Evocabank has launched a new online lending service through its mobile application. SingleTouch loans, available to customers 24 hours a day/7 days a week, are given in local currency at a nominal rate of 14%. Loan amounts vary between AMD 100,000 and AMD 500,000, with repayment periods available of 3, 6, 9 or 12 months. Loans are automatically approved online, with the client receiving a response to his/her application within five minutes. Evocabank clients receive the loan amount directly on their cards, while non-Evocabank clients can visit any bank branch during working hours to receive the loan amount.