Consumer Loan Collateral – Free

The loan solution for unexpected family or personal needs

Get the funds you need with fast approval and peace of mind to achieve your goals.

No guarantor is required for loans up to AMD 1,000,000 with registered income

Empower your financial decisions with unparalleled flexibility.

You can contact us by phone by calling and receive the necessary consultation.

  • Personalized Approach and Flexible Terms
    Financing is provided based on the borrower’s financial capacity, income sources, and preferred repayment terms.

  • Individual Approach and Flexibility
    Take control of your finances with a grace period of up to 3 months annually, offering peace of mind.

  • Loan Limit
    Pursue your dreams with loan amounts extending up to AMD 5,500,000, empowering your aspirations.

  • Transparency
    All terms are fully transparent, with no hidden fees.

  • Speed and Simplicity
    Minimal documentation requirements and fast approval process.

  • Accessibility
    With branches across different regions of Armenia, we are available where you need us most.

Loan Calculator

Calculate
Calculate

* The following calculation is informative and may change slightly.

Apply Online

Applying for a loan with us is a straightforward and convenient process.

  • 1

    Receive a Call
    Our operator will call you within 15 minutes and double check details with you.

  • 2

    Apply Online
    Fill in our easy online application form.

  • 3

    Approval & Disbursement
    Upon visiting the nearest FINCA branch, your loan will be approved within 5 business days.

Start your application

Applying for a loan is straightforward and convenient.


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About the Loan

Main terms and conditions
Justification of incomeIn case of registered incomeIn the absence of registered income
Loan currencyAMD
ProgramImprovement of living conditions, other consumer goals
Loan amount300 001 – 5 500 000300 001 – 2 000 000
Loan maturity112–36 months12–36 months
Loan annual interest rate17%
Loan annual percentage rate234.68%-38.18% 36.43%-40.95%a
Loan service fee [monthly]31,2% 1,5%
Loan disbursement fee [one off]20%
Loan disbursement methodnon cash4
debt-to-income ratioMaximum 55%30% (in case of a registered income of at least 20%, then 35%)
Customer Requirements
  • Eligible Applicants: Individuals registered in the Republic of Armenia (RA) whose place of business falls within FINCA’s service area are eligible to apply.
  • Age Requirement: Applicants must be between 21 and 70 years old at the time of applying. The sum of the client’s age at the time of application and the expected loan period should not exceed 70 years.
  • Stable Income Requirement: Stable income during at least the previous 6 months
  • Borrower Responsibility: Borrowers should act on their behalf and for their benefit; taking a loan on behalf of a third person is prohibited.
  • Additional Criteria: Overdue payments of no more than 30 days in total during the previous 6 months. Moreover, in the absence of registered income, each delay is not more than 15 days.
  • Taking a loan on behalf of a third person is prohibited.
  • Co-Borrower Option: The loan can be provided to more than one borrower (co-borrower), in which case the requirements set for the borrower are also extended to the co-borrower.
Minimum requirements for securing a credit4

Credit rating

A stable source of income

In case of registered income

In case of absence of registered income

up to 1,000,000 AMD – no guarantor is required, 1,000,001 – 5,000,000 AMD – one guarantor is required5

up to 500,000 AMD – not required, 500,001 – 2,000,000 AMD – one guarantor5

The credit committee may claim other collateral requirements.

Loan repayment
  • The loan is repaid in equal monthly installments comprising the principal, interest, and service fee.
  • A grace period6 of up to 3 months per year is available.
Other terms and conditions

Loan disbursement in tranches7

Maximum 2 tranches

Maximum 2 tranches

Parallel loans (the maximum amount of the consumer loan total liability) with unlimited quantity

In case of registered income
AMD 5,000,000

In the absence of registered income
AMD 2,000,000

Notes
  1. The loan term can be extended to a maximum of 45 days, depending on the repayment schedule.
  2. calculated on the principal balance of the loan
  3. The actual annual interest rate reflects the total cost of the loan if all mandatory payments, including interest, are paid according to the established procedure. This rate is determined based on the assessment of the client’s creditworthiness.
  4. Upon approval, the loan amount is transferred to the client’s account.
  5. If only an external guarantor is available, a family member of the borrower, typically the spouse if married, is registered as an affiliated person.
  6. Grace period: a period during which no interest on the loan (or other payments) and the principal amount of the loan are paid, or only interest is paid (if applicable).
  7. Tranche: a general loan is approved by signing a single loan agreement, but disbursement is partial, based on pre-approved conditions for each tranche. One or both tranches can be provided as a new loan at FINCA’s current rates. In the case of installment approval, a collateral contract may be signed.
Required Documents (To Be Submitted In Person)

Required

  • ID cards of the borrower and the guarantors or their passports and social security cards
  • Email address of the borrower

Additional

  • Proof of income
  • Other documents upon request
  • Documents are submitted in paper form at the time of submitting an application for a loan or within three days after that
Factors Influencing The Loan Decision

Positive factors

  • Sufficient level of creditworthiness
  • Good credit history

Negative factors

  • Insufficient level of creditworthiness
  • Bad credit history
  • Lack of loan
  • Non-compliance with the set customer requirements
  • Provision of false or untrustworthy information
  • Other credit risks
Timing

Loan application decision

Up to 3 business days

Written or oral notification of the positive decision to the applicant

Up to 1 business day

Written (paper or electronic) and verbal notification to the applicant about the negative decision

