AMD 22325000913900, USD 22325000913902;
4. Amio Bank CJSC accounts: AMD 11500583623036, USD 11500993230832;
5. Telcell terminals and Telcell Wallet app by selecting "Gladzor UCO" CJSC and entering your loan code from the first page of your agreement.
|
| Additional Services | - Loan agreement extension fee: 20,000 AMD
- Schedule modification fee: 5,000 AMD
- Issuance of reference/consent for changing collateral owner, construction works, or other transactions: 20,000 AMD
- Other service modifications (address change, new registrant, etc.): 5,000 AMD
|
| Statement Provision Terms | "Gladzor UCO" CJSC provides written statements via e-mail free of charge on the 16th of each month in accordance with CB RA Regulation 8/05. Additional statements and duplicates are provided free upon consumer request. |
LOANS WITH CONDITIONS DIFFERING FROM INFORMATION BULLETINS ARE PROVIDED BY THE DECISION OF THE COMPANY'S BOARD.
ATTENTION
- PLEASE BE INFORMED THAT THIS TYPE OF LOAN HAS A HIGH ANNUAL ACTUAL INTEREST RATE. THEREFORE, PLEASE STUDY OTHER SIMILAR MARKET SERVICES IN ADVANCE AND EVALUATE YOUR REPAYMENT CAPABILITIES.
- INTEREST ON THE LOAN IS CALCULATED BASED ON THE NOMINAL INTEREST RATE, WHILE THE ANNUAL ACTUAL INTEREST RATE SHOWS HOW MUCH THE LOAN WILL COST YOU IF INTEREST AND OTHER PAYMENTS ARE MADE ON TIME AND IN SPECIFIED AMOUNTS.
- "YOUR FINANCIAL INFORMANT" IS AN ELECTRONIC SYSTEM THAT FACILITATES SEARCHING, COMPARING, AND CHOOSING THE MOST EFFICIENT OPTION FOR SERVICES OFFERED TO INDIVIDUALS: www.fininfo.am.
- YOUR PROPERTY MAY BE CONFISCATED (FORECLOSED UPON) IF YOU DO NOT REPAY INTEREST AND LOAN AMOUNTS ON TIME. IN CASE OF OVERDUE PAYMENTS, INFORMATION ABOUT YOU WILL BE REGISTERED IN THE CREDIT REGISTER.
- IF PROCEEDS FROM REALIZING THE COLLATERAL DO NOT COVER THE DEBT, THE REMAINING AMOUNT MAY BE RECOVERED FROM OTHER PROPERTY OF THE BORROWER.
- IN CASE OF NON-FULFILLMENT OR IMPROPER FULFILLMENT OF OBLIGATIONS, THE LENDER SENDS DATA TO THE CREDIT BUREAU WITHIN 3 WORKING DAYS, FORMING YOUR CREDIT HISTORY. YOU CAN OBTAIN YOUR CREDIT HISTORY FREE ONCE A YEAR. A BAD CREDIT HISTORY MAY HINDER FUTURE LOAN APPLICATIONS.
- YOU HAVE THE RIGHT TO COMMUNICATE WITH THE FINANCIAL ORGANIZATION VIA YOUR PREFERRED METHOD (POST OR E-MAIL). E-MAIL IS RECOMMENDED AS IT IS AVAILABLE 24/7, PREVENTS LOSS OF PAPER DOCUMENTS, AND ENSURES CONFIDENTIALITY.
- UNDER THE RA LAW ON "COMBATING MONEY LAUNDERING AND TERRORIST FINANCING", THE ORGANISATION MAY REQUEST ADDITIONAL DOCUMENTS OR INFORMATION BASED ON THE "KNOW YOUR CUSTOMER" (KYC) PRINCIPLE AND ASK ADDITIONAL QUESTIONS DURING VERBAL COMMUNICATION.
- YOU HAVE THE RIGHT (UP TO 15M AMD) TO UNILATERALLY TERMINATE THE LOAN AGREEMENT WITHOUT REASON WITHIN 7 WORKING DAYS FOLLOWING SIGNING (COOLING-OFF PERIOD). CONSUMER MUST PAY INTEREST ACCRUED ACCORDING TO THE ANNUAL ACTUAL INTEREST RATE. NO OTHER COMPENSATION MAY BE DEMANDED.
- WHEN APPLYING FOR A LOAN UP TO 15M AMD, YOU WILL BE PROVIDED WITH AN INDIVIDUAL LEAFLET OF ESSENTIAL TERMS DETAILING YOUR SPECIFIC CONDITIONS.
- REAL ESTATE MORTGAGE AGREEMENTS ARE SUBJECT TO MANDATORY NOTARIZATION.
- THE CONSUMER LOAN CAN BE REPAID EARLY AT ANY TIME WITHOUT FINES OR PENALTIES.
