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Terms
tariffs
Development and implementation of energy-efficient projects
AMD
Minimum amount: AMD 2,000,000
Maximum amount: AMD 500,000,000
A startup business may be provided with a loan/leasing of up to AMD 5,000,000.
(A business is considered a startup if the potential borrower has not had any active business during the preceding 6 (six) months.)
10․75%
11.32-17.58%
none
Minimum term: 12 months
Maximum term: 60 months
0 - 12
0.1% per day
0.13% per day
In case of early repayment of a loan/leasing, a penalty of 5% of the amount repaid early is applied․
✔ Applicable to loans/leasing with a contractual amount of AMD 5 000 001 and more․
If the interest rates of loans/leasing are subsidized within the framework of the "Targeted Program for Promoting Productivity" (Appendix 1) approved by the RA Government Resolution No. 355-L "On Approval of Targeted Programs for Modernizing the Economy", dated March 26, 2020, as well as the "Program for Supporting Leasing Equipment in the Agri-Food Sector in the Republic of Armenia" approved by the RA Government's Resolution No. 893-L dated July 19, 2018, no early repayment penalty applies.
Resident legal entity of the Republic of Armenia**, individual entrepreneur
The repayment method is chosen by the customer.
Real estate and/or
Guarantees:
• For customers that are legal entities — personal guarantees from the business founders and ultimate beneficial owners,
• For individual entrepreneurs — if the ultimate beneficial owner is a third party, a guarantee from the ultimate beneficial owner.
Movable property.
Other forms of collateral may also be required by decision of the Credit Committee.
In the case of pledging a motor vehicle, the manufacturing age must not exceed:
• 5 years for vehicles of Russian origin,
•10 years for vehicles of other countries of origin.
In accordance with Annex 3.
The collateral is subject to valuation by an independent appraisal agency cooperating with the Bank and/or by a Bank employee, depending on the amount of the loan/leasing.
The valuation performed by a Bank employee is provided free of charge.
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/LEASING INTEREST IS CALCULATED ON THE BASIS OF THE NOMINAL INTEREST RATE, WHILE THE ANNUAL ACTUAL INTEREST RATE SHOWS HOW MUCH THE LOAN/LEASING 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.