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Special Offers 
Online loan, ready in minutes
- Loans up to 10 million, available 24/7
- Get your loan without visiting the Bank
- Approval and disbursement within minutes
- No disbursement or service fees
- No collateral or guarantor required
- No income documents needed
How to obtain an online loan
The simple steps to get an online loan:
- Log in to the Byblos Mobile app (or register online)
- Go to the Loans section, select “New Loan” and receive your offer
Once your loan is approved, the funds are credited to your account immediately.
- Unsecured online loan amount: minimum – AMD 400,000, maximum – AMD 10,000,000
- Լoan tenor: from 1 to 4 years
- Interest rate:
fixed 14.5% p.a.
Annual percentage rate: 15.41%- 15.63%
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 risk assessment results, the loan application might be approved at a higher interest rate.
- The borrower should be a resident 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 person such as small/medium merchants and industrialists.
- 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 field․ In case the borrower is a freelancer, proven work experience should be at least 2 years.
- 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 have a good credit history.
If these requirements are met, an available limit will be determined based on the customer’s credit score.
Identification document (required for registration in the Byblos Mobile app)
- 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 its part 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.
- No early repayment fees apply for Online loans.
I = Interest amount
R = Current interest rate
L = Outstanding loan amount
N = Number of days between two payments
- Example:
R=15%
L=1,000,000 AMD
N=30 days
I=1,000,000*15%/365*30=12,329
- The loan is processed and disbursed via the Byblos Mobile app.
- The loan is disbursed by a non-cash transfer to the clients’ bank account.
- The loan disbursement is executed immediately after the application is approved online.
- 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 the loan are as follows:
a - credit history
b - accuracy of the information, provided by the borrower
c - solvency of the client (financial position)
d - creditworthiness of the client (personal qualities, absence of any legal impediment)
e - the type of security.
ATTENTION: WHEN YOU APPLY FOR A LOAN, THE BANK WILL PROVIDE YOU WITH AN INDIVIDUAL LEAFLET, WHICH OUTLINES THE SPECIFIC TERMS OF THE LOAN OFFERED TO YOU.
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 and score
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 5-10 minutes.
In case of non-fulfillment or improper fulfillment of credit 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 process of obtaining loans in the future.
According to the law of the RA on Combating Money Laundering and Terrorism Financing and for the proper investigation of the clients' profile, the Bank can obtain additional documents or other information as per the Know Your Customer principle, as well as ask additional questions during 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 Borrower’s status as a U.S. taxpayer.
In accordance with the requirements of the Common Reporting Standard (CRS) established by the Organization for Economic Cooperation and Development (OECD), the Bank may collect additional information to determine whether you are a tax resident of any foreign country or territory.
Information about loans are also available the section “Your financial info center” on www.fininfo.am, which is an electronic system for searching and comparing services and choosing the option that best suits your needs.
After signing the personal loan contract, you may communicate with the Bank by post or e-mail. The most convenient way for communication is the e-mail, which is available 24/7: the risk of information loss is eliminated, and secrecy is ensured.
You can receive the statement of the loan in your chosen way. Statements and the certificate of loan account are provided as per the tariffs bellow:
| 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
|
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Do you need 24/7 access to banking services but are too busy to go to the bank? Byblos Bank Armenia is offering you a convenient way to solve your problems through its Online Banking service and the Mobile Banking app without visiting the Bank.
Become a customer without visiting the bank. Download the Byblos Mobile app (onelink.to/ByblosMobile), register online, and manage your accounts from wherever is most convenient for you.
