Online Loan Calculator
Calculate your monthly payment and total overpayment, and compare actual loan terms across all Armenian banks in just a couple of minutes.
10 000 ֏15 000 000 ֏
Loan term1 year
1 month10 years
%
Enter the annual interest rate indicated in your loan agreement
Calculation results
Monthly payment27 934 ֏
Loan amount300 000 ֏
Total interest35 208 ֏
Total repayment335 208 ֏
The calculator results are preliminary. Full payment conditions will be provided by the bank after signing the agreement
Find a loan
Choose the best terms from top Armenian banks
Loans in Armenian Banks: Average Terms
Number of Offers
60
Minimum Rate
from 8.3%
Maximum Amount
to 50 000 000 AMD
Maximum Term
up to 10 years
Banks on the Platform
17
Bank loans in Armenia tailored to your parameters
Byblos Bank ArmeniaStudent loan
Effective rate
5.11% - 8.35%
Amount
to 3 200 000֏
Term
up to 6 years
Converse BankStudent Loan
Effective rate
6.16% - 7.28%
Amount
to 4 000 000֏
Term
up to 7 years
Converse BankState
Effective rate
6.16% - 7.28%
Amount
to 4 000 000֏
Term
up to 10 years
ArmeconombankStudent loan (State program)
Effective rate
6.17% - 7.23%
Amount
to 4 000 000֏
Term
up to 10 years
ArtsakhbankStudent Loans (State Program)
Effective rate
6.2% - 7.25%
Amount
to 4 000 000֏
Term
up to 10 years
ArdshinbankConsumer loan without collateral
Effective rate
8.3% - 21.95%
Amount
to 15 000 000֏
Term
up to 10 years
UnibankStudent Loan
Effective rate
9% - 9.4%
Amount
to 4 000 000֏
Term
up to 10 years
EvocabankStudent Loans
Effective rate
9% - 9.45%
Amount
to 4 000 000֏
Term
up to 10 years
ArdshinbankStudent Loan
Effective rate
9.37% - 9.43%
Amount
to 4 000 000֏
Term
up to 5 years
IDBankStudent
Effective rate
9.38%
Amount
to 4 000 000֏
Term
up to 10 years
AraratbankStudent loan
Effective rate
9.38%
Amount
to 4 000 000֏
Term
up to 10 years
Fast BankStudent Loans (State Program)
Effective rate
9.4%
Amount
to 4 000 000֏
Term
up to 10 years
ArtsakhbankGold Secured Loans
Effective rate
12.71% - 21.9%
Amount
to 20 000 000֏
Term
up to 5 years
Converse BankConsumer loan SNAP
Effective rate
13.53% - 24%
Amount
to 10 000 000֏
Term
up to 3 years
Fast BankUnsecured Consumer Credit
Effective rate
13.81% - 23.1%
Amount
to 20 000 000֏
Term
up to 5 years
InecobankGold Secured Loans
Effective rate
14.7% - 18.3%
Amount
to 12 000 000֏
Term
up to 5 years
AMIO BankConsumer loan
Effective rate
14.82% - 23.42%
Amount
to 15 000 000֏
Term
up to 5 years
IDBankProfi
Effective rate
15.1% - 21.96%
Amount
to 10 000 000֏
Term
up to 10 years
VTB Bank (Armenia)Loan secured by gold items
Effective rate
15.3% - 24%
Amount
to 5 000 000֏
Term
up to 5 years
Mellat BankPrivilege Loan
Effective rate
15.4% - 18.7%
Amount
to 5 000 000֏
Term
up to 4 years
Byblos Bank ArmeniaSalary loan
Effective rate
15.41% - 15.91%
Amount
to 10 000 000֏
Term
up to 4 years
Byblos Bank ArmeniaOnline Loan
Effective rate
15.41% - 15.63%
Amount
to 10 000 000֏
Term
up to 4 years
IDBankIDgold package
Effective rate
15.54% - 22.31%
Amount
Individually
Term
up to 5 years
Inecobank1 CLICK online loans
Effective rate
15.8% - 23%
Amount
to 18 000 000֏
Term
up to 5 years
AraratbankGold-backed loan
Effective rate
15.9% - 23.18%
Amount
to 10 000 000֏
Term
up to 5 years
Before applying for a loan, it is crucial to understand beforehand how much you will pay each month and what the total overpayment will be. This helps you avoid hidden costs and choose a truly beneficial offer. Below is a simple step-by-step guide that takes no more than 2-3 minutes.
