HERE AND BEYOND
The conditions relating to the credit obligations specified in the announcement as of November 5, 2020, will continue to apply until January 31, 2021
Media Room

Update

 

Further to the announcement as of November 5, 2020, please be informed that the conditions relating to the credit obligations specified in the announcement will continue to apply until January 31, 2021, as follows below.

The credit obligations of our customers from the following groups are subject to review:

  • Citizens of Armenia who have been called up for military service or have taken part (voluntarily or compulsorily) in military operations, provided that reasonable proof of such fact has been made available to the Bank (according to the reference issued by the military commissariat, the Ministry of Defense of the Republic of Armenia, the Union of Yerkrapah Volunteers or any other document that in the Bank opinion is a reasonable proof of participation in military operations) 
  • Citizens injured during military operations provided that reasonable proof of such fact has been made available to the Bank
  • Legal entities and individual entrepreneurs running their business or registered in Artsakh, as well as individuals actually resident in Artsakh, 
  • Other individuals, legal entities and individual entrepreneurs having their center of vital interests in Artsakh .

Please be informed that for the above specified customers accrual of interest, fines, penalties and service fees under loans (including lines of credit, overdraft), consumer finance, lease agreements in the period from September 30, 2020, to December 30, 2020, shall terminate (including agreements signed by individuals qualifying for the conditions specified herein, that signed the agreement with the bank as individual entrepreneurs). In case of customers who participated in military operations (conscripts), accrual shall terminate from the beginning of the month of conscription until December 30, 2020 (inclusive), Moreover, if the fact of conscription or participation in military operations is not confirmed on the basis of a certificate issued by the military commissariat, the Ministry of Defense of Armenia or the Union of Yerkrapah Volunteers, but at the Bank’s judgment the credibility of the information is proved on other grounds, the Bank will terminate only accrual of the fines and penalties under the respective agreements of such citizens payable for the months following the periods during which such clients had overdue obligations.

Accrual of fines and penalties on loans (including lines of credit, overdraft), consumer finance, lease agreements for immediate family members (i.e. father, mother, sibling, child, spouse) of conscripts and the customers who participated in the military operations will terminate.

Customers, as well as immediate family members (i.e, father, mother, sibling, child, spouse) of conscripts and customers who participated in the military operations, who have no overdue liabilities at the time of the review or whose liabilities become overdue only during the current month, will be allowed a deferral of payment obligations under loans (including line of credit, overdraft), consumer finance, lease agreements until January 31, 2021, if the liability payable on the next repayment day of the given month has not been repaid or has been repaid partially. Accordingly, the due date will be extended by the number of months of payment deferral (1-4 months). In case of overdrafts and credit line, the due date will be extended only if it expires. The principal amount unpaid during this period will be redistributed over the remaining repayment period, and the accrued interest will be due on the next repayment date. In cases when the accrual of interest/service fees continues:

In relation to interest accrued before December 31, 2020: 

  • Interest accrued on credit and lease obligations will be redistributed over the 6 months following the deferral period, and if less than 6 months is remaining until the due date, the interest will be distributed over the remaining repayment period. 
  • Payment of the service fees under consumer finance will be due on the last date of the extended repayment schedule.  

In relation to interest accrued after December 31, 2020:

  • Interest accrued on credit and lease obligations will be redistributed over the remaining period following the deferral period. 
  • Payment of the service fees under consumer finance will be due on the last date of the extended repayment schedule.

If the customer has paid interest/service fees or penalties before the proof of their participation in the military operations/conscription becomes available to the Bank, this amount will be either (i) used to repay the loan obligations or (ii) used for early repayment of the loan principal or (iii) returned to the customer.

Please note that revision of loan obligations applies only to loans up to AMD 25 million (or its equivalent in foreign currency). If the amount of your obligations is above the specified threshold, please approach any of Ameriabank branches, in which event each borrower will be treated on a case-by-case basis. 

For additional information, please, call +374 10 561111.

Any actions aimed at the acceptance of this public offer or ensuring that the conditions defined herein are met will be considered acceptance of all the conditions specified in this offer.

Updated 14.01.2021, 10:46
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