Residential property purchase loan in AMD

 

Residential property purchase loan in AMD

Calculator

The Answer given by the Mortgage Calculator does not constitute a promise or entail an obligation for the Bank to extend the loan


Loan Amount:

From AMD 1.5 million up to AMD 200 million.

From USD 3,000 up to USD 400,000.


Loan Amount:

From AMD 1.5 million up to AMD 200 million.

From USD 3,000 up to USD 400,000.

Loan Term:

12 - 180 months

12 - 240/300 months


Loan Term:

12 - 180 months

12 - 240/300 months

14%


22,678


Are you eligible for a Mortgage Loan? Check eligibility criteria here

Are you eligible for a Mortgage Loan?
Check eligibility criteria here

Note: Depending on risk assessment results, loan application may be approved at a higher interest rate.
Information regarding Annual Percentage Rate can be found here.

* Floating nominal annual interest rate calculated at the HSBC Bank Armenia AMD base rate plus fixed Interest Rate Margin of 3.5% p.a. and is currently equal to: 10.5% + 3.5% = 14%.
** Monthly payment will be calculated with annuity repayment option.

* Floating nominal annual interest rate calculated at the HSBC Bank Armenia USD base rate plus fixed Interest Rate Margin of 0.25% p.a. and is currently equal to: 9.75% + 0.25% = 10%.
** Monthly payment will be calculated with annuity repayment option.

Your property may be repossessed in case you do not properly meet your loan obligations.

Your property may be repossessed in case you do not properly meet your loan obligations.

Note: In case of discrepancies between the Armenian and English versions of this page, the Armenian version shall prevail.

Last updated on: 01/02/2017 15:00

Note: In case of discrepancies between the Armenian and English versions of this page, the Armenian version shall prevail.

Last updated on: 01/02/2017 15:00

 

Required documents

  • Valid passport, residency card or Identification card (ID card)
  • For the Bank payroll customers: a letter from the employer undertaking to process the applicant's remuneration through HSBC Bank Armenia CJSC (in the form acceptable by the Bank).
  • For the Bank non-payroll customers: any official evidence and/or documentation on source/size of income, e.g. profit tax return, dividend certificate, lease agreement, banks statements, etc.
  • If the applicant is other bank customer: the applicant's bank statements proving salary transfers for the last 6 months (for payroll customers), an official advice on source / size of income, advice on account average balance for the last 6 months (for non-payroll customers).
  • Ownership Certificate (the original certificate registered in the name of the buyer is kept in the Bank until full repayment of the loan).
  • Valuation report of the car securing the loan. Evaluation is to be conducted by independent valuators authorized by the Bank.
  • Letter provided by respective registration examination subdivision of Road Police Services of RoA Police concerning the limitations applied on the car, car registration certificate copy, buyer's, seller's and co-owners' passport or other ID copies.
  • For new cars purchased from official dealers, Sell and Purchase agreement, relevant invoice and customs clearance.
  • Other documents that may be required during loan application process.
 
 

Loan repayment

The following repayment options are available for the borrowers:

  • Principal is repaid in equal monthly installments, while interest amount decreases with the repayment of principal. Therefore, monthly repayments will decrease over the loan tenor.
  • Repayments are calculated on annuity basis, where both principal and interest monthly repayment amounts change over the loan tenor, while the total monthly repayment amount remains constant.

Note: The accrued interest will be billed monthly and is subject to payment in AMD, along with the monthly principal amount repayment.

 
 

What is the annual nominal interest rate for car loans in AMD?

Floating annual nominal interest rate calculated at the Bank AMD Base Rate plus fixed Interest Rate Margin of 5.5% p.a. and is currently equal to: 10.5% + 5.5% = 16%

 
 

What is the maximum term and loan amount for car loans?

Maximum term for car loan is 60 months; maximum loan amount is AMD 10 mln. Loan amount cannot exceed 60% of the car value

 
 

Are there any loan provision/servicing fees?

There is no monthly or annual fee for receiving the loan. The only applicable fee is:

  • AMD 50 000, in case if the loan amount is less or equal to AMD 5 million
  • AMD 100 000, in case if the loan amount is greater than AMD 5 million paid one-off upon loan provision.
 
 

Is the loan granted for purchasing new or used cars?

Car loan is provided to purchase cars both from primary and secondary markets.

 
 

What is the maximum debt-to-income ratio (DIR)?

The ratio of overall monthly loan payments to net monthly income cannot exceed 60% if net monthly income is less than AMD 700,000 and 70%, if net monthly income is greater than or equal to AMD 700,000