Responding to the trends in the financial market, Converse Bank has revised the terms and conditions of mortgage lending carried out in partnership with the National Mortgage Company, setting more competitive interest rates for a number of types of loans.

“For several consecutive years Converse Bank has been one of the leaders of the Armenian banking system in terms of both volume and quantity of mortgage lending. The portfolio has tripled since 2017 due to the bank’s flexible credit policy and rapid response to developments in the financial market,” the bank said.

Within the framework of the refinancing program carried out by National Mortgage Company, residential real estate development, acquisition and renovation loans will be provided at a nominal interest rate of 10.5%.

The nominal interest rate on energy efficient projects as well as residential real estate development, acquisition and renovation loans in regions will be set at the level of 9% per annum.

Additionally, within the framework of cooperation with the Black Sea Trade and Development Bank, mortgage lending will be carried out at nominal interest rate of 11.5%

All loans are provided for a maximum maturity period of 20 years. The maximum loan amount, depending on the type of loan, is AMD 35-60 million.