MobiDram offers online microloans for first time in Armenia

PanARMENIAN.Net - MobiDram, a subsidiary of VivaCell-MTS, keeps offering convenient and comfortable services to its customers. Its new mobile application available for iOS and Android platforms allows customers to manage their MobiDram accounts and use all MobiDram services via handphones.

MobiDram announced on Wednesday, November 2 that for the first time in Armenia, people can get microloans – starting from AMD 5000 – by registering online at any time, in any place, without pledges or warrants. To note, daily tarification is applied for using the service.

The service offers new tools for managing personal account and is aimed at improving the quality of the service, increasing time efficiency and making loans available to citizens with limited budget. The program has been implemented in cooperation with the first licensed microfinance organization in Armenia, SEF International UCO Ltd.

“As a subsidiary of VivaCell-MTS, MobiDram is guided by the principle of offering its customers the widest possible range of opportunities which, in turn, ensures high service quality and elaboration of new tools. We continuously broaden the list of services offered to our customers. To that end, we have created an opportunity to use the smartphone not only as a tool for communication and safe electronic payments, but also as a means of getting fast microloans. Besides, we have elaborated a simple procedure of loan application as a time-efficient and affordable solution for customers,” said VivaCell-MTS General Manager Ralph Yirikian.

Micro-financing service is available to Premium customers of MobiDram. A special simplified procedure of loan application is developed.

Entering the Current loans subsection within Microloans section in the MobiDram mobile application, customers can choose the preferred sum of the loan, get familiarized with the General provisions and terms of taking a loan elaborated by SEF, then press the Apply button and wait for 5 minutes to receive the notification on the approval of the microloan via SMS or e-mail, and/or on the personal MobiDram page. After the approval, customers have to check data filled in their personal form and confirm the data to receive the loan.

The decision on approving or rejecting the loan application is made by SEF International UCO.

The microloan transferred to the electronic account of MobiDram's Premium customer can be cashed out in one of the 24 branches of MobiDram, and/or used for utility, budget payments, online shopping, payments of fines and payments for parking fees, etc.

The maximum period of the loan is one year. After paying off the loan, customers can submit a new loan application.