Converse Bank has revised the terms of the promotion for gold-backed loans, making another offer along with it.

Within the frames of the promotion, the bank offers its customers AMD loans secured with gold as collateral, either with maturity of up to 3 months, inclusive, at the annual interest rate of 9%, or with maturity of 3-6 months, inclusive, at the annual interest rate of 10%.

“Considering the demand for gold-backed loans and affordability of this loan type for a large number of people, Converse Bank has prolonged the period of the respective promotion and has revised the terms of lending, reducing the interest rate. Within the framework of the campaign Converse Bank offers its customers gold-backed loans on terms, which are among the most competitive ones at the market,” the bank’s statement reads.

Namely, the bank offers its customers loans for an amount of up to 120% of the appraised value of gold. The maximum loan amount is AMD 7m or its equivalent in foreign currency, with maturity of up to 3 years. Within the framework of the campaign, no additional monthly service fees are charged.

The promotion is valid until January 31, 2018.