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Terms
tariffs
Micro
Medium
Agricultural (for capital, current and mixed investments) *
AMD
Loan amount**
300,000-10,000,000 AMD
2,000,000-160,000,000 AMD
! The amount of the loan provided for a start-up business cannot exceed 5 million AMD.
(A business is considered a start-up when the potential borrower has not had any other operating business (neither in agriculture nor in other sectors) during the previous 6 (six) months.
! In the case of mixed investment lending, the share of loan funds provided for the purpose of acquiring working capital cannot exceed 30% of the loan amount.
Minimum term: 24 months
Maximum term: 60 months
Minimum term: 24 months
Maximum term: The maximum term currently in effect within the framework of the loan type "Agrofast" agricultural loan with the Bank's own resources
3-18 months - throughout the loan term
Consecutive grace months are not mandatory
Nominal annual loan rate **
12%
Up to 60 months: 12%
Starting from month 61, the annual interest rate applicable at the Bank in accordance with the contractual term of the loan within the framework of the loan type"Agrofast" agricultural loan with the Bank's own resources at the given moment
Effective annual interest rate
12.64 - 12.66%
12․69 - 15․94%
In case of non-qualification of the loan by the “German-Armenian Fund” Project Management Office or termination of the qualification of the provided loan, as well as in case of non-target use of the loan funds by the Borrower, the loan is considered to be provided with the Bank's own resources, after which the loan continues to operate in the Bank at the current annual interest rate in accordance with the contractual term of the loan within the framework of the Bank's own resources "Agrofast" agricultural loan type
Loan issuance fee
Not applicable
0.1% daily
0.13% daily
Loan prepayment penalty
In case of early repayment of the loan, a penalty of 5% of the amount repaid early is applied
Applicable to loans with a contractual amount of AMD 5,000,001 and above
18-65 years old individual, private enterprise, legal entity
Annuity (equal monthly payments of principal and interest)
Differentiated (equal monthly principal payments plus monthly interest payments)
Individual payment schedule
Repayment method: at the customer's discretion
Security instrument/Pledged object
In case of a loan amount of 300,000-3,000,000 AMD
Guarantee of at least 1 individual (18-65 years old) or private enterprise with no current overdue liabilities,
The guarantor must be the owner of real estate or have a registered salary.
The total number of days of overdue liabilities of the guarantor during the last year should not exceed 30 days.
In case of a loan amount of 3,000,001-10,000,000 AMD
Guarantees from at least 2 individuals (18-65 years old) or private enterprises with no current overdue liabilities
At least one of the guarantors must be a real estate owner or have a registered salary.
The total number of days of overdue liabilities of each guarantor during the last year shall not exceed 30 days
Other security measures may be provided by decision of the Credit Committee
2,000,000-160,000,000 AMD
Real estate (building) and/or vehicle*** (The mortgage agreement is notarized),
By the decision of the Credit Committee, other collateral may also be provided, including agricultural machinery.
** A vehicle whose production date at the time of pledge shall not be older than:
- for cars of Russian production: 5 years,
- for cars manufactured in other countries: 10 years.
The car is subject to mandatory "Casco" (physical damage and theft) insurance in favor of the Bank, at least in the amount of the loan amount and subject to renewal of the insurance contract every year during the entire term of the loan. The insurance is carried out at the expense of the Borrower throughout the term of the loan.
Not specified
Combine, tractor, truck, excavator, and other machinery, with acceptability criteria determined by the organization.
Not defined
According to Appendix 1
Not defined
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.
* The total balance of loans provided to the same borrower cannot exceed 160 million AMD.
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.