Target group

Bank customer legal entities and individual entrepreneurs, engaged in continuous business for the past 6 months

Loan type

Loan

Loan currency

AMD, USD

General agreement amount

Up to 60% of the liquidity value of the pledged object(s);

Up to 85% - if the collateral is money or the right of a monetary claim. Loan and collateral are determined in the same currency.

General agreement period

Up to 120 (One hundred and twenty) months.

Minimum and maximum loan amount(s) provided to a single borrower and affiliated persons

From AMD 400'000 to AMD 8'000'000  or

 USD 1'000 to USD 20'000 for branches: "Tigran Mets", "Nalbandyan", "Kentronakan", "Kanaker" and "Gyumri",

From AMD 400'000 to AMD 4'000'000  or

USD 1'000 to USD 10'000 for branches: "Vanadzor", "Artik", "Hrazdan", "Echmiadzin", "Martuni", "Armavir", "Abovyan",  "Artashat" and "Charents"

Loan period

Up to 36 months for loans in AMD

Up to 48 months for loans in USD

Annual interest rate

15% for loans in AMD  

13% for loans in USD

Interest accrues on the balance of the loan amount (current year - 365 days). 

Loan purpose

Replenishment of working capital, purchase of fixed assets, construction, renovation and payment of credit debt from current operations.

The loan amount is not intended to repay loans and credits.  

Loan and credit account service fee

At 0.5% of the loan amount 

(charged at the time of the loan)

Repayment order 

Equal monthly installments (annuity).

 Loan coverage

- Real estate, vehicles, machinery (fixed assets) and the right for monetary claim;  

- The cost of land, vehicles and machinery (fixed assets) should not exceed 30% of the total liquidity value of the collateral;

- Guarantee of individuals (participants, shareholders, members) having a share capital of the company by 10% or more.

Requirements to pledger

If the pledger is an individual person, his age at the time of loan shall not exceed 65 years.

Collateral appraisal

- Appraisal of pledged real estate is carried out by persons authorized by the State Real Property Cadastre Committee under the RA Government;

- Appraisal of vehicles and machinery (fixed assets) is carried out by the Evaluation Committee of the Branch or persons authorized by the State Real Property Cadastre Committee under the RA Government;

- All expenses for appraisal, verification and registration of a pledge agreement are made by the borrower (pledger).

Insurance

Pledged vehicles and machinery (fixed assets) are subject to insurance for the total amount of the insured property during the loan period.  

Penalties for overdue loan amount or interest

-  Penalty for overdue principal amount - 0.1 % per day;

-  Penalty for overdue interest - 0.2 % per day;

In case of delay or default of the loan amount or interest, the collateral is subject to foreclosure.