Terms
tariffs
RA resident: Private Enterprise, Legal Entity
Business must be registered and operating for at least 3 months
Loan Purpose
Acquisition of working capital, refinancing of loans, acquisition of fixed assets, and other entrepreneurial activity development.
The business must be registered and operating for at least 6 months.
Loan Type
Loan, Credit Line
Loan Currency
AMD
USD
Loan Amount
2,000,000 – 150,000,000 AMD
5,000 - 400,000 USD
Annual Nominal Interest Rate of the Loan (Fixed)
13.75%
14.5%, if targeted monitoring of the use of credit funds is not carried out
11.5%
12.25%, if targeted monitoring of the use of credit funds is not carried out
Annual Nominal Interest Rate of the Credit Line (Fixed)
14%
14.75%, if targeted monitoring of the use of credit funds is not carried out
12%
12.75%, if targeted monitoring of the use of credit funds is not carried out
Interest Rate of the Unused Portion of the Credit Line
1%
Annual Effective Interest Rate
Loan: 14․96 - 22․01%,
Credit Line: 15.17 - 19.36%
Loan: 12․99 - 21․00%,
Credit Line: 12.90 - 16.70%
According to the RA Law "On Consumer Crediting", the annual effective interest rate is calculated for loans up to 5,000,000 AMD (including 5,000,000 AMD) and (or) equivalent foreign currency.
Loan: 12 - 120 months
Recoverable credit line: 12 - 60 months
Non-recoverable credit line: 12 - 120 months
Principal repayment grace period
0-6 months in case of loan and recoverable credit line
0-12 months in case of non- recoverable credit line
Analysis of the borrower's financial condition
The Bank does not conduct a financial and economic analysis of the Borrower, as well as a visit to the place of business. It is necessary to provide photos of the place of business.
Requirements for the borrower (participants, shareholders, beneficial owner of the legal entity)
Credit history:
Absence of classification and/or the sum of days of overdue liabilities during the last 12 months shall not exceed 15 days.
Absence of current overdue liabilities.
Age of the Borrower and/or Guarantor who is an individual entrepreneur: 18-65 years old. In the event that all participants/founders/shareholders of the Borrower, who is a legal entity, are over the age of 18-65, then at least 1 guarantor in the 18-65 age group is required.
In case of a loan:
Annuity /equal monthly payment of principal and interest/
Differentiated /equal monthly payment of principal and interest/
Individual payment schedule depending on the specifics of the business
In case of a credit line:
Monthly payment of interest, and the principal at the end of the term, or
Individual payment schedule depending on the specifics of the business
In case of a non-recoverable credit line, principal repayments are set at least from the 36th month.
Repayment method according to the customer's choice and approval of the Bank.
INTERMEDIATE FEES, PENALTIES AND FINES
Not defined
0.1% daily
0.13% daily
Penalty for early repayment of the loan
5% of the amount repaid early
Applicable to loans with a contractual amount exceeding 5,000,000 or equivalent in foreign currency
Penalty for early reduction of the credit line agreement limit or termination of the agreement
In the event of a limit reduction: 5% of the reduction amount.
In the event of early termination of the agreement: 5% of the current limit.
Applicable to loans with a contract amount exceeding AMD 5,000,000 or the equivalent in foreign currency.
COLLATERAL
Real estate
Loan to Value (LTV) Ratio
The loan-to-value ratio is set at a maximum of 85%
The calculation of the loan-to-value ratio, as well as additional information related to the collateral, is set in accordance with Appendix 1.
Collateral valuation
The collateral is subject to assessment by an independent property appraisal agency cooperating with "Fast Bank" CJSC.
Collateral-Related Costs
Carried out by the Customer
Other Collateral-Related Terms
At the stage of consideration of the loan application, if the term of issuance of the certificate of ownership of the collateral is less than 12 months, the Bank may request the grounds for the acquisition of the property.
Deadline for making a decision
After submitting the required documents, a decision on the loan application is made within 2 business days.
Timeframe for notification of the decision
Up to 1 business day after the decision is made
Deadline for notification of decision
Up to 3 business days after submitting all the required documents and state registration of collateral rights
Maximum validity period of the decision
30 business days
In addition, the Bank has the right to refuse to provide a loan if any of the conditions considered essential for making a positive decision on providing a loan have changed
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.