Terms
tariffs
Resident legal entity and sole proprietor of the Republic of Armenia carrying out micro, small and medium size business activities
Refinancing of business loans, credit lines
Refinancing of business loans
AMD
USD
3,000,000-400,000,000 AMD
7,000 -1,000,000 USD
Weighted average nominal interest rate on loans and credit lines refinanced:
-2%, but not less than 13%*
Weighted average nominal interest rate on loans and credit Weighted average nominal interest rate on loans and credit lines refinanced:
-2%, but not less than 9.5%**
13.80-18.37%
9.92-14.92%
None
12-84 months
12-120 months
0-24 months, depending on the specifics of the business
0.5%
0.1% daily
0.13% daily
In the event of full or partial early repayment of the loan during the first 3 years of the loan term, 3% of the early repaid amount is charged, however, no charges are applied to early repayment of up to 20% of the contractual amount paid lump sum or in portions.
*** Applicable to loans/credit lines with a contractual amount exceeding 100,000,000 or its equivalent in a foreign currency.
√ Annuity (equal monthly payment of principal and interest)
√ Differentiated (equal monthly payment of principal amount and monthly payment of interest)
√ Individual repayment schedule
Repayment method: based on the client's preference
Real estate and/or movable property,
Guarantee(s) (personal guarantees of the founders and beneficial owners of the business are mandatory) ****
Other collateral may be provided by the decision of the Credit Committee.
In the case of a vehicle pledge, the production date shall not exceed:
5 years for Russian-made vehicles,
10 years for vehicles produced in other countries.
**** A loan/credit line of up to AMD 10,000,000 or USD 25,000 may be extended upon guarantees provided by two persons, as deemed acceptable by the Bank.
A maximum of 70% of the market value of the collateral
! The car is subject to compulsory "Casco" insurance (against physical damage and car theft) in favor of the Organization, at least in the amount of the Loan and for the entire Loan period, subject to insurance agreement renewal.
The insurance is done by the client.
The pledged real estate is not subject to insurance.
The collateral is subject to appraisal by an independent valuation agency cooperating with the Organization and/or an employee of the Organization, depending on the loan amount.
Property valuation is performed free of charge by the Organization's employee.
Guarantee provided by an individual (aged 18-65) or sole proprietor who has no current overdue obligations.
√The total number of overdue days per each guarantor in the last year shall not exceed 30 days.
√At least one of the guarantors must own a real estate or be a registered employee.
* 13.5%, in case of providing refinancing in AMD for foreign currency loans and credit lines, including those concurrently in different currencies (including in AMD).
** 10%, in case of providing refinancing in USD for loans and credit lines in AMD, including those concurrently in different currencies (including in foreign currency).