Current terms are effective from April 24, 2022


MAIN TERMS AND CONDITIONS

Loan currency ----- Armenian Dram

Loan amount (1) ----- 2,000 - 6,000,000

Loan repayment method----- Bullet

Loan maturity ----- 12 month

Loan annual interest rate (2) ----- 19,9%

Loan annual effective interest rate (APR) ----- 21,8%

Loan service fee [monthly] (3) ----- 0

Loan disbursement fee [monthly] ----- 0

Loan disbursement method ----- Non cash

Loan purpose ----- consumer


NOTES

1. The loan amount should be not less than 2,000 AMD.
2. The loan interest is calculated for the outstanding amount, based on the annual interest rate. Whereas, the annual effective interest rate (APR) shows the cost of the loan if the interest and all other required fees are duly paid according to the repayment schedule. The APR calculation is described below under section “Annual Effective Interest Rate.
3. There is no monthly service fee or any other fee charged to the client. However, there can be one-time charges from the third parties depending on which loan receiving channel the client will choose.

CUSTOMER REQUREMENTS

• Resident and non-resident physical persons
• Age 18+
• Smartphone which supports iOS 11/Android 5 or higher operation systems
• Existence of gold collateral which cost more than 100,000 Armenian Dram

LOAN SEQURITY REQUIREMENTS

• Applicable types of collateral are gold jewelry, including diamonds on gold jewelry, gold bars, gold coins, scrap, and other items made from yellow and white gold.
• Loan/collateral: up to 100%.
• During the collateral appraisal, the historical, cultural, and artistic value of the gold items, the value of products made of precious (except diamonds) and semi-precious stones are not taken into account.
• During the collateral appraisal, only the face value and the weight of the gold components of the collateral are taken into consideration.

LOAN REPAYMENT

• Bullet payments – the loan amount is paid at the end of the term, interest and service fees (if applicable) are paid on a monthly basis

Annual Effective Interest Rate

The annual percentage rate calculation is based on the following formula:
... N .. Kn
A=∑ --------------
... n=1 .. (1+i) Dn/365 where

A – the initial loan amount
n – the sequence number of the installment for loan repayment
N – the sequence number of the last installment for loan repayment
Kn – the amount of the nth installment for loan repayment
Dn – the number of days between the loan disbursement date and the date of the nth installment for loan repayment
i – the annual effective interest rate


CALCULATION EXAMPLE

Loan amount/-800,000 Armenian Dram
Loan maturity/-12 month
Loan annual interest rate/-19,9%
Loan service fee/- 0%
Loan disbursement fee/-0%
Loan repayment/- Bullet
Loan disbursement date/-05 October 2020.
Loan first repayment date/-05 November 2020.
Loan effective interest rate/-21,8%

EARLY REPAYMENT

• The borrower can repay the whole loan or part of the loan earlier than stipulated by the payment schedule without incurring penalties. Upon early repayment, together with the reduction of the principal, the borrower’s total credit expenses (interest, other fees) are reduced proportionally, except for the cases when the payer submits a different written order. Penalties and other fees incurred as a result of failure to properly fulfill obligations stipulated by the RA legislation and the loan contract, as well as the fees defined by Article 15 of the RA Law on Consumer Credit are not reduced. Upon full early repayment of the loan, the borrower pays the service fees (if applicable) and other charges, interest, and principal amounts calculated as of the payment date.
• Payments for future months can be made in advance by submitting a written order. Repayments for each upcoming month are made in the following order: 1) service fees and other charges (if applicable), 2) interest.

WARNINGS

• If you do not pay all the due interest or loan amount for more than 90 days then your pledge will be sold to cover your loan and interest obligation.
• If the borrower fails to repay the principal on time, application of the contractual interest rate towards the overdue amount is continuing until the loan repayment date. If the amount paid is not sufficient to cover all overdue obligations, the creditor’s expenses incurred in efforts to receive the due payments from the borrower are paid first, followed by the service fees (if applicable), interest, and principal.
• In case of failing to fulfill your loan obligations in due time and/or due amount, this information is sent to the credit bureau where your credit history is formed. Bad credit history can prevent you from receiving a new loan in the future.
• In case of not fulfilling your loan obligations on time, your property may be confiscated in accordance with the law.
• If the collateral is insufficient to cover loan obligations when repaying them at the expense of the collateral, payments are made at the expense of your other property.

Note

• DIGISAFE CU CJSC is controlled by the Central Bank of Armenia.
• To search and compare the services offered by financial institutions of the RA, you can visit the Fininfo electronic platform