Terms
tariffs
Armenian resident — Legal entity or 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
AMD 2,000,000 – 100,000,000
USD 5,000 – 250,000
AMD
USD
12–84 months
12–84 months
Loan: 13.75%
Credit Line: 14.25%
Loan: 11.5%
Credit Line: 12%
0.5%
Loan: 14.05–14.55%
Credit Line: 14.59–15.11%
Loan: 11.63–12.05%
Credit Line: 12.16–12.62%
0–24 months, depending on the business characteristics
The Bank does not conduct analysis of the Borrower’s financial condition or visit the Borrower’s place of operation.
Credit history:
No classification defaults in the last 12 months and/or the total days of overdue obligations must not exceed 30 days.
No current overdue obligations.
Individual entrepreneurs must be aged 18–65.
For Loans:
Annuity / equal monthly payment of principal and interest
Differentiated / equal monthly payment of principal and monthly interest payment
Individual repayment schedule, depending on the business characteristics
For Credit Lines:
Monthly interest payment
Principal repayment at the end of the term or according to an individual repayment schedule, depending on the business characteristics
Repayment method is chosen by the client.
Not applicable
0.1% per day
0.13% per day
5% of the prepaid amount
Applicable for loans with a contractual amount of AMD 5,000,000 or equivalent and above.
Reduction: 5% of the reduced amount
Termination: 5% of the active credit line
Applicable for credit lines with a contractual amount of AMD 5,000,000 or equivalent and above.
Only real estate
Maximum 60% of the appraised market value
Collateral is subject to valuation by an independent appraisal agency cooperating with Fast Bank CJSC and/or by Bank staff, depending on the loan amount.
Valuation by Bank staff is free of charge
Paid by the Client
If the ownership certificate for the pledged property is issued less than 12 months prior to the loan application review, the Bank may request proof of acquisition during the application review.
Within 2 business days after submission of required documents
Within 1 business day after decision
Within 1 business day after submission of all required documents and state registration of collateral rights
Maximum 30 business days
The Bank reserves the right to reject the loan if any essential conditions for granting the 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/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.