Loans
As the specifications of policies
adopted by ArmSwissBank imply, the Bank refuses retail banking. This
differentiates the Bank from almost all banking and credit institutions
operating in RA.
The bank offers loans typical of this market (car loans,
mortgage loans, consumer loans) exclusively to provide the owners and
management of its corporate clients a complete package of services or
from a private banking perspective to meet the individual requirements
of the Bank’s other clients.
When considering specific loan
applications the lending committee takes into account a number of
objective and subjective factors, which can lead to the denial of the
loan application regardless of the client’s creditworthiness or assets
that back up the loan. The said factors include the
following:
Objective factors
Income of the client or related organizations, cashflows of their bank accounts, average balance and frequency of transactions, credit history, etc.
Subjective factors
Client’s or related organization’s business acceptability and conformity with the Bank’s policies, client information accessibility, cooperation perspectives, etc.
Possible
Negative Consequences and Other Material
Information
Dear Customer,
In order to avoid any possible negative consequences that might result related to the utilization of lending services, we encourage you to carefully study the information presented below and contact the Bank’s specialists in case of further questions.
In case of unduly execution of loan responsibilities (arrears, unpurposeful usage of the loan, information falsification in order to receive the loan, creating obstacles for loan monitoring/control, etc.) besides financial liability measures that the bank can exercise the following actions can also be employed according to current legislation:
• Voiding the contract before
maturity and demanding the calculated interest.
• Mortgage foreclosure
and in case the realization of the pledged property does not
generate enough cash flows, it is possible that legal procedures will
be imposed upon the debtors to foreclose other property they
own (if applicable).
• Processing information
about the debtor into credit register, which will have
negative impact on your credit history and obstruct further utilization
of credit services (including in other banks and credit
organizations).
List of required documentation
Interest calculation sample
Calculation of actual annual interest
The list of specialized appraisal organizationa cooperating with the Bank