Smart solution from AraratBank: electric car loans at an interest rate starting at 9%

AraratBank, in cooperation with Muran company, offers a smart solution – a loan for the purchase of an electric car starting at 12% in AMD and at 9% in USD. The annual interest rate depends on loan maturity.

As informed by the bank, this cooperation provides an opportunity for potential customers to purchase an electric car under favorable terms and at a competitive interest rate. The loan limit is AMD 2,000,000 - 50,000,000 for loans disbursed in local currency and USD 4,000 - 100,000 for loans in foreign currency.

The electric car loan is available to customers aged 22-65 with a stable source of income and a good credit history. The advance payment starts at 10%, depending on the creditworthiness assessed onsite at Muran LLC car showroom.

“The acquisition of an electric car has a number of advantages such as environmental protection, reduction of emissions, absence of annual environmental fees, significant reduction of current maintenance costs.

No one-time commission for loan processing as well as early repayment fee will be charged, and the loan decision will take a few minutes at the company’s car showroom,” the bank’s news release reads.

A detailed description of the terms of the loan may be found here.

Muran LLC is the official representative of Geely in Armenia.