How to Get a Loan on a Card: Online Application and Bank Conditions

If you urgently need money, you can apply for a consumer loan from home - without visiting a bank. All you need to do is submit an online application, provide your details, and wait for approval. However, it is essential to understand that an online application and an online loan are not the same. Let's break down the differences.

What is an Online Application, and How Does It Differ from an Online Loan?

An online loan application is the process of submitting a request to a bank via the internet without needing to visit a branch. However, there is a key distinction between an online application and an online loan:

1. Online application – This is simply the submission of your details for consideration. If approved, the bank may require you to visit a branch in person to sign the agreement or verify your identity.
2. Online loan – A fully remote process, including electronic contract signing and fund disbursement directly to your card without a bank visit.

Thus, an online application is the first step in obtaining a loan, but it does not always guarantee that you will receive the funds without a personal visit. Online loans offer fast access to money, but it is important to consider the bank's conditions and any associated fees.

Bank Conditions: Who Can Get a Loan on a Card and Under What Terms?

1. Loans for Salary Clients

Some banks offer loans exclusively to customers who receive their salary in that bank. These loans typically have lower interest rates and simplified conditions. This allows for faster processing without additional documents.

Examples of banks:

Byblos Bank Armenia – "Salary Loan" (interest rate 14.5%, amount up to 10,000,000 AMD).

ID Bank – "Profi" (interest rate 17%, amount up to 10,000,000 AMD).

Ardshinbank – "Unsecured Consumer Loan" (interest rate 20.2%, no limit on amount).

AMIO Bank – "Consumer Loan / Credit Line Without Collateral" (interest rate 18%, amount up to 10,000,000 AMD).

VTB Bank (Armenia) – "Loan Without Collateral" (interest rate 19.1%, no limit on amount).

Advantage: The bank is already familiar with your income, which increases your chances of approval and allows you to obtain a loan under better conditions.

2. Loans for Government Employees

Some banks offer special conditions for public sector employees, making it easier to apply for an online loan.

Examples of banks:

Mellat Bank – "Privilege Loan" (interest rate 16%, amount up to 5,000,000 AMD).

VTB Bank (Armenia) – "Loan Without Collateral" (interest rate 19.1%, no limit on amount).

Feature: These loans often have lower interest rates and longer repayment terms.

3. Loans for Pensioners

Some banks provide loans specifically for pensioners, considering their pension as the primary income source.

Example of a bank offering pensioner loans:

Ardshinbank – "Unsecured Consumer Loan" (interest rate 17.8%, amount from 100,000 AMD, no maximum limit).

Important: Check if an income certificate is required before applying.

4. Loans for All Customer Categories

Some banks offer loans to a broad range of borrowers, allowing them to get financing quickly but under varying conditions.

Examples of banks:

Ameriabank – "Unsecured Consumer Loan" (interest rate 20%, amount up to 10,000,000 AMD, a guarantor is required for non-residents).

Artsakhbank – "Unsecured Express Loan" (interest rate 17%, amount up to 120,000 AMD, a guarantor is required depending on the loan amount).

Converse Bank – "SNAP Consumer Loan" (interest rate 21.5%, amount up to 10,000,000 AMD, available to all customers).

Tip: These loans are accessible to everyone, but interest rates may be higher compared to special programs.

How to Apply for an Online Loan?

Step 1: Choose the Right Bank

1. Compare interest rates, loan amounts, and borrower requirements.
2. Check if a guarantor is needed and whether additional fees apply.
3. Compare loan offers to find the best option.

Step 2: Fill Out the Application on the Bank’s Website

1. Provide your full name, passport details, income level, and loan amount.
2. Select the card to receive funds (if the bank allows direct deposits to a card).

Step 3: Wait for the Decision

1. The response usually arrives within 15-30 minutes.
2. Some banks may require additional documents (e.g., income verification).

Step 4: Confirm Loan Disbursement

1. If the loan is approved, you may need to visit a branch to sign the agreement.
2. The money is credited within a few minutes to 24 hours after confirmation.

Key Factors to Consider When Applying for an Online Loan

Applying for an online loan is a fast and convenient way to access funds, but it requires careful attention to avoid unexpected problems. Here are some key factors to keep in mind:

1. Bank or Lender Reliability – Ensure the institution is licensed and has positive reviews to avoid fraud.
2. Loan Terms – Compare interest rates, fees, and additional charges that could increase the total repayment amount.
3. Approval Process – Some banks promise instant approval, but document verification and credit history checks can take longer.
4. Repayment Options – Ensure the bank offers convenient repayment methods, such as automatic payments or early repayment without penalties.
5. Data Security – Use only official bank websites and trusted platforms to prevent data breaches.
6. Fund Withdrawal Methods – Some banks (e.g., Mellat Bank) do not issue plastic cards, meaning funds can only be withdrawn in-branch.

Conclusion

Getting a loan on a card is a quick and convenient way to access financing. However, the conditions vary based on the borrower category and the bank’s requirements. Before applying, compare offers to choose the best option and avoid overpaying.

Want to find the best loan with favorable conditions and save both time and money? Use AFM to compare bank offers and select the most suitable option.