BEFORE SIGNING, THE LENDER MUST INFORM THE GUARANTOR THAT IF THE BORROWER FAILS TO PAY, THE GUARANTOR WILL BE OBLIGATED TO PAY, THEIR CREDIT HISTORY WILL DETERIORATE, AND THEY MAY LOSE THEIR PROPERTY.
* Under the annuity repayment method, equal monthly installments comprising principal and interest are calculated. Initially, interest makes up a larger portion, which gradually decreases as the principal portion increases over time, keeping monthly totals constant.
Expenses related to valuation and collateral pledge are borne by the borrower (pledgor). The company may also require property insurance at the borrower's expense. Estimated cost ranges for valuation, notarization, state registration, and insurance:
| Service Name | Service Price Range |
|---|---|
| 1. Real Estate Valuation | minimum 15,000 AMD |
| 2. Unified Real Estate Information Sheet | starting from 10,000 AMD |
| 3. Real Estate Pledge Notarization | 15,000–40,000 AMD |
| 4. State Registration of Real Estate Mortgage | up to 45,000 AMD |
| 5. Notarial Statements/Consents | married: spouse consent — 8,000 AMD;
unmarried: single status statement — 1,500 AMD
|
| 6. Movable Property Valuation | 3,000–10,000 AMD |
| 7. Movable Property Pledge Notarization | maximum 15,000 AMD |
| 8. Movable Property Insurance | 2.5% of market value |
| 9. State Registration of Movable Property | up to 5,000 AMD |
Valuation agencies cooperating with "Gladzor UCO" CJSC:
- "Oliver Group" LLC: Yerevan, Tumanyan St. 8, tel. (010) 54-07-40, (091) 54-27-50, (094) 54-27-60, info@olivergroup.am
- "Uptime" LLC: Yerevan, Nairi Zaryan St. 73/1, "Makconi" Business Center, 1st floor, tel. (060) 53-53-71, (098) 53-53-14, info@uptimellc.org
- "Cost Consult" LLC: Yerevan, Kentron, Hanrapetutyan St. 67, Republic Business Center, 2nd floor, tel. (010) 54-48-82, info@cost.am
- "Gardi" LLC: Yerevan, Baghramyan Ave. 7, apt. 4, tel. (091) 22-01-63, gardiltd@gmail.com
"ArmEx" LLC: Yerevan, Nar-Dos St. 69-3, tel. (091) 40-23-40, (098) 40-23-40, armexarmenia@mail.ru
INFORMATION ON LOAN DECISION-MAKING
Application is APPROVED if:
- Accurate and complete documents are submitted,
- Positive or neutral credit history,
- Stable income source,
- Collateral meets acceptable organization criteria.
Application is REJECTED if:
- Required documents are not submitted,
- ACRA / CB RA query reveals negative credit history,
- Solvency assessment shows borrower is non-creditworthy,
- Proposed collateral is unacceptable,
- False information provided,
- Failure to appear or submit documents within 15 days of approval,
Circumstances arise casting doubt on solvency.
IMPACT OF CREDIT HISTORY AND SCORING ON DECISION-MAKING AND CONDITIONS
Credit history and credit scoring significantly influence decision-making and key loan terms (amount, rate, term, collateral requirements, etc.).
Credit history is the record of all active and fulfilled credit obligations and repayment discipline.
Credit scoring is a numerical assessment of creditworthiness calculated by ACRA or the financial institution based on history, income, age, active liabilities, and other factors.
- Positive credit history and high scoring increase approval probability and improve loan terms (lower rate, higher limit, flexible collateral requirements).
Negative history or low scoring increases rejection risk or results in stricter terms.
FACTORS INFLUENCING CREDIT SCORING
| FACTOR | DESCRIPTION / IMPACT |
|---|---|
| Repayment Schedule & Discipline | Payment delays lower score. Regular timely payments improve score. |
| Credit History Duration | Long-standing positive credit history improves score. |
| Debt Burden (Active Loans) | High active loan balance lowers score. |
| Frequency of New Credit Applications | Frequent new loan inquiries lower score. |
| Work Experience | Longer work experience improves score. |
| Income Level | High, stable income improves score. |
Details: www.abcfinance.am, www.acra.am
IMPACT OF CREDIT INQUIRIES ON SCORING SCORE
Depending on the type of credit inquiry, it may affect ACRA scores (ACRA score and FICO score) as well as internal scoring used by financial institutions:
| INQUIRY PURPOSE | SUB-PURPOSE | IMPACT ON SCORING |
|---|---|---|
| New Loan Application | Decreases | |
| Guarantor | New Loan Application | Decreases |
| Related Person | No impact | |
| Active Loan Monitoring | No impact | |
| Guarantor | - Active Loan
- Active Guarantor Monitoring
| No impact |
Whenever a credit inquiry affecting scoring (FICO, ACRA, or internal scoring) is conducted, "Gladzor UCO" CJSC notifies the consumer within maximum 2 working days, stating the inquiry date, purpose, type, and relevant credit scoring links.
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