Consumer Loan Without Collateral


Consumer Loans without collateral up to AMD 5,000,000 aimed at improving your living conditions.


AMD 300,001 – 5,000,000


28,1% – 72,3%


6 – 36 months


Loan Application


Our Benefits

  • Predominance of loans without collateral

  • Completing a loan application at a place convenient for the customer trough a visit from our specialist

  • Quick decision-making

  • Flexible loan repayment schedule

  • Individual approach to each client


About the Loan

Loan currency AMD
Loan amount 300,001 – 5,000,000 300,001 – 5,000,000
Loan maturity 6 – 36 months
Loan annual interest rate2 19.9% – 22.9% 22.9%
Loan annual percentage rate2
28.1% – 59.8% 52.4% – 72.3%
Loan service fee [monthly]3 0.2% – 0.7% 1%
Loan disbursement fee [one off]3 2% – 3.5% 3.5%
Loan disbursement method Cash, non cash
Loan purpose Improvement of living conditions, other consumer purposes
Loan service fee [monthly]3 Maximum 55% 30% (in case of a registered income of at least 20%, then 35%)
  • 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.
  • Stable income during at least the previous 6 months.
  • Borrowers should act on their behalf and for their benefit; taking a loan on behalf of a third person is prohibited.
  • 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.
In case of registered income In absence of registered income
  1. Rate of credibility
  2. Sustainable source of income
  3. Guarantor, moreover:
    • Up to AMD 1,000,000 – not required
    • AMD 1,000,001 – AMD 5,000,000 – one guarantor
  • Rate of credibility
  • Sustainable source of income
  • Guarantor, moreover:
    • Up to AMD 500,000 – not required
    • AMD 500,001 – AMD 2,000,000 – one guarantor
The loan can be provided to more than one borrower (co-borrower), in which case the requirements for the borrower also apply to the co-borrower.
  • The loan is repaid in equal monthly repayments consisting of the principal, interest and service fee.
  • Grace period6 of up to 3 months per year is available.
Loan disbursement in tranches Maximum 2
Parallel loans (the maximum amount of the consumer loan total liability) with unlimited quantity In case of registered income In the absence of registered income
AMD 5,000,000 AMD 2,000,000
  1. The terms of the loan are determined by the customer’s credit rating.
  2. The loan interest is calculated with respect to the outstanding amount, based on the annual interest rate. Whereas, the annual percentage rate (APR) shows the cost of the loan if the interest and all other required fees are duly paid according to the repayment schedule. The APR calculation is described in the Annual Percentage Rate section of this page.
  3. Calculated with respect to the principal.
  4. Ratio of total liabilities (including repayments of current loans owed) to the total net household income ratio.
  5. Guarantors can be internal — family members, or external — other people. In case there are only external guarantors, a member of the borrower’s family — if the borrower is married, then their spouse — should be registered as an affiliated person.
  6. Grace period — a period, during which no principal repayments are made.
REQUIRED DOCUMENTS (to be submitted in person)

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


  • Proof of income
  • Other documents upon request

Positive factors

  • Good credit history
  • Sufficient level of creditworthiness
  • Stable income

Negative factors

  • Bad credit history
  • Insufficient level of creditworthiness
  • Absence of stable income
  • Providing false or unreliable information
  • Other negative factors
  • Making a decision with respect to the loan application: up to 4 business days
  • In case of a positive decision, providing the applicant a written or verbal notification on the decision: up to 1 business day
  • In case of a negative decision, providing the applicant a written (paper or electronic) or verbal notification on the decision: up to 1 business day
  • Disbursing the loan: up to 20 business days after the submission of the application
  • The credit committee decision is valid for up to 15 business days
  • 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.
  • 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.
  • 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:
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
Loan amount AMD 5,000,000
Loan maturity 36 months
Loan annual interest rate 19.9%
Loan service fee 0.3%
Loan disbursement fee 2.5%
Loan repayment 34 months of equal monthly repayments

2 months of grace period

Loan disbursement day 20 October 2021
Loan first repayment date 20 November 2021
Loan annual percentage rate 31%
  • 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
  • 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:
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
Gardi LLC
Finlaw LLC
Depending on the type and size of the property, minimum AMD 5,000

Current terms are effective as of January 3, 2022, based on FINCA UCO CJSC Management Board resolution 174/2021, 30.12.2021



  • Additional Service Fees
  • FINCA UCO is regulated by the Central Bank of Armenia
  • To search and compare the services offered by financial institutions of the RA, you can visit the Fininfo electronic platform