“Anelik Bank” CJSC gives loans to natural persons for both primary and secondary market car purchase

Primary market

• Maximum maturity – 60 months,
• Account service fee – 03.05%,
• Annual interest rate – from 15%,
• Prepayment is charged as stated by collaboration agreement (since 7%).

Secondary market

RF, Chinese and Iranian production

• Maximum maturity – 36 months,
• Account service fee – 03.05%,
• Annual interest rate – from 18%,
• Prepayment – 50% at least
• Period of production – up to 5 years.

Production of other countries

• Maximum maturity – 60 months,
• Account service fee – 03.05%,
• Annual interest rate – from 18%,
• Prepayment – 30% at least

The borrower may take car loan to purchase cars of more than 10 years old. However, at the maturity of the loan he age of the car should not exceed 15 years.

Loans may be given provided that the purchased car is insured (1.7-2% per annum). Moreover, insurance is based on the amount of the loan given against the car.

The purchased car is taken as collateral. Loans are extended upon availability of guarantee of he third person.

Sample of calculation of annual actual interest rate of car purchase loan:

• Loan amount- 5.000.000 Armenian drams,
• Interest rate- 15% per annum (primary market),
• Term - 60 month,
• Loan opening commission makes 2000 Armenian drams.
• Annuity payment
• Single commission charged at the extending of the loan makes 1% of the amount of the given loan
• Evaluation of the collateral - 12.000 Armenian drams,
• Insurance – 2.5% of the loan amount annually,
• Actual annual interest rate makes 24.28%.

All types of mortgage loans and consumer credit for a service fee of 1% of the amount, with the exception of Credit, the service fee is 0.9%.

Removal or replacement of collateral during the loan gravadrumits fee is charged for the 8000 AMD

In case of credit to borrowers are notified orally and in writing, then, if necessary, the court shall order the confiscation of the loan debt on the spreading of the pledged property, and in the case of the recent failure of the borrower's other assets on the judgment of the Court's failure to voluntarily made compulsory for seizure and sale.

In accordance with the contract requirement of collateral, it is also possible artadataranakan transfer of ownership of property pledged by the bank.

The following documents shall be submitted to receive loan:

Responsibilities in case of default by the borrower if the borrower's collateral account to repay the loan in case of lack of sufficient collateral to cover the liabilities can be repaid at the borrower's other assets.