Overdraft Required Documents

• Valid passport, residency card or Identification card (ID)
• 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
• If the applicant presents account history from other Bank 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)
• Other documents that may be required during loan application process.
  
  

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 date¹.
• 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.