Credit limit

Over AMD or other currency equivalent of USD 1,500,000

Term

Up to 3 years

Term for lines of credit intended to finance property, plant and equipment 

Up to 5 years

Limit reduction

According to the schedule or at the end of the maturity period

Annual interest rate on utilized amount*

For lines of credit in AMD from 12 %

For lines of credit in USD  from 9 %

For lines of credit in EUR from 8 %

 from 4% if without confirmation, from 6% if with confirmation by other banks.

In case of discounting under LCs from 9%

The interest rate for lines of credit in other currencies is determined by the Management Board

In case of cash collateral: % of deposit (time or demand) + 4%, if the line of credit and the deposit are in the same currency % of deposit (time or demand) + 5%, if the line of credit and the deposit are in different currencies

Annual interest rate for non-utilized amounts

Up to 2 %

Loan provision fee **

Up to 1 year lines of credit: 0-0.5% of credit limit

1-2 year lines of credit: 0-0.7% of credit limit

Over 2 year lines of credit: 0-1.5% of credit limit

Lines of credit secured by cash collateral: 0% 

Late payment fee***

Fine in the amount of 0.13% of overdue loan/interest for each day beyond terms 

Line of credit repayment

As per schedule or at the end of term (monthly, quarterly, semi-annually or otherwise as defined under loan agreement)

Early repayment

Where envisaged under the loan agreement in the amount of up to 6-month interest on early repaid sums

Line of credit security

 cash, T-bills, standard gold bars, bonds issued by Ameriabank, property and equipment, guarantees, warranties and other securities cash flows, current assets or mixed collateral, Real estate****

Loan-to-value (LTV) ratio*****

Max 100%, if the currency of loan is the same as that of collateral or, if different, it is included in SDR basket, and max 95%, if the currency of loan is different from that of collateral, except for currencies included in SDR basket

a) Up to 80% of appraised value of collateral (in case of real estate) for loans with up to 96-month term; 90% if the debt service coverage ratio of the borrower is 1.5 or higher; up to 70% if the loan term exceeds 96 months

b) Up to 50 % of appraised value of collateral in case of movable property; 60% if the debt service coverage ratio of the borrower is 1.5 or higher and the loan term does not exceed 96 months up to 80% for the movable property which is going to be purchased or has been purchased during the last six

months, starting from the loan application submission date, where the loan term does not exceed 96 months

c) Up to 30 % of appraised value of collateral in case of inventories (finished goods, raw materials, etc.). Note that the share of this kind of collateral cannot exceed 40% of total pledge.

d) max 50% of average monthly bank account turnover for the most recent period from 6 (min) to 12 (max) months, for cash flows

e) for shares:

- up to 80% of appraised value of collateral in case of running business

- up to 60% of appraised value of collateral in case of business not yet running (project-based loans)

Pledge insurance

To the extent of credit limit, on annual basis

The insurance of the pledged real estate is to be obtained only if it is or will be used for business purposes

Application handling period

up to 5-15 business days upon receipt of the complete set of documents

Subject to extension for not more than 10 business days based on review

Validity period (period during which the decision on line of credit approval is effective)

30 days, unless otherwise specified by authorized body’s decision

Re-approval of line of credit

Upon expiry of approval validity period, but not later than 60 days after the initial approval date

Form of disbursement

Wire transfer to bank account

Loan modification application fee******

AMD 500 000