Terms
tariffs
Resident legal entity of the Republic of Armenia, individual entrepreneur
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, Credit Line
2,000,000 – 100,000,000 AMD
5,000 – 250,000 USD
AMD
USD
12–84 months
12–84 months
Annual nominal interest rate on the loan / interest rate on the utilized portion of the credit line
Loan: 13.75%
Credit Line: 14%
Loan: 11.5%
Credit Line: 12%
Annual actual interest rate of the loan
Loan: 14.67-18.16%,
Credit Line: 14.6-23.66%
Loan: 12.15-15.63%,
Credit Line: 12.70-21.19%
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.
Interest rate on the unused portion of the credit line
0.5%
Interest on the unused portion of the card credit line
0%
Grace period for principal repayment
0–24 months, depending on the specifics of the business.
Analysis of the borrower's financial condition
The Bank does not conduct a financial and economic analysis of the Borrower, nor does it visit the Borrower's place of business. Photographs of the business premises must be provided.
Requirements for the borrower (participants/shareholders of a legal entity, ultimate beneficial owner)
Credit history:
There must be no classification status (adverse classification) within the last 12 months, and/or the total number of days of past-due obligations must not exceed 30 days.
Absence of outstanding past-due obligations.
Age of the Borrower (individual entrepreneur): 18–65 years.
For loans:
Annuity (equal monthly payments covering both principal and interest)
Differentiated (equal monthly principal payments plus monthly interest payments)
Customized repayment schedule based on business specifics.
For credit lines:
Monthly interest payments
Principal repayment at the end of the term or a customized repayment schedule based on business specifics.
Repayment method: at the customer's discretion.
COMMISSIONS, PENALTIES, AND FINES
Not applicable
0.1% per day
0.13% per day
At a rate of 5% of the amount repaid early.
Applicable to loans with a contractual amount exceeding 5,000,000 AMD or the equivalent in foreign currency.
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 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.
MEASURE TO SECURE PERFORMANCE
Real estate only.
Maximum loan-to-collateral value ratio
The collateral value is set at a maximum of 60% of the appraised market value of the collateral.
The calculation of the loan-to-collateral value ratio, as well as additional information regarding the collateral, is defined in accordance with Appendix 1.
Collateral valuation
The collateral is subject to valuation by an independent property valuation agency cooperating with Fast Bank CJSC.
Pledging-related expenses
Other terms related to the pledge:
Other terms related to the pledge
At the time of the loan application review, if the certificate of ownership for the property to be pledged has been issued less than 12 months prior, the Bank may request documentation regarding the grounds for the property's acquisition during the review stage.
Timeframe for the decision on loan approval
A decision regarding the loan application is made within up to 2 working days after the submission of the required documents.
Timeframe for notification of the decision
Up to 1 working day after the decision is made.
Business card terms and tariffs
In accordance with the Bank's applicable tariffs.
Loan disbursement period
Within 1 working day after submitting all required documents and completing the state registration of the right of pledge.
Of the validity of the decision
The decision is valid for 30 working days.
The Bank reserves the right to refuse the loan if any of the conditions deemed essential for the positive loan decision 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.