Required documents
All documents are submitted in person at our branches or electronically within the terms agreed with the Bank.
In case of necessity, additional documents and information may be requested by the Bank.
Overdraft Repayment
Monthly statement is provided reflecting overdraft limit utilisation during current month, accrued interest amount and the Minimum Payment Due amount. Statement date is chosen by the customer.
Minimum Payment Due amount must be repaid on Payment date - 5 days after Statement generation date.
Minimum Payment Due amount comprises 10% of the overdraft utilised amount and accrued interest.
Minimum Payment Due amount is repaid automatically from overdraft linked account, or manually - by making a regular transfer to overdraft account between Statement and Payment dates.
Any credit to overdraft account between Payment and Statement dates will be considered as repayment for Minimum Payment Due amount. In case if the latter is 0, credited amount will be transferred to overdraft account.
Important notes
- Interest is calculated on daily basis on overdraft utilised amount, and is repaid from overdraft account on Statement date4.
- Accrued interest is paid in AMD
- No penalty is charged in case of overdraft early repayment.
- In case of insufficient funds on overdraft linked account the Bank has the right to collect due amount from Customer’s other accounts held in the Bank.
1 One of the following documents relating to Public Services Number: Identification Card, Social Security Card, advice from the authorized body of RA about not having Public Services Number, advice from the authorized body of RA about receiving Public Services Number.
2 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/income tax return, dividend certificate, lease agreement, banks statements, etc.
3 If the applicant is other bank customer: the applicant's bank statements proving salary transfers for the last 3 months (payroll customers), an official advice on source / size of income, advice on account average balance for the last 3 months (for non-payroll customers).
4 Interest amount repayment before Statement date is possible only via branch or Telephone banking service.
In case of discrepancies between Armenian and English versions, the Armenian version shall prevail.
Last updated on: 28.09.23, 07:36