Rocket Line

Rocket Line operates in more than 8,500 outlets, and in a number of points there is also an opportunity to make purchases with Rocket Line 0%. With Rocket line, you can buy any product, paying after 1 to 60 months, depending on the terms of the trade and service point.

Rocket Line limit is provided if you are an Idram&IDBank application Premium Plus user and a customer of IDBank. In that case, the Bank can set a minimum limit for you, starting from 10,000 AMD. Moreover, the credit history of the customer is not verified, there is no need to apply to the Bank either. The limit will appear automatically on the first page of your Idram&IDBank application. You can use the limit as needed; no interest shall accrue on the unused amount.

The limit of the Rocket line is from 10,000 to 10 million AMD, depending on the customer’s loyalty and credit history. In order to increase the limit, the customer can apply to the Bank from Idram&IDBank application or IDBanking.am online platform, give ACRA consent, and according to his credit score the Bank will either provide a higher limit, leave the limit unchanged, or refuse to provide the limit.

Yes, the opportunity of making payments from the limit can be turned off or on by clicking on the green line of the Rocket Line limit on the first page of the Idram&IDBank application, using the “Use limit when paying” button.

Information about the used limit can be found in the “Banking” section of the Idram&IDBank application, under Rocket Line loans or simply by clicking on the green line of the Rocket Line limit on the first page of the Idram& IDBank application.

Used limits can be repaid during the time period of 1-36 months as chosen by you, by making payment at any time convenient for you. The Rocket Line limit differs from ordinary loans in the absence of a mandatory payment schedule.

Yes, it is; just in addition to the principal amount you need to pay the interest accrued as of the settlement date, and in case of prepaid interest, the Bank will return it to the customer’s bank account at the end of the operational day.

Yes, the limit can be reset if the customer violates the payment terms, does not fulfil its other loan obligations to the Bank, appears in the black list, etc.

Yes, the limit can be renewed once you have used the limit or part of it, and made payments within the period of your choice.

You can pay for more than 450 integrated services in the Idram&IDBank application, as well as when making QR or NFC payments at  more than 20,000 outlets with Idram partners.

Rocket Line limit is provided to Idram Premium plus customers. However, in order to use it, it is necessary to become a customer of the Bank, to go through identification, to synchronize the accounts.

No, the limit is provided when you are a customer of both Idram and IDBank, i.e. you are a user of a joint platform of the two companies. You do not need to visit the Bank to become a customer of the Bank. From the Idram&IDBank application you can directly pass remote identification, become a customer of the Bank and use the Rocket line limit and all other services and benefits of the platform.

You have to visit any branch of the bank and write a corresponding application, after which your limit will become zero and it will no longer be active.

•    Rocket line can be formed for at least 1, 2, 3 months, and the maximum terms are defined depending on the amount of Rocket Line.
•    In case of non-cash payments up to AMD 30 000, the maximum term of the loan is 6 months, in case of payments from AMD 30 000 to AMD 100 000 - 36 months, with a period of 9 to 36 months (9, 12, 15, 18, 21, 24, 27, 30, 33, 36 months) in case of receiving Rocket Line, the client will make the payments by annuity option.
•    In case of payments over AMD 100 000, the maximum term is 60 months, with a term of 9 to 60 months (1, 2, 3, 6, 9, 12, 15, 18, 21, 24, 27, 30, 33, 36, 39, 42, 45, 48, 51, 54, 57, 60 months) in case of receiving Rocket Line, the client will make the payments by annuity option.
•    In the case of loans with a term of up to 6 months inclusive, the loan is repaid at the end of the term, and for loans with a term of 9 to 60 months, an annuity repayment method is defined.

No, the term is specified at the issuance stage and cannot be changed later.

In the case of partners with the possibility of Rocket line 0%, the interest rate changes, and in other points it is 21.7% for all terms.

When paying with the annuity option, the client will make equal repayments.

The interest rate of digital installment is different for merchants, depending on whether the Rocket Line merchant offers 0% and for what period.

Yes, the repayment schedule is provided along with the digital installment agreement.

The client can combine/delay Rocket Line and Rocket Line 0% (on non-annuity terms), but the new annuity loan will be formulated at the Bank's standard interest rate. Before the merge/delay operation, the client receives a notification.

If the aggregate balance (principal balance + interest) of the consolidating/deferred loans exceeds the client’s existing limit, the customer is informed that it is necessary to modify the list of loans by removing one or more loans from the list in order to continue the process.

After credit consolidation, the client's Rocket Line limit will be changed accordingly.

A target account is opened for the client when performing a first-time pooling/deferral. It is a bank account with certain restrictions, which are described in the account opening offer. The account is opened for consolidation/payment deferment loan.