Step 1
Enter the loan parameters. Input your desired amount, term, and interest rate. If you are unsure of the rate, use the market average: up-to-date data is available in the Consumer Loans in Armenia section.
Step 2
Select the payment type. Annuity – you pay the same amount every month. Differentiated – payments are higher at the beginning and decrease over time, resulting in a lower total overpayment.
Step 3
Compare bank offers. The calculator will automatically display loans that match your criteria. Click "Learn More" to review the specific terms of a particular bank.
As a result you instantly see not only the monthly payment but also the total cost of the loan, allowing you to choose the option where the overpayment is truly minimal.
The calculator instantly determines three key indicators: your monthly payment, the total overpayment, and the overall cost of the loan. Below are calculation examples based on typical lending terms in Armenian banks.
The calculations are for estimation purposes only. Final terms are determined by the bank at the time of contract signing.
Monthly Payment Calculation (Annuity Scheme)
| Amount | Term | Rate | Payment Type | Monthly Payment |
|---|---|---|---|---|
| 3,000,000 AMD | 3 years | 22% (VTB) | Annuity | ~114,000 AMD |
| Differentiated | from 138,000 to 84,000 AMD | |||
| 5,000,000 AMD | 5 years | 19.3% (Ardshinbank) | Annuity | ~131,000 AMD |
| Differentiated | from 165,000 to 85,000 AMD | |||
| 3,000,000 AMD | 2 years | 18% (Byblos) | Annuity | ~150,000 AMD |
| Differentiated | from 170,000 to 125,000 AMD |
Loan Term Calculation
| Amount | Rate | Monthly Payment | Loan Term |
|---|---|---|---|
| 3,000,000 AMD | 22% | 120,000 AMD | ~3 years |
| 7,000,000 AMD | 19.3% | 200,000 AMD | ~5 years |
| 4,000,000 AMD | 18% | 180,000 AMD | ~2 years 6 months |
Maximum Loan Amount Calculation
| Monthly Payment | Term | Rate | Maximum Amount |
|---|---|---|---|
| 150,000 AMD | 5 years | 22% | ~4,800,000 AMD |
| 200,000 AMD | 7 years | 19.3% | ~8,500,000 AMD |
| 180,000 AMD | 4 years | 18% | ~6,000,000 AMD |
A loan calculator is an online tool that allows you to calculate the key parameters of a loan in a matter of seconds: the monthly payment, the total overpayment, and the full cost of the loan. To perform a calculation, you only need to specify three parameters: the amount, the term, and the interest rate.
The AFM online calculator works simultaneously for all Armenian banks: after the calculation, you will see real offers that match your specific criteria. This allows you to go beyond theoretical payments and compare which bank offers the most beneficial loan terms.
What You Can Calculate:
- Monthly payment for a given amount and interest rate
- Maximum loan amount based on a known monthly payment
- Overpayment across different terms to choose the optimal option
- Savings from early repayment
- New terms for refinancing an existing loan
| Parameter | Value |
|---|---|
| Minimum Rate | from 9.37% |
| Maximum Amount | up to 50,000,000 AMD |
| Maximum Term | up to 10 years |
| Number of Offers | 31 loans |
| Banks on the Platform | 17 banks |
Banks in Armenia use two primary loan repayment schemes: annuity and differentiated. Your choice affects both the monthly payment amount and the total overpayment—sometimes resulting in a difference of tens of thousands of drams.
| Parameter | Annuity | Differentiated |
|---|---|---|
| Payment Size | Equal throughout the entire term | Decreases every month |
| Total Overpayment | Higher | Lower |
| Initial Burden | Moderate and predictable | High during the first few months |
| Best Suited For | Stable income earners | Those whose budget allows for higher initial payments |
| Ease of Planning | Simple | More complex |
Example: 2,000,000 AMD, 3 years, 19% interest rate.
-
Annuity:
- Payment: ~73,200 AMD per month,
- Total overpayment: ~635,200 AMD.
-
Differentiated:
- Payment: from ~87,200 to ~56,500 AMD per month,
- Total overpayment: ~570,000 AMD.
