Tetev Cash

Quick and Paperless Financing

Secure funds within minutes without extensive paperwork.

Quick and Hassle-Free Financing

Experience the ease of obtaining urgent funds, skip the extensive paperwork, and secure financial support within minutes.

  • Speedy Approval: Enjoy the convenience of instant approval with just one call.

  • Transparent Terms: No hidden fees, collateral, annual interest rates, or disbursement charges. Repayment options range from 6 to 24 months.

  • Efficient Funding: Access up to 500,000 AMD financing swiftly with a single call, avoiding the hassle of unnecessary paperwork.

  • Guarantor-Free: securing financing up to AMD 500,000 with no guarantors required.

  • Nationwide Access: With 30 FINCA branches across Armenia, we’re accessible where you need us most.

Loan Calculator

* The following calculation is informative and may change slightly.

Apply Online

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

  • 1

    Apply Online
    Fill in our easy online application form.

  • 2

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

  • 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 with us is a straightforward and convenient process.


About the Loan

Main terms and conditions
Purpose of the loanImprovement of living conditions, other consumer goals
Loan currencyAMD
Loan amount50,000-500,000
Loan maturity6-24 months
Loan annual interest rate10%
Loan annual percentage rate139.8%-41.4%
Loan service fee [monthly]21,7%
Loan disbursement fee [one off]20%
Loan disbursement methodnon cash
Customer requirements
  • Individuals registered in RA, whose place of business is within FINCA’s service area.
  • Age: 21-70: the sum of the client’s age at the time of applying and the expected loan period should not exceed 70 years.
  • Borrowers should act on their behalf and for their benefit; taking a loan on behalf of a third person is prohibited.
Minimum requirements for securing a credit4

Credit rating

Loan repayment
  • The loan is repaid in equal monthly repayments consisting of the principal, interest and service fee.
Notes
  • Depending on the repayment schedule, the loan term can be extended to a maximum of 45 days
    Calculated according to the agreed amount.
  • The actual annual interest rate shows how much the loan will cost if interest and all other mandatory payments related to the loan are paid in accordance with the established procedure.
  • The procedure for calculating the actual annual interest rate is given below. It is determined based on the assessment of the client’s creditworthiness.
  • The loan amount is transferred to the client’s account.
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
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 1 hour

Written or oral notification of the positive decision to the applicant

Up to 1 hour

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

Up to 1 hour

Loan disbursement

Up to 1 business day

Term of validity of credit committee’s decision

Up to 1 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 100,000

Loan maturity

6 months

Loan annual interest rate

0%

Loan service fee

1,75%

Loan disbursement day

1 March, 2023

Loan first repayment date

1 March, 2023

Loan annual percentage rate

39․8%

  • 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

The terms will come into force in 2023.from June 9, 2023, in accordance with the decision of the Board of”FINCA” UCO CJSC dated 05/31/2023 No. 65/2023.

Customer Success

“Choosing FINCA for the “tatev cash” consumer loan was a wise decision; they swiftly provided the financial assistance I needed for important personal expenses. Their efficiency and customer-centric approach left me genuinely satisfied with the overall experience.” – Stepan

Frequently Asked Questions

To complete your application, you’ll need a Passport and a Proof document of employment and/or other income

Absolutely! You can apply, and the available limit will be determined, even if you don’t have a regular and registered income

The entire approval process is designed for efficiency and can be completed within just 5 minutes

We are always happy to talk

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