Converse Bank’s gold-secured loan portfolio has grown by 14% since the beginning of the year, and as of November 20 the amount is above AMD 15bn.

“The growth of Converse Bank’s gold-secured loan portfolio is conditioned by several factors. First of all, the bank offers the best lending terms available on the market for this loan type. Besides, it regularly makes favorable offers to the customers,” the statement reads.

In particular, within the framework of the launched campaign (in Armenian), the bank offers its customers AMD loans for an amount up to 130% of the appraised cost of gold. The maximum loan amount is AMD 5m with maximum maturity of 6 months and annual interest rate of 13-14%.

“No additional monthly service fees will be charged within this campaign. The interest rate on the loan secured with pledge of gold is low, since the service fee is charged only at the lending stage,” the bank concluded, noting that within the framework of the campaign, loans will be issued both in AMD and in foreign currency.