Up to 2 business day

Loan disbursement

Up to 20 business days after the submission of the application

Term of validity of credit committee’s decision

Up to 15 business day

Other Notes
  • The borrower can apply for the loan in all FINCA branches.
  • Before signing the contract you will receive an individual sheet which will show your individual loan terms.
Early Repayment
  • The borrower can repay the loan earlier than stipulated by the payment schedule without incurring penalties. Upon early repayment, together with the reduction of the principal, the borrower’s total credit expenses (interest, other fees) are reduced proportionally, except for the cases when the payer submits a different written order. Penalties and other fees incurred as a result of failure to properly fulfill obligations stipulated by the RA legislation and the loan contract, as well as the fees defined by the Article 15 of the RA Law on Consumer Credit are not reduced. Upon full early repayment of the loan, the borrower pays the service fees and other charges, interest and principal amounts calculated as of the payment date.
  • Payments for future months can be made in advance by submitting a written order. Repayments for each upcoming month are made in the following order: 1) service fees and other charges, 2) interest, 3) principal.
Warnings And Penalties
  • “In case the borrower breaches the contractual obligations, FINCA may change the interest rate of the loan following the order provided by the contract and the terms constituting an integral part of the contract.
  • In case of failure to fulfill the contractual obligations according to the payment schedule, the borrower is obligated to pay a PENALTY for each overdue day in the amount of: 1) 0.13% of the overdue principal, 2) 0.13% of the overdue interest.
  • If the borrower fails to repay the principal on time, application of the contractual interest rate towards the overdue amount is terminated and a 24% annual interest rate is applied from the day of breaching the schedule till the loan repayment date. If the amount paid is not sufficient to cover all overdue obligations, the creditor’s expenses incurred in efforts to receive the due payments from the borrower are paid first, followed by the service fees, penalties, interest and principal. This order may change per the creditor’s decision based on the borrower’s written request.
  • In case of failing to fulfill your loan obligations, this information is sent to the credit bureau where your credit history is formed. Bad credit history can prevent you from receiving a new loan in the future.
  • In case of not fulfilling your loan obligations on time, your property may be confiscated in accordance with the law.
  • If the collateral is insufficient to cover loan obligations when repaying them at the expense of the collateral, payments are made at the expense of your other property.

The annual percentage rate calculation is based on the following formula:

where
A – the initial loan amount
n – the sequence number of the installment for loan repayment
N – the sequence number of the last installment for loan repayment
Kn – the amount of the nth installment for loan repayment
Dn – the number of days between the loan disbursement date and the date of the nth installment for loan repayment
i – the annual percentage rate

Calculation Example

Loan amount

AMD 5,000,000

Loan maturity

36 months

Loan annual interest rate

17%

Loan servicing fee

1,2%

Loan Repayment

36 months equal monthly repayments

Loan disbursement day

20 June 2025

Loan first repayment date

July 21, 2025

Loan annual percentage rate

36,28%

  • In the cases and according to the order provided by the contract and the terms constituting an integral part of the contract, FINCA has a right to unilaterally change the interest rate of the loan by up to +5 percentage points but not more than twice the bank reference rate set by the Central Bank of Armenia. The borrower should be notified about the change 7 business days prior to its entry into force.
  • Loan statements provided on the spot; other information is provided within 10 business days upon request. Provision of statements and other information is free of charge.
  • You can communicate with FINCA by using the channel of your preference: either postal services or electronic communication. It is more convenient to obtain information electronically as it is free of the risk of losing information on paper.
  • To compare the loan types offered to individuals and to choose the most suitable option, you can visit the electronic platform Your Financial Directory at www.fininfo.am.
  • When pledging property as collateral for a loan, a need to use third party services arises. The prices of those services and the respective service providers are presented below.
ServiceState Agency Or Cooperating Organization Providing The ServicesService Fee

Ratification of the pledge agreement

Notary Offices of the RA

AMD 3,000 – 20,000

Registration of pledge rights with respect to real estate

Cadastre Committee of the RA

AMD 3,000 – 30,000

Provision of a unified certificate on the real estate unit

Cadastre Committee of the RA

AMD 500 – 10 000

Registration of pledge rights with respect to agricultural machinery

The Ministry of Justice of the RA

AMD 2,000

Registration of pledge rights with respect to vehicles

Records and Examinations Divisions of the Road Police Service of the RA Police

AMD 2,000

Provision of a certificate on limitations with respect to vehicle alienation

Records and Examinations Divisions of the Road Police Service of the RA Police

AMD 3,000

Bank transfer (transfer of service fees)

RA banks

AMD 300 per transfer

Independent appraisal of real estate pledged as collateral

Cost Consult LLC
Oliver Group LLC
A.G. Borsa LLC
VM RP LLC
Gardi LLC
Finlaw LLC

Depending on the type and size of the property, minimum AMD 5,000

 

Effective from January 15, 2026, in accordance with the decision of the Board of Directors of “FINCA” UCO CJSC dated January 14, 2026 -03/2026

Customer Success

“I never imagined it would be possible to get money within a matter of hours, especially when I already had an existing loan from another bank. I visited the branch and received the money on the same day via card. The approval of this loan was crucial for me as I had an unexpected but pleasant expense. I managed to resolve it within a single day.” – Armine B

Frequently Asked Questions

The required documents include a Passport, Proof document of employment and/or other income.

Yes, you can. The available limit will be determined even if you don’t have a regular and registered income.

The total process can take up to 4 business days.

Yes, you can pay off your loan early without penalty.

We are always happy to talk

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