Conclusion: Differentiated payments are more cost-effective regarding total interest, but they require a larger budget in the early months. Annuity payments are more convenient for long-term household budget planning.
Debt burden (or debt-to-income ratio) is the share of monthly payments for all loans relative to the borrower's total income. The Central Bank of Armenia recommends that this figure should not exceed 50% of monthly income. In practice, a level of up to 30-35% is considered comfortable.
Debt Burden Calculation Formula
Debt Burden = Total Monthly Loan Payments / Monthly Income × 100%
Calculation Example
- Monthly Income – 400,000 AMD
- Monthly Loan Payment – 120,000 AMD
120,000 / 400,000 × 100% = 30%
This means the debt burden is 30% of the monthly income. Generally, this level is considered manageable — after the loan payment, you have enough funds left for daily expenses.
How to Reduce the Burden:
- Increase the loan term to reduce the monthly payment
- Choose a bank with a lower rate by comparing options on AFM
- Refinance an existing loan on better terms
- Make a partial early repayment
The interest rate is the baseline parameter of a loan that determines the cost of borrowing. However, when comparing loans across different banks, another indicator is more important: the Annual Percentage Rate (APR). It includes not only the interest but also all commissions and mandatory payments required by the contract.
Difference Between Interest Rate and APR:
| Indicator | What It Includes |
|---|---|
| Interest Rate | Only the fee for using the money |
| Annual Percentage Rate (APR) | Interest + commissions + mandatory insurance |
Specific requirements depend on the bank and the loan product; however, most Armenian banks impose similar baseline conditions.
Typical Requirements:
- Citizenship of the Republic of Armenia or a residence permit
- Age: from 18–21 to 60–65 years at the time of final repayment
- A stable source of income
- Registration within the territory of Armenia
- A positive credit history
What Can Improve Your Terms:
- Collateral (real estate, vehicle) may reduce the interest rate
- Being a payroll client of the bank can provide access to preferential terms
- Having a guarantor allows for a potential increase in the total loan amount
Specific requirements for each bank can be found in the Consumer Loans in Armenia section.
A loan calculator is the first tool you should use before approaching a bank. It allows you to assess the actual burden on your budget and compare how payments shift with different terms or rates. The key takeaway: the calculator's result is a preliminary estimate. The bank determines final terms individually after verifying your documents.
Author: Svetlana Khachatryan, Head of Product Cluster at AFM
How do I calculate a monthly loan payment?
Enter the amount, term, and rate in the calculator above, and the result will appear automatically. For an annuity payment, the following formula is used: A = P × i / (1 − (1 + i)^(−n)), where P is the principal, i is the monthly interest rate, and n is the term in months. The calculator performs the calculation instantly without requiring manual formulas.
How do I calculate the loan overpayment?
Overpayment = total amount paid − loan principal. The online loan calculator displays the overpayment automatically after you enter the parameters. To reduce the overpayment, shorten the term or choose a differentiated payment type.
What is the Annual Percentage Rate (APR) and how does it differ from the interest rate?
The Annual Percentage Rate (APR) represents the full cost of the loan, including all commissions and mandatory payments required by the contract. The nominal interest rate reflects only the fee for using the money. When comparing loans, you should rely on the APR.
How do I calculate a loan with differentiated payments?
Select the "Differentiated" type in the calculator. Under this scheme, the principal is divided into equal parts, and interest is calculated on the remaining balance – resulting in a decreasing payment each month. The total overpayment on a differentiated loan is lower than on an annuity loan.
Can I lower the rate on my current loan?
Yes, through loan refinancing. You apply for a new loan with more favorable terms and use it to pay off the old one. Calculate your potential savings using the "Refinancing Calculator" mode above.
Is the calculator's result the exact payment amount?
No, it is a preliminary estimate. Final terms are determined by the bank after analyzing your credit history and documentation. Use the calculator to compare options and assess the burden on your budget.
Which Armenian banks offer loans?
AFM aggregates offers from all licensed banks in Armenia, including Ameriabank, ACBA Bank, Evocabank, IDBank, Araratbank, INECOBANK, Converse Bank, Ardshinbank, VTB Bank (Armenia), Unibank, and others. After the calculation, the calculator will display current offers matching your parameters.