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Who can apply?
VIVUS.AM – a Minimum to Pay Consumer loan without pledge and guarantee, provided by “Goodcredit” UCO CJSC (hereinafter referred to as “Company”), which shall be provided to individuals who are citizens of the Republic of Armenia, are 21-75 years old, have a regular income proven by the analysis, for the purpose of ordering or acquiring products (works, services) not related to entrepreneurial activity.
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Application
Online, through www.vivus.am website
Offline at branches or point of sales: https://goo.gl/DrFxbh Old customers can apply for a repeated loan via Viber, Whatsapp and Facebook Messenger platforms:Loan disbursement method
Cash, non-cash
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Maturity period
Loan repayment period shall be defined under the Loan Agreement and shall be considered timeless. The Company has the right to request Loan repayment based on (60 days) prior notice to the customer, except in cases of delay by the customer.
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Minimum amount
10,000 AMD
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Maximum amount
300,000* AMD
The amount of the approved loan is determined by the number of times a customer has access to the given credit, as well as the customer's risk analysis.
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Annual nominal interest rate
24%: The interest rate is fixed and shall not be subject to any changes during the operation of the Loan Agreement.
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Loan security
Customer’s financial flows.
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Loan service fee
9**-17***% Loan service fee calculated on the declining balance of the Loan, which shall be subject to payment on the regular payment day proportionally to the utilized days.
**Loan service fee is determined by risk analysis of the particular customer.
***In case of applying via messaging platforms, the Loan service fee defined by (*) will be reduced by 2%.
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Minimum mandatory (regular) fee
Fee, which includes:
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Loan interest rate, which is being calculated based on the nominal interest rate on the declining balance of the Loan,
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service fee, and
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1% of the outstanding balance of the Loan (moreover, as a result of the payment of the Loan amount to 1% of outstanding Loan the principal balance is reduced accordingly).
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Minimum mandatory (regular) fee payment frequency
It shall be paid on each next 30th calendar day.
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Grace period
If the customer fails to pay the Minimum mandatory (regular) fee within the regular time period provided for the payment of the Minimum mandatory (compulsory) fee payment, no penalties are imposed for 3 days following that period (Grace period).
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starting from the day following the grace period, the monthly interest amount and service fee will be considered overdue;
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starting from the 28th day following the grace period (unless the Minimum mandatory (regular) fee has not been paid until that period) shall be considered overdue.
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Interest calculation procedure
The interest rate of the Loan shall be calculated on the declining balance of the Loan based on the annual nominal interest rate.
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Loan and interest repayment method
Except for the Minimum mandatory (regular) fees, the Loan may be partially or fully repaid by the customer at his/her initiative, without any time and amount restrictions. In case of early Loan repayment at any time, in case of which no penalties and other fees are imposed.
In accordance with Article 880(1) of the Civil Code of the Republic of Armenia, the Loan shall be repaid within 60-day period following the day when the Company makes such a request. -
Penalties in case of failure to timely comply with Loan commitments
In case the customer fails to pay the Minimum mandatory (regular) fee within the grace period:
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The Company shall have right to calculate daily penalty in the amount of 0.13% on the overdue Minimum mandatory (regular) fee starting from the day following that period;
- Starting from the 28th day (unless the Minimum mandatory (regular) fee has been paid) the Company shall have right to calculate daily penalty in the amount of 0.13% on the Loan balance for each delayed date as well as Loan service fee and interest accruals shall be ceased.
Moreover, the sum of all penalties determined by the Loan Agreement cannot exceed the principal amount of the debt at the moment.
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Թարմացման ամսաթիվ՝ 14.04.2020, 13:30
FINANCIAL HELPER: www.abcfinance.am
