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Electric Vehicle Loans

A more sustainable way to drive

Looking for ways to reduce your CO2 emissions and save on fuel costs?

With our Electric Vehicle Loan, you can enjoy preferential lending terms to fund the purchase of an innovative modern car which contributes to a cleaner environment.

Benefits

  • Fund an innovative modern vehicle
    Protect the environment and reduce your carbon footprint while enjoying a consistently excellent driving experience.
  • No provision fees
    Apply for Electric Vehicle Loan without paying any loan provision fees.
  • Cashback
    Get 5% return of paid loan interest on your bank account (applicable only for the first 3 calendar years of the loan, max return amount is AMD 100,0001).
  • 10 to 25% prepayment
    Pay 10 to 25% of the amount and get the rest funded by Bank.
  • Extended repayment tenor
    Repay your loan over a period of up to 120 months.

Interest rates

Market Floating annual nominal interest rate Annual percentage rate
Primary 13% 18.43% - 21.75%
Secondary 13% 19.77% - 23.19%

Interest rates

Market Primary
Floating annual nominal interest rate 13%
Annual percentage rate 18.43% - 21.75%
Market Secondary
Floating annual nominal interest rate 13%
Annual percentage rate 19.77% - 23.19%

ATTENTION: LOAN INTEREST RATE CAN BE CHANGED IN CASE OF BANK’S AMD RETAIL BASE RATE CHANGE.

Floating annual nominal interest rate is calculated at HSBC Armenia AMD retail base rate plus constant margin of 4%2 p.a. and is currently equal to:

9% + 4% = 13%

Loan interest is calculated on a daily basis for 365 days and for 366 days in case of leap year on the loan outstanding balance.

LOAN INTEREST AMOUNT IS BEING CALCULATED BASED ON THE ANNUAL NOMINAL INTEREST RATE, WHEREAS THE ANNUAL PERCENTAGE RATE OR APR INDICATES HOW MUCH WOULD LOAN COST TO BORROWER IN CASE OF REPAYMENT OF INTEREST AMOUNT AND OTHER PAYMENTS UNDER THE DEFINED TIMELINE AND TERMS.

Product overview

Borrowing

Repayments

Additional information

1 Customers with no overdue obligations at the date of refund will be eligible for return. Return of 5 % of paid interest will be effected in January of each calendar year.

2 Depending on risk assessment results, loan application may be approved at a higher interest rate.

3Persons with minimum 1 year of residence in Armenia proven by respective documents are considered as Armenian residents.

4The requirements on salary transfer to your account with us will be communicated to you during the loan approving process.

5Customer's minimum age is 18. Customer's age plus the loan term should not exceed 65 years.

Things you should know

Apply by phone

Apply in branch

Alternatively, you can visit one of our branches, where our staff will be glad to give you further information and process your application.

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Last updated on: 23.11.22, 16:00

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