Evocabank launched SingleTouch online loans available through EvocaTouch application. The loans are approved 24/7.

The bank informed that SingleTouch loans are advanced in Armenian drams, at 14% nominal interest rate. Loan amount may vary from AMD 100k to AMD 500k with loan repayment period of 3, 6, 9 or 12 months.

Loans will be approved online automatically, without human interference. A client will receive notification on approval of the loan application within 5 minutes after filing the loan application through EvocaTouch application.

Evocabank’s cardholders will receive the loan amount directly to their cards, while individuals other than Evocabank clients can get the loan amount in any branch of the bank during work hours right after receipt of the notification of loan application approval.

Loan repayments will be made on a monthly basis in equal amounts.

The bank stressed that to get a loan, “one should be a diligent borrower and have a positive credit history. Being a full-time employer is desirable but not mandatory.”

“As the first and the only bank in Armenia to operate in Mobile-First format, we offer services that make the life of our clients more comfortable. SingleTouch loans are extended within 1-2 minutes without submitting additional documents, without visiting the bank and losing time. As mentioned in our advertisement, getting a loan is faster than preparing a cup of coffee or juice,” the statement reads.

The bank informed that the actual interest rate of the loan starts from 24,77%.

The partner of Fintech section is