Agro Fast Agricultural Loans

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AGRO FAST

16%

Annual nominal rate

50,000,000֏

Maximum loan amount

60months

Maximum term of loan repayment

Doesn't apply

Early loan repayment penalty

Enters into force on 27․01․2023

*Translated documents with the terms and conditions will be available soon.

TERMS AND TARIFFS

updated 05-08-2021, 09:00

Loan Currency	AMD
Creditor	Individuals, Private Entrepreneures, Legal entities
Annual nominal interest rate	15%
Annual percentage rate of the loan	16.04%-19.41%


Credit terms	*Operating expenditures*	Up to 5,000,000 AMD - 24 months*
		5,000,000 - 50,000,000 AMD - 24-36 months *
	*Capital investments*	24-60 months*
	*Mixed (Capital investments +Operating expenditures)*	24-60 months* *By the decision of the Credit Committee, the loan may be approved for a shorter period than the specified minimum period
! Depending on th e type of activity and the purpose of the loan, may be provided a grace period for the principal amount of the loan
Loan amount	300,001 - 50,000,000 AMD
Loan service monthly fees	Not charged
Loan disbursement fee	Not required
Late loan principal fee	0.1% daily
Late interest fee	0.13% daily
Loan early repayment	The borrower has the right to make an early repayment of the loan: fully or partially Early repayment penalty is not applied
Other fine	·In case of overdue 5 days in a row, a penalty of 1% is applied to the loan balance, but not more than 50,000 AMD. ·In case of non-targeted use of the amount, a fine in the amount of AMD 50,000 is applied.
In case of non-targeted use of the amount, the annual nominal interest rate of the loan may be changed unilaterally, being set at twice the current interest rate of the Central Bank of Armenia.
Pledged asset	300,001-500,000 AMD` · at least 2 Guarantees Natural person /18-65 years/ or Private Entrepreneures /At least one of the guarantors must be a real estate owner or have a registered salary/ 500,001-2,000,000 AMD` ·at least 3 Guarantees Natural person /18-65 years/ or Private Entrepreneures /At least two of the guarantors must be a real estate owner or have a registered salary/ 1,000,000-50,000,000 AMD` ·Real estate (building) and / or vehicle, agricultural machinery* ·Other collateral may be required by decision of the Credit Committee.
* Vehicle	Vehicle, the manufacture date of which mustn’t be earlier than · For Russian manufactured vehicles: 5 years, · For other countries manufactured vehicles: 20 years The vehicle is subject to compulsory Casco (Physical Damage) insurance in favor of the Organization, at least in the amount of the Loan and throughout the term of the Loan.
**Agricultural machinery	Combine, tractor, truck, excavator - other equipment, the acceptance criteria of which are determined by the Organization.
Loan to collateral value maximum ratio	Maximum up to *70%* of liquid value of collateral
Pledge appraisal	The pledge is subject to appraisal by an independent property appraisal agency cooperating with the Organization and/or an employee of the Organization. The evaluation is carried out by the employee of the organization free of charge.
Repayment method	· Annuity /equated monthly installments to pay off the principal and interest/ · Differentiated / Monthly equal amount of principal and monthly interest payment / · Individual payment schedule

OTHER TERMS

Introduction

1. In order to use the services provided within the framework of these tariffs, the Borrower shall pay the following amount for the services provided by the third parties mentioned below:

In case of real estate pledge.

ü Certificate on real estate restrictions - 10,000 AMD,

ü Fee of state registration of rights - 26,000 AMD,

ü Pledged property assessment fee - 15,000-25,000 AMD.

In case of a vehicle pledge.

ü Certificate on vehicle restrictions - 3,000-4,000 AMD,

ü Fee of state registration of rights - 2,000-3,000 AMD,

ü Pledged property assessment fee - 11,000-12,000 AMD,

ü Collateral insurance. 2.5% of the loan amount․

2. Regardless of the third party fee rates mentioned in these terms, the fees for the services provided by the latter may change.

3. Loan interest is calculated on the active (non-overdue) balance of the loan, based on the calculation of 365 days a year.

4. The list of required documents, as well as the list of insurance companies and independent assessors cooperating with the Organization are defined in separate Annexes.

