HSBC Armenia - Homepage
Great new mortgage deal from HSBC Armenia
HSBC now offers mortgages starting at 11% for AMD and 9% for USD loans if you purchase your house from specified buildings of Elite Group cjsc.
Tariffs and Terms
Loan currency
Loan is provided in AMD and USD
Loan amount1
| For loans provided in AMD | For loans provided in USD |
| Minimum AMD 1.5 mln | Maximum AMD 100 mln |
| Minimum USD 3,000 | Maximum USD 150,000 |
Loan term
| For loans provided in AMD | For loans provided in USD |
| Minimum 1 year | Minimum 1 year |
| Maximum 10 years | Maximum 15 years |
Note
Customer's minimum age is 21. Customer's age plus the loan term should not exceed 65 years.
Loan interest rate2
- Floating nominal interest rate
| For loans provided in AMD | For loans provided in USD |
| Floating nominal interest rate is calculated at HSBC Bank Armenia AMD Base Rate plus fixed Interest Rate Margin of 0.5% p.a and is currently equal to: 10.5% + 0.5% = 11% |
Floating nominal interest rate is calculated at HSBC Bank Armenia USD Base Rate plus fixed Interest Rate Margin of 0.25% p.a and is currently equal to: 8.75% + 0.25% = 9% |
| Important Note Floating nominal interest rate is based on Bank Base Rate and is subject to change. |
|
- Mixed nominal interest rate
Mixed interest rate can also be applied where elements of fixed and floating rates are used for particular loan. Maximum tenor for fixed part of the interest rate is 5 years.
Security
First lien pledge over the residential property loan is applied for cases when the property Ownership Certificate exists. Corporate Guarantee issued by Elite Group cjsc is applied for properties under construction. Guarantee is subject to release once the property's Ownership Certificate is issued and property is pledged to the Bank
Default interest rate and penalties
- In case of overdue/default on loan principal and/or interest the Bank will apply default interest rate - 15% plus the loan nominal interest rate per annum, on the overdue amount. For loans secured by Corporate guarantee penalty interest rate will be 18% p.a. on defaulted sum.
- For each loan principal repayment made out of the repayment schedule during the first half of the loan term, the Bank will apply a penalty fee calculated as follows: 0.1% of the overpaid amount multiplied by the number of months remaining till the end of loan term, but not less than AMD 5,000 and not more than 4 times of the standard monthly interest to be paid at the point of amount overpaid
List of Elite Group cjsc buildings for which the offer is valid
- 74 Zaryan street, Yerevan (Northern Ray Project)
- 41 Mamikonyants street, Yerevan
- 59 Baghramyan stret, Yerevan
- Tsakhkadzor Project, Tsakhadzor
Important note
All other tariffs and terms of the loan are regulated by the terms and conditions of the standard mortgage loans.
1 The loan amount cannot exceed 70% of the property contractual value and is limited by the amount of customer's outstanding debt to Elite Group cjsc
2 Depending on risk assessment results, loan application may be approved at a higher interest rate.
