Terms
tariffs
Development of entrepreneurial activity
Revolving or non-revolving credit line
Borrower
Resident legal entity of the Republic of Armenia, individual entrepreneur
AMD
USD
12-60 months
2,000,000 – 2,000,000,000 AMD
5,000-5,000,000 USD
Annual nominal interest rate on the credit line* (by type of collateral)
Guarantee
12–48 months – 2,000,000–10,000,000 AMD – 17%
Property
12–48 months – 10,000,001–400,000,000 AMD – 14%
12–36 months – 400,000,001–2,000,000,000 AMD – 14%
37–60 months – 400,000,001–2,000,000,000 AMD – 15%
Guarantee
12–48 months - 5,000 – 25,000 USD - 14%
Property
12–48 months - 25,001 – 1,000,000 USD - 10%
12–36 months - 1,000,001 – 5,000,000 USD - 9.5%
37–60 months - 1,000,001 – 5,000,000 USD - 10.5%
Annual effective interest rate of the credit line
Guarantee
12–48 months - 2,000,000 – 10,000,000 AMD - 18.8–20.3%
Property
12–48 months - 10,000,001 – 400,000,000 AMD - 14.8–16.6%
12–36 months - 400,000,001 – 2,000,000,000 AMD - 14.8–15.6%
37–60 months - 400,000,001 – 2,000,000,000 AMD - 15.9–16.7%
Guarantee
12–48 months - 5,000–25,000 USD - 14.8–15.7%
Property
12–48 months - 25,001–1,000,000 USD - 10.3–12.8%
12–36 months - 1,000,001–5,000,000 USD - 9.9–11.6%
37–60 months - 1,000,001–5,000,000 USD - 11–11.9%
A credit line may be provided via the card in an amount not exceeding AMD 15,000,000 or the equivalent in foreign currency, with a term not exceeding the card's expiration date.
Monthly
Depending on the nature of the business
0.5%
Annual interest rate calculated on the unused portion of the card credit line
0%
None
Maximum Loan-to-Collateral Value
In accordance with Appendix 1
Real estate and/or vehicle(s),
Guarantee(s)
Other forms of collateral may also be stipulated by the decision of the Credit Committee, including agricultural machinery.
Car
A motor vehicle whose year of manufacture, at the time of pledging, must not be older than:
· 5 years for Russian-made cars,
· 10 years for cars 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, with the requirement that the insurance contract be renewed annually throughout the entire term of the loan.
Business card terms and tariffs
In accordance with the tariffs in effect at the Bank
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.
Valuation performed by a Bank employee is free of charge.
0.1% daily
0.13% daily
Penalty for early reduction of the credit line agreement limit or for termination of the agreement.
In the event of a limit reduction: 5% of the reduced amount.
In the event of early termination of the agreement: 5% of the active limit.
Applicable to loans with a contract amount exceeding 5,000,000 (or the equivalent in foreign currency).
Guarantee (if applicable)
A guarantee from at least one individual (aged 18–65) or an Individual Entrepreneur who has no outstanding overdue obligations.
The total number of days of overdue obligations for any single guarantor over the past year must not exceed 30 days.
At least one of the guarantors must be a real estate owner or a registered employee.
Loans of up to 10,000,000 AMD or 25,000 USD may be granted without collateral, provided there are two guarantors who meet the aforementioned conditions.
*In the case of lending to credit organizations, set interest rates 0.5% lower.
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.