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Loan type
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Retail SME credit lines on customs cards (Arca classic)
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Purpose
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Customs payments
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Clients
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Legal entities and individual entrepreneurs with at least 6-month business history
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Exclusion list
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1. Production or trade in any product or activity deemed illegal under the Republic of Armenia laws or regulations or international conventions and agreements
2. Production or trade in weapons and munitions
3. Gambling, casinos and equivalent enterprises
4. Trade in precious stones
5. Currency exchange office
6. Brokerage or bookmaking offices
7. Production, use of or trade in hazardous substances (like radioactive materials) other than pesticides and fertilizers used in agriculture See exclusion list here.
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Creditworthiness assessment*
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According to the approved criteria
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Loan conditions
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Currency
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AMD
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USD
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EUR
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Minimum and maximum loan limit
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• Up to 40% of average monthly cash flows through accounts with Ameriabank during the most recent 6-12 months, within AMD 1,000,000 - 20,000,000 or its equivalent in foreign currency
• The credit limit for the client with at least 3-month cash flow history with Ameriabank shall be based on the net cash flows through the client's accounts with Ameriabank for 3 months and the net turnover with the other banks for at least 3-9 preceding months, within AMD 1,000,000 - 20,000,000, provided that the client transfers his/her accounts turnover with other banks to Ameriabank.
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Term (months)
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12 months
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Annual interest rate
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Grace period applies to loans in USD and EUR. The following interest rates apply to any and all amounts used (i) if liabilities are not repaid in full during the grace period, and (ii) from the first day of utilization in case of AMD denominated loans:
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14.5%
(effective rate: 16.9%)
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11.5%
(effective rate: 13.4%)
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10.0%
(effective rate: 11.8%)
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If the outstanding debt under the loans in USD and EUR is not repaid in full during the month following the grace period, starting from the following month the amounts shall bear an interest of 20%.
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Loan disbursement fee
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1% of the loan amount
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Loan modification application fee
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N/a
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Card terms
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Card issuance
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Free
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Annual service
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AMD 10,000; for clients banking with Ameriabank for over 3 months – free
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Additional card issuance
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Free
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Annual service of additional card
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AMD 5,000
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Card re-issuance (in case of card loss, damage, theft, loss of PIN or its disclosure to third parties)
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AMD 5,000
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Card re-issuance (upon expiry of validity period)
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Free
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Card blocking
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Free
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Card unblocking
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Free
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Cash withdrawal
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N/a
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Electronic transactions at customs terminals
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Free
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Electronic transactions at other merchants
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3%
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Providing account statement or sending it via e-mail
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Free
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Review of card credit limit
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AMD 3,000
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SMS notification
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Free
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Forms of loan repayment
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