The Armenian Development Bank offers new “Simplified” credit lines for those who want to avoid excessive complications of loan provision procedure and get the money as quickly as possible.

The credit line is based on the customer’s creditworthiness assessment and is envisaged for people with stable income and reliable credit history. It is provided in USD and EUR equivalent to AMD 7 million, with up to 7 year maturity period and real estate collateral.

“Thanks to the quick lending process and little documentation, our customers have the opportunity to get the loan within few days. Meanwhile, bank has reduced the interest rates and additional costs related to loan provision. Besides, there are no costs on estimation and insurance of collateral real estate, no application fee and no fine for early loan payment. It is also essential that the loan is long-term, which significantly reduces the repayment burden,” said Sargis Khachatryan, the Head of Loan and Investment Department at Armenian Development Bank.