Improve your existing loan conditions
Do you want to reduce your monthly loan burden? HSBC Bank offers you this opportunity. You will get a chance to enjoy our exceptionally low interest rates by applying for our refinancing loans. We offer mortgage loans in AMD starting from 11.5% annual nominal interest rate and in USD starting from 9% annual nominal interest rate.
In case of refinancing properties with Energy Performance rating of B or above the terms for Energy Efficient Mortgages in AMD and USD apply.
11.5% for PLUS and STATUS customers, 12.5% is Bank’s standard offer.
Annual percentage rate starting from 12.37% maximum up to 16․66%.
9% for PLUS and STATUS customers, 10% is Bank’s standard offer.
Annual percentage rate starting from 9.64% maximum up to 14.23%.
For the calculation of APR the foreign exchange current sale rate set by the Bank shall be applied. APR may vary based on the change of the exchange rate set by the Bank.
Get acquainted with mortgage loans provided by us by visiting the respective section where the proposed interest rates, terms and conditions are presented in details.
Main terms and conditions of Refinancing Loan
- You can extend your existing loan term in accordance with the current terms of the Bank's property purchase and renovation loans.
- The loan currency can be changed in accordance with the Bank’s lending terms to insure yourself against currency fluctuations.
- The loan is provided
Without loan provision one-off fee
Without monthly or annual service fees
Without mandatory requirement of a guarantor.
- Repayment method selection with equal repayment of loan principal amount or monthly equal repayments (annuity).
- The loan is provided in case of satisfying the conditions set by the Bank.
Please get acquainted with the Terms of refinancing loans before applying.
LOAN INTEREST RATE CAN BE CHANGED IN CASE OF BANK’S RETAIL BASE RATE CHANGE.
*Attention: The Customer orders the Bank to transfer the loan full amount to his/her account in another financial institution, based on a written notice/extract/ from the respective financial institution about the total sum of debt, in which the stated total sum of the debt may not exceed the amount stipulated in the loan agreement with the Bank. In case, the amount of Customer’s financial obligation to the other financial organization /including accrued interests, penalties, fines and other payments /exceeds the loan amount stipulated in the loan agreement with the Bank, the Customer should cover the exceeding amount from his/her personal proceeds/funds, by transferring the sum to the respective account opened in the Bank- in order to fully execute his/her financial obligations towards the other financial organization.
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.
The following repayment options are available for the borrowers:
- Principal is repaid in equal monthly installments, while interest amount decreases with the payment of a principal. Therefore, monthly repayments will decrease over the loan tenor.
- Repayments are calculated on annuity basis, where both principal and interest monthly repayment amounts change over the loan tenor, while the total monthly repayment amount remains constant.
Note: Fluctuation of foreign currency exchange rate may impact the loan repayment amount (for USD Loans). Interest for the loans with foreign currency can be paid either with the currency of the loan or in Armenian Drams as per customer’s preference and based on the provided respective instruction.
Your property may be repossessed in case you do not properly meet your loan obligations.
If the borrower does not pay the interest and loan principal amounts in time, information about credit history will be submitted to the Central Bank of Armenia and “ACRA Credit Reporting” CJSC within 3 business days of credit facility overdue, resulting in negative impact on borrower’s credit history, should the borrower decide to apply for another loan in the future. In case of existence the reporting is applicable for guarantors and co-borrowers as well.
Interest amount calculation
Interest amount will be calculated on a daily basis by using the following formula:
I = R*L/365, where
I = one day interest amount
R = current interest rate
L = outstanding amount of loan
Things you should know
Financial directory (website in Armenian)
Your Financial Directory is an electronic search and comparison tool for services offered to individuals to ease the process of making the most effective choice for you.
In case loan monthly repayments are not processed in line with the loan schedule and loan agreement and in case you do not properly meet your loan obligations, your property may be repossessed and you may be deprived of your rights over it.
Apply by phone
Call our contact centre on +374 60 655 000 or fill a callback request from below.
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.
Last updated on: 13.01.23, 05:10