Consumer Loan "Interest-free"

Attention  The interest payments are calculatedbased on nominal interest rate, and the annual interest rate shows how much the loan will cost for you in case of paying the interest payments and other fees during the stated period. The order of calculating annual factual interest rate you can find here.


Warning  The borrower and the surety with all their private property ( house, car, salary or other property) are equally responsible for their undertaken obligations in front of Eclof  UCO: The property of the borrower and/or the surety can be repossed by law if the borrower doesn’t make the interest payments and loan repayments on time.


Warning  If the borrower doesn’t duly make the principal repayments and interest payments on time, the appropriate information about The Borrower and the surety will be registered in  CB of RA and «ARCA»loan institution.


Attention  Before signing the loan agreement Անհատական թերթիկ is provided according to the regulation N8/05 of Central Bank of Armenia “Comunication discipline of consumer and creditor, the bank and the depositer, conditions, forms and minimum requirements”


ECLOF UCO all payments are made in cash.


** Overdue loan amount and penalties / fines accrued on overdue interest amount is limited to the sum of 30% of the loan balance and interest on the overdue amount.

*** The loan committee may be set to be made more stringent requirement



individuals and / or employees (including contractors)



current assets purchasing

fixed assets purchasing




Term 15 month  


(Determined by the scale of  loan term credit granting stage, creditworthiness)



Application fee 0 AMD  
Disbursement(determined by the scale of the loan term) 45.000  

Interest payments

monthly of loan's principal amount residual

Principal repayments  monthly annuity payments   

Minimal amount

300 000 AMD 


Maximal amount

300 000 AMD


loan repayment security

2 guarantors (1 one of the guarantors must be family member)


Penalty for overdue loan amount 0.13% of overdue loan amount for each overdue calendar day  
Penalty for overdue interest 0.13% of overdue interest for each overdue calendar day  
Method of lending non-cash  
Real Interest 27.98%%  
Factors for rejection of loan application

the customer has not submitted the necessary documents to obtain credit and other grounds

The application submitted credit facility does not meet ECLOF UCO's mission,

the customer is engaged in the types of activities not financed by the ECLOF UCO,

customer has and / or had the financial liabilities, which were repaid in unacceptable delays,

not kept the rules adopted for the selection of the customer and / or joining the group,

ECLOF UCO customer's creditworthiness is low or there are other risks accepted by ratings

Loan registration place ECLOF UCO office


The list of necessary documentation

In case of any inconsistencies between the published Armenian and English information, the Armenian version prevails. Updated: 22.05.2019 16:59