5. The loan is provided at the Head Office of the Organization, "Shrjanayin", "Avan", "Davtashen", "Komitas", "Erebuni", "''Harav-Arevmtyan,"Armavir", "Artashat", "Masis", "Goris", "Gyumri", " Vanadzor "," Abovyan "," Hrazdan "," Echmiadzin "," Martuni "," Ijevan " , " Artik" branches.

6. The factors for making a positive loan decision are the following:

§ Compliance of the Borrower, Pledge and Guarantor (if any) with the requirements set forth in this document

§ The borrower shall have no overdue liabilities as of the application submission date

§ The sum of overdue liabilities during the 12 months preceding the time of application shall not exceed 30 days.

§ The individual borrower must be the owner of the real estate, except in the case of loans secured by real estate.

7. The factors for loan rejection are the following:

ü Non-compliance of the Borrower and/or Pledge and/or the Guarantor (if any) with the requirements set forth in this document

8. Making a decision on the loan application after submitting the required documents, informing the borrower within 5 working days.

9. Provision of loan within up to 2 working days after submitting all required documents.

10. As a rule, any amount deposited for the purpose of loan repayment is directed by the Organization to the repayment of the amounts to be paid to the Organization by the Customer by virtue of loan agreement at the time of depositing, including penalties, service fees, interest, Loan amount repayment. The organization has the right to define a different order of amounts to be paid in the contract with the Customer.

11. In case of early repayment of the loan by the Customer, the loan interest amounts and the service fees, if any, are proportionally reduced if the latter is accrued on a daily basis, while the payments made to third parties are not subject to reduction.

12. Tariffs for non-financial services, including terms of provision of statements, copies of contracts and other information are published on the official website of the Organization: www.fastcredit.am, as well as posted in the places of business of the Organization.

13. WARNING: IF THE INTEREST AMOUNTS, LOAN AMOUNT, SERVICE FEES ARE NOT PAID IN TIME THE PLEDGED PROPERTY CAN BE CONFISCATED BY THE PROCEDURE ESTABLISHED BY LAW.

14. ATTENTION: IN CASE OF NOT FULFILLMENT OR INCOMPLETE FULFILLMENT OF THE OBLIGATIONS BY YOU, THE ORGANIZATION SENDS THOSE DATA TO THE CREDIT BUREAUWITHIN 3 WORKING DAYS WHERE YOUR CREDIT HISTORY IS FORMED. YOU HAVE THE RIGHT TO GET YOUR CREDIT HISTORY FROM THE CREDIT BUREAU FREE OF CHARGE ONCE EVERY YEAR. ATTENTION: BAD CREDIT HISTORY MAY HINDER RECEIVING A LOAN IN THE FUTURE.

15. ATTENTION: LOAN INTEREST AMOUNTS ARE CALCULATED BASED ON THE NOMINAL INTEREST RATE, WHILE THE ACTUAL ANNUAL INTEREST RATE SHOWS HOW MUCH THE LOAN, INTEREST AMOUNT AND OTHER PAYMENTS WILL COST IN CASE OF PAYING IN THE ESTABLISHED TIME AND AMOUNT. ACTUAL ANNUAL INTEREST RATE CALCULATION PROCEDURE IS POSTED ON THE OFFICIAL WEBSITE OF THE ORGANIZATION (www.fastcredit.am).

16. ATTENTION: YOU HAVE THE RIGHT TO COMMUNICATE WITH THE FINANCIAL ORGANIZATION IN THE MANNER PREFERRED BY YOU BY MAIL OR ELECTRONICALLY. GETTING INFORMATION ELECTRONICALLY IS THE MOST CONVENIENT. IT IS AVAILABLE 24/7, IS FREE OF RISK OF LOSS OF PAPER INFORMATION AND ENSURES PRIVACY.

17. ATTENTION: YOUR "FINANCIAL DIRECOTRY" IS AN ELECTRONIC SYSTEM THAT MAKES IT EASIER FOR YOU TO SEARCH AND COMPARE SERVICES PROVIDED TO NATURAL PERSONS AND CHOOSE THE MOST EFFECTIVE OPTION FOR YOU.