AraratBank launches a new, attractive loan product, enabling customers to consolidate multiple loans from other financial institutions into a single loan at competitive interest rates.

The bank offers consumer loans of up to AMD 5 million, tailored specifically for the consolidation and transfer of existing loans from other financial institutions. Applicants are required to have a positive credit history and a proven track record of loan repayment.

Loan Terms:

•    Annual Interest Rate: 17%
•    Effective Interest Rate: 18.40%
•    Loan Amount: up to AMD 5 million 
•    Additional Loan Amount: an additional amount of up to AMD 1,000,000 may be offered, beyond the transferred loans, but it cannot exceed the maximum loan amount set for this loan product.
•    Maturity: up to 5 years
•    Application Processing Fee: No fee applies.

“Simplify your life by taking control of your financial obligations. Transfer your existing loans to AraratBank and consolidate them into one – one due date, one monthly payment, and complete peace of mind,” the news release says.

For more details about the new loan offer, visit any AraratBank branch or call at +374 10 59 23 23.

AraratBank is regulated by the Central Bank of Armenia.