Ameriabank is prolonging the mortgage loan redemption period to 15 years (versus the previous 10 years), Liana Aghayan, Head of Retail Lending at Ameriabank, has told ArmInfo. The advance payment starts from 5% of the market price of the housing.
Within the frames of mortgage lending, the Bank also provides home improvement loans and commercial mortgage loans.
"We offer our customers to determine the terms of their mortgage loans themselves. Taking into account their financial condition, the potential borrowers themselves determine the loan redemption period, i.e. they can choose one of the three methods of the mortgage loan redemption (annuity, differentiated and combined), as well as relieve themselves of the need to pay a fine for early redemption. The borrowers also receive an opportunity to choose the interest rate - fixed or floating", says Aghayan. She adds that the Bank preliminarily appraises the mortgaged property at its own expense.
As regards the automobile lending, Aghayan says that the Bank has recently started actively providing loans for acquisition of used cars as well. "The new facilitated tariffs will allow us to considerably increase the lending", she says.
Starting from March 1 2014, Ameriabank has been providing termless loan facilities with a grace period of up to 51 days.