YEREVAN, July 17. /ARKA/. Acba Bank has started providing subsidized loans for construction of homes in border settlements as part of a government program designed for 2022-2024 to help ensure housing affordability for families in border settlements of the Republic of Armenia.
The eligible beneficiaries of the program are spouses registered in the state population register of the Republic of Armenia. At least one of them must have the citizenship of the Republic of Armenia.
Other terms of the loan are:
• Minimum amount: AMD 1,000,000
• Maximum amount: AMD 16,000,000
• Repayment period: 120 months
• Annual nominal interest rate: 13% (constant number of months: 12 months)
Subsidy conditions are:
• Subsidy on principal amount – no more than AMD 277,000 per month, and AMD 16,000,000 for the entire term of the loan,
• Subsidy on loan interest- 13%, no more than AMD 203,000 per month, and no more than AMD 12,668,000 for the entire term of the loan.
One can get acquainted with the rest of the terms and conditions of the loan here.
Under the program only loans granted for building a residential house in border rural areas of the Republic of Armenia are subject to subsidy.
Acba bank is controlled by the Central Bank of Armenia. -0-
