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Credit cards offer you an opportunity to use money within the limit of revolving credit line opened by the bank, without crediting the card account. The maximum amount of the revolving credit that can be borrowed on card is your credit limit.
You enjoy the advantage of buying goods you prefer “today” and paying for them “tomorrow”. You may also take a full advantage of applicable grace period of up to 51 calendar days.
Minimum credit limit depends on the type of card and is subject to the terms and conditions of cards issuance and use.Credit cards are cards with grace period. Credit cards are intended for non-cash payments and can be used also for acquiring a credit line with grace period. You will be able to buy the goods you prefer today and pay for them within 51 days grace period.
Terms and Conditions of Lines of Credit Issued via Credit Cards (with Grace Period)
Credit Line on MasterCard Standard/VISA Classic Cards
Secured Credit Line on MasterCard Standard/VISA Classic Cards
Credit Line on MasterCard Gold/VISA Gold
Secured Credit Line on MasterCard Gold
Credit Line on MasterCard Platinum/VISA Platinum Cards
Secured Credit Line on MasterCard Platinum/VISA Platinum Cards
Credit Line on VISA Infinite Card
Secured Credit Line on VISA Infinite Card
Debit cards are cards with credit line without grace period (including overdraft cards). Debit cards can be used both for cash and non-cash operations, they have a low encashment rate both for Ameriabank ATMs and ATMs of other banks (including abroad).
Terms and Conditions of Overdraft (without Grace Period) Issued via Debit Cards
Overdraft Arca Classic, Cirrus Maestro/ Visa Electron/AYO Card VISA Classic Cards
Secured Overdraft Arca Classic, Cirrus Maestro Cards
Overdraft MasterCard Standard/VISA Classic Cards
Secured MasterCard Standard/VISA Classic Cards
Overdraft MasterCard Gold/VISA Gold/AYO Card VISA Gold Cards
Secured Overdraft MasterCard Gold/VISA Gold/ AYO Card VISA Gold Cards
Overdraft MasterCard Platinum/VISA Platinum Cards
Secured Overdraft MasterCard Platinum/VISA Platinum Cards
Method and Frequency of Payments
Repayment of lines of credit with a grace period
Card credit lines with a payment schedule
If the line of credit has been issued with a defined repayment schedule, the interest shall be repaid at least once a month, while used amounts may be repaid in 2 ways: either according to a prearranged schedule or upon maturity.
Disbursement: loan is disbursed on a card in non-cash form.
Eligibility criteria: n/a.
No dues are required, except for loans secured by real estate and movable property, in which case the collateral is insured and appraised by a specialized company which charges commissions or interest according to its fees and rates.
Decision on lending
The Bank makes an initial decision within 2 (two) banking days following receipt of the loan application. The final decision is made during no more than 8 (eight) business days after the client submits the complete set of required documents to the bank, and is communicated to the client within one business day. The loan proceeds are disbursed one business day after (i) the security agreements contemplated in the loan agreement are in place, i.e. are registered in form and substance satisfactory to the bank and signed pursuant to the Republic of Armenia legislation, (ii) the pledged assets are insured by the company cooperating with the bank, and (iii) the client has fulfilled all other mandatory requirements.After the Bank has approved the loan application:
What may help you to get your loan approved
Why your application might be rejected
Any overdue liabilities on the credit card shall be charged to the deposit principal without prior notice.
* The deposit principal used for calculation of the ratio does not include the interest accrued at the beginning of the term.
N/a for this loan facility.
Credit Lines in Foreign Currencies
Exchange rate volatilities may affect the installments under the credit lines in foreign currencies.
Interest calculation procedure and example
No interest is accrued to the unused amounts. The interest accrued to the used amounts is calculated at the nominal rate
Credit limit: AMD 5,000,000Amount withdrawn: AMD 1,000,000Annual interest rate: 21%
The monthly installments shall make AMD 117,500 (where the interest makes 1,000,000*21%/12=17,500 AMD + principal of 10%=1,000,000*10%=100,000 AMD).
Attention! In case of the borrower's default on minimum monthly installment the bank charges 5000 AMD.For cards issued after January 2015 this lump sum payment is not applicable, and the late payment fines and penalties defined by the terms of lending for individuals are charged instead.
Attention! There are no limitations on early repayment of the loan. ATTENTION! IN CASE OF FAILURE TO REPAY THE LOAN INTEREST AND/OR PRINCIPAL WHEN DUE, THE INFORMATION ABOUT YOUR OVERDUE LIABILITIES SHALL BE RECORDED IN THE CREDIT REGISTER.
Attention! If the funds received as a result of the sale of pledged property are not enough to collect the borrower's liabilities under the loan and the interest, etc., the bank's claims shall be satisfied through additional charges or seizure of other equivalent assets of the borrower.
Annual percentage rate
Loan Service Fees
Liability of the Client
List of insurance companies, cooperating with Ameriabank
List of appraisal companies, cooperating with Ameriabank
When applying for a loan, make an informed decision
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Tel.: +37410 56 11 11
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Yerevan 0010, RA
Ameriabank © 2019 | Updated 24.06.2019, 12:27