en 
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Special Offers 
Gold-sand beaches or snow-white peaks, let’s
make your dream vacation real!
- Loan amount: minimum of AMD 400,000 with a maximum financing amount of AMD 2,000,000.
- No loan arrangement and servicing fees are applicable.
- Loan tenor: from 1 to 3 years
- Travel Insurance* : free of charge
Interest rate:
fixed 16% p.a., in case of salary transfer 14.5% p.a.
Annual percentage rate: 15.41-17.4%
* Тhe travel (assistance) insurance terms can be found here.
Insurance coverage limits can be found here.
Should the customer require the medical assistance service, please call + 7(775)1112828 / +7(701)7635253 (Crossborder Health Partners, 24-hour multilingual assistance) or +374(12)888888 (LIGA Insurance ICJSC).
The nominal interest rate of this loan can be changed by the Bank.
Loan interests are accrued according to the nominal interest rate, while the Annual Percentage Rate (APR) shows how much the loan will cost you in case you make all payments in due time.
Depending on the Bank's risk assessment results, the loan application might be approved at a higher interest rate.
- The borrower should be a resident of the Republic of Armenia, aged between 21 and 63 throughout the validity of the loan contract.
- The borrower should be a middle to upper-income salaried individual or self-employed such as small/medium merchants and entrepreneurs.
- The Borrower should have a working experience of at least 3 months with the current employer and a total of 1 year of experience in the same business field. In case the borrower is a freelancer, proven work experience should be at least 2 years (contracts and statements should act as proof).
- The borrower should have a minimum monthly net income of AMD 200,000 in case the borrower is single and AMD 300,000 in case the borrower is married.
- The ratio of the loan repayment plus all other regular debt repayments to the available income shall not exceed 50-70%.
- The borrower should purchase a mortgage insurance policy (if applicable) from the suggested list of insurers.
- The sum insured (if applicable) should be equal to the loan amount.
- The borrower should have a good credit history.
- Only a spouse, parents, sibling and a child may become a co-borrower.
To guarantors (upon such a requirement)
If the Borrower defaults on their loan, the Guarantor is liable for the outstanding obligation, which could damage the latter’s credit history and expose them to the risk of losing the property.
The Guarantor will be provided with a copy of the loan and guaranty agreement and the repayment schedule.
Communication is carried out in a manner convenient for the Guarantor.
The Bank is obliged to notify the Guarantor about the change in the terms of the contract seven days in advance.
The Bank is obliged to remind the Guarantor about the existing obligation one day in advance and inform them about the delay in repayment of the loan no later than one day later.
The Guarantor may request information about the amount of the loan balance from the Bank at any time.
The Guarantor may get back from the Borrower the money they paid for the loan, as well as other losses incurred on behalf of the Borrower.
- In case of payment delay of the loan or part of it, as well as accrued interests, the loan interest rate defined by the loan agreement shall not be applied on the overdue loan amount and the Bank will apply a 24% annual interest rate to the amount owed by the Customer for each due day. No other fees are charged for overdue amounts.
- The borrower is entitled to repay the loan or part of it prematurely. In case of partial early repayment of the loan, the borrower may decrease the Loan tenor, leaving the monthly installments the same, or decrease the amount of monthly installments at her/his choice.
- In case of a total reimbursement of personal loans with amounts greater than AMD
15,000,000, the Bank will charge a fee of:
- 1% of prematurely repaid loan principal within 24 months starting from the date of signing the agreement
- 0.5% of prematurely repaid loan principal after the 24th month from the date of signing the agreement
No partial reimbursement fee (regardless of the amount), as well as total reimbursement fee for loans below AMD 15,000,000 will be applied for personal loans. - In case of early repayment of the loan by the borrower only an arrangement fee will be deducted from the total cost of credit. No other costs are subject to deduction.
I = Interest amount
R = Current interest rate
L = Outstanding loan amount
N = Number of days between two payments
- Example:
R=15%
L=AMD 1,000,000
N=30 days
I=1,000,000*15%/365*30=12,329
- The loan is only processed at Byblos Bank Armenia branches.
- The loan is disbursed by a non-cash transfer to the clients’ bank account.
- The loan disbursement is executed within a maximum period of 3 working days from the date of signing the loan contracts by the client at the branch if mandatory documents are provided.
- The repayment of the loan shall be done in equal monthly installments whereas the interest accrued at the date of repayment shall be repaid first then the principal. In case there are penalties, those will be paid first.
- The main factors affecting the decision to approve or reject a loan are as follows:
a - credit history
b - valid justification for the loan purpose
c - accuracy of the information, provided by the borrower
d - solvency of the client (financial position)
e - creditworthiness of the client (personal qualities, absence of any legal impediment)
f - the type of security.
Credit history
- Credit history is information about a borrower's obligations, showing their debts, payments, payment habits and/or data about their obligations and/or fulfillment of said obligations.
- Credit information providers are ACRA member organizations (banks, credit organizations, insurance companies, organizations carrying out deferred payment transactions, as well as state bodies that provide information about individuals from public databases to the credit bureau in accordance with the procedure established by the Government of the Republic of Armenia), which provide information (data)about the borrower.
- If there are incorrect or incomplete data in the borrower's credit history, then for the purpose of clarification and correction, the borrower, in accordance with the provisions of Article 20 of the Law "On Circulation of Credit Information and Activities of Credit Bureaus" of the Republic of Armenia, may inform the credit bureau or directly contact the credit information providers (listed above).To do so, the burrower may submit a written application to the credit bureau or apply online from the "My ACRA" portal. The process of accepting/receiving, discussing and responding to customer complaints regarding credit reports provided by ACRA, as well as actions that may follow are defined by the Dispute Resolution Procedure of ACRA Credit Reporting CJSC.
- When making a decision on loan approval, the Customer’s credit history information must be no older than 15 days.
- The credit history considered in the score calculation covers the past 5 years from the application date.
- Under the Bank's internal regulations, the credit history retention period is not limited.
- The study and analysis of credit history by the Bank is carried out in accordance with the minimum terms and conditions defined by the internal legal acts of the Bank.
- A bad credit history can serve as a basis for tightening the terms of new loans (as well as other banking services) or their non-provision at all.
More information about credit history can be found on www.abcfinance.am and www.acra.am․
Credit Score
To evaluate a customer’s creditworthiness, Byblos Bank Armenia employs its own credit score, which also incorporates the FICO score. (FICO score is a scoring system which provides a numerical assessment of the Customer’s credit risks. The score is based on the statistical study and analysis of the Customer’s credit history.)
Byblos Bank Armenia's credit score reflects both the Customer’s behavioral and socio-demographic assessments (work experience, income-expenditure ratio, age, educational level, etc.).
The score is important because it enables an automatic decision on whether to approve or deny a certain type of loan.
Byblos Bank Armenia’s credit score is influenced by the FICO score, the Customer’s age, income, employment status and other factors. Factors such as a stable employment history, a long credit history, and timely loan repayments contribute positively to a higher credit score. Conversely, factors like negative credit history entries (such as overdue payments), credit obligations exceeding original balances, or a high number of credit inquiries may reduce your score.
More information about credit score can be found on www.abcfinance.am and www.acra.am․
Steps to improve your credit history
Given that the credit score incorporates the FICO score, which reflects the customer's credit history, enhancing the FICO score (credit history) is essential for improving the overall score.
The main priority for boosting your FICO score is to improve your credit history.
This involves, first of all, clearing all overdue payments if there are any. In addition, it is necessary to ensure that there are no overdue liabilities, even if just for one day, on current loans. Early repayment of current loans will also help improve credit history and creditworthiness. Unnecessary new loan requests should be avoided.
Note:Byblos Bank Armenia will provide a decision on the loan application within 7 working days.
In point of breach of loan obligations by the Borrower, the Bank
shall be entitled to receive a reimbursement at the expense of the
mortgaged property, as wells as other property of the Borrower, if funds
from the mortgaged property are not sufficient. The Bank shall be
entitled to foreclose the mortgaged property via in and out of court
proceedings and direct the funds from the foreclosure to the repayment
of the debt and consequently, the owner of the property may be deprived
of her/his property. In case of payment delay, the Bank will update the
Borrower’s profile in the Central Bank of Armenia Credit Register and
Credit Bureaus, which can lead to a negative impact on the Borrower’s
credit history and cause difficulties in the loan obtaining process in
the future.
According to the law of the RA “On Combating Money Laundering and Terrorism Financing”, the Bank, for proper
investigation of the client's profiles, can obtain additional documents or other
information based on the Know Your Customer principle, as well as ask
additional questions to the client during verbal communication (if need be).
According to an agreement with the United States of
America regarding the Foreign Account Tax Compliance Act (FATCA), the
Bank may request or gather additional information in order to identify the Borrower’s status as a U.S. taxpayer.
Information about loans are also available on the website of Your Financial Informant (www.fininfo.am), which is an electronic platform that helps compare services offered to individuals and facilitates the selection of the most efficient option for you.
After the loan contract is signed, you may communicate with the Bank at your choice by post or e-mail. The most convenient way for receiving information is through e-mail. It is available 24/7, the risk of data loss is eliminated and secrecy id ensured.
You can receive the statement of the loan in your chosen way. Statements and certificate of loan account are provided as per bellow tariffs:
| Title | ֏ |
|---|---|
|
Provision of statement monthly
|
Free of charge
|
|
Provision of statement duplicate up to 6 months*
|
3,000
|
|
Provision of statement duplicate over 6 months*
|
6,000
|
|
Certificate of balance related to loans*
|
3,000
|
|
|
|
|
* VAT included
|
|
