Terms
tariffs
Purpose of the loan
Agricultural (acquisition of fixed and current assets), loan refinancing
Borrower
Individual aged 18–65, individual entrepreneur, legal entity
Loan currency
Armenian dram
Loan term
24-60 months
24-84 months
24-84 months
Grace period for the repayment of the loan principal
0-18 months
Loan amount
300,000 – 10,000,000 AMD
10,000,001 – 60,000,000 AMD
60,000,001 – 150,000,000 AMD
Annual nominal loan interest rate /fixed/
17%
15%
14%
Annual actual interest rate of the loan
18.33-18.36%
16.09-16.71%
14.93-15.00%
Loan provision and service fee
Not applicable
Penalty for overdue principal amount
0.1% daily
Late payment interest penalty
0.13% daily
Loan early repayment penalty
Not applicable
Security measure
300,000 – 3,000,000 AMD
- Guarantee from at least one individual (aged 18–65).
- The guarantor must be a real estate owner or have a documented salary.
3,000,001 – 10,000,000 AMD
Guarantee from at least two individuals (aged 18–65).
- At least one of the guarantors must be a real estate owner or have a documented salary.
- Guarantors must not have any current overdue obligations.
- The total number of days of overdue obligations for each guarantor over the past year must not exceed 30 days.
- Other forms of collateral may also be required based on the decision of the Credit Committee.
10,000,001 – 150,000,000 RA drams
- Real estate and/or a vehicle
- Other forms of collateral may also be stipulated by a decision of the Credit Committee.
- A vehicle, the manufacturing year of which—at the time of pledging—must not be older than:
5 years for Russian-made vehicles,
10 years for vehicles manufactured in other countries.
The vehicle is subject to mandatory "Casco" insurance (covering physical damage and theft) for the benefit of the Bank, for an amount at least equal to the loan amount and for the entire duration of the loan.
Loan/ Collateral maximum value
According to Appendix 1.
Collateral valuation
The collateral is subject to valuation by an independent property valuation agency cooperating with the Bank and/or by a Bank employee, depending on the loan amount.
The assessment by a bank employee is carried out free of charge.
Payment method
Annuity (equal monthly payment of principal and interest)
Differentiated (equal monthly payment of principal and monthly payment of interest)
Individual payment schedule depending on the specifics of the business
Payment method: per the customer's choice
ATTENTION: IN THE EVENT OF NON-PERFORMANCE OR INCOMPLETE PERFORMANCE OF YOUR OBLIGATIONS, THE LENDER SHALL, AFTER 3 WORKING DAYS, SUBMIT SUCH DATA TO THE ACRA CREDIT BUREAU AND THE CENTRAL BANK (CB) CREDIT REGISTRY, WHERE YOUR CREDIT HISTORY IS FORMED.
YOU HAVE THE RIGHT TO OBTAIN YOUR CREDIT HISTORY FROM THE CREDIT BUREAU FREE OF CHARGE ONCE A YEAR.
ATTENTION: A POOR CREDIT HISTORY MAY HINDER YOU FROM OBTAINING LOANS IN THE FUTURE.
ATTENTION: LOAN INTEREST IS CALCULATED ON THE BASIS OF THE NOMINAL INTEREST RATE, WHILE THE ANNUAL ACTUAL INTEREST RATE SHOWS HOW MUCH THE LOAN WILL COST IF THE INTEREST AND OTHER PAYMENTS ARE MADE WITHIN THE SPECIFIED PERIOD AND AMOUNTS. THE PROCEDURE FOR CALCULATING THE ANNUAL ACTUAL INTEREST RATE IS POSTED ON THE BANK'S OFFICIAL WEBSITE
You can find detailed information about credit history and credit score here
You can find other loan-related terms and conditions at the following link.