General information

When considering loan applications, the lending committee takes into account a range of objective and subjective factors, which can lead to the denial of the loan application regardless of the client's creditworthiness or assets. These factors include:

Objective factors : income, cashflow, average balance, frequency of transactions, credit history.

Subjective factors : conformity and compliance with ArmSwissBank's policies, accessibility of client information and likelihood of future co-operation.

Loans are generally approved according to benchmark criteria but for each individual loan application the credit committee, taking into account the above factors, can disregard those criteria (either for the benefit of or against the client) or set additional conditions and requirements.

Possible negative consequences and other material information

In order to avoid any negative consequences that could result from our lending services, we strongly encourage you to study the information below and contact our specialists if you have any further questions.Interest on foreign currency loans is returned in AMD while the principle amount is paid in the respective currency, therefore exchange rate fluctuations can adversely affect loan payments.

To get a loan, to study loan offers and, in some cases, when applying to different financial institutions to assess a possible credit limit, take into consideration, that the loan applications may have a negative impact on your credit rating, so we recommend you to be as careful as possible and apply for loans only if necessary, and for avoiding issues to pay attention to the agreements given for the requests in ACRA Credit Reporting, “NORK” Social Services Technological Awareness Center, as well as the provision of Public Databases.

If the client fails to meet their loan responsibilities - e.g. if their payments are in arrears, if they used the loan for purposes other than those stipulated, if they provided false information in the loan application process or if they obstruct loan monitoring procedures - the bank can take the following actions in addition to financial liability measures:

  • Voiding the contract before maturity and demanding the calculated interest.
  • Foreclosing the mortgage and, if the pledged property does not generate enough revenue, legal procedures may be initiated against the debtors to foreclose other property they own (if applicable).
  • Passing information about the debtor to the credit register, which will have negative impact on their credit history and obstruct further access to credit services (including from other banks and credit organizations).

List of required documentation

Interest calculation sample

List of specialized appraisal organizations co-operating with ArmSwissBank