Can I borrow money and get interest for it?
Yes. The lender has the right to receive interest on the loan from the borrower. The contract should indicate the amount of interest and the calculation procedure. If the contract does not indicate how interest should be paid, they should be paid every month. The amount of interest receivable cannot be more than two times higher than the calculated interest rate of the bank interest rate established by the Central Bank of Armenia. Currently, the estimated rate is 12 percent per annum, which means that the percentage in this case cannot exceed 24 percent per annum.