Minimum requirements to qualify for a personal assistance loan

Salaried account holders

You are eligible to apply for a car loan if you meet the below minimum criteria

• You are an Armenian National and Resident;

and

• Have an account with HSBC Bank Armenia cjsc (hereafter the Bank) and at least 3 months employment with a company maintaining satisfactory banking relationship with the Bank, and your net monthly salary is at least AMD50,000;

or

• Have an account with the Bank and at least 6 months employment with a company maintaining accounts with other banks in RA and at least 3 months record of salary being transferred to your account with the Bank, and your net monthly salary is at least AMD50,000;

or

• Have an account with any local bank with at least 12 months employment history and salary being transferred to your account for 12 months, and your net monthly salary is at least AMD200,000.

Note

• Customer’s overall monthly income should not be less than AMD100,000

Non-salaried account holders

You are eligible to apply for a personal assistance loan if you meet the below minimum criteria

• You are an Armenian National;

and

• Have satisfactory account record and banking relationship with the Bank for a period of 6 months and more, and average aggregate monthly balances of your accounts during the last 6 months has been at least AMD100,000 (or equivalent in foreign currency);

or

• Have satisfactory account record and banking relationship with other local banks for a period of 12 months and more, and average aggregate monthly balances of your accounts during the last 12 months has been at least AMD300,000 (or equivalent in foreign currency).

Loan currency

• Loan is provided in AMD

Loan size

Salaried account holders

• Bank account holders - up to 4 times* of net monthly salary
• Other banks’ account holders - up to 2 times of net monthly salary

* Loan amount limit from 2 times to 4 times is subject for approval based on satisfactory record and credit worthiness of both employee and employer.

Non-salaried account holders

• Bank account holders - up to 2 times of average aggregate monthly balances of your accounts during the last 6 months
• Other banks’ account holders - up to one time of the average aggregate monthly balances of your accounts during the last 12 months

Notes:

• Loan amount may vary from AMD150,000 up to AMD1,500,000
• The loan amount will be decreased by the existing credit card limit
• The ratio of overall loan payments to net monthly income can not exceed 60% if net monthly income is less than AMD700,000 and 70%, if net monthly income is greater than or equal to AMD700,000

Loan Term¹

• From 6 up to 24 months

Loan interest rate (fixed)

• Nominal interest rate 24%² p.a.

Loan account service fee

The following one-off account service fee will be charged to the customer’s account

• AMD10,000 if the loan amount is less than or equal to AMD500,000
• AMD20,000 if the loan value is more than AMD500,000

Account service fee is charged on the loan drawdown day

Loan repayment

The following repayment options are available for the borrowers:

• Principle is repaid in equal monthly installments, while interest amount decreases with the repayment of a principal. Therefore, total monthly repayments will decrease over the loan tenor.
• Repayments are calculated on annuity basis, where both principle and interest monthly repayment amounts change over the loan tenor, while the total monthly repayment amount remains constant. Monthly payments are being maid every month on the loan drawdown day.

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

¹ Customer’s minimum age is 21. Customer’s age plus the loan term should not exceed 65 years.
² Depending on risk assessment results, loan application may be approved at a higher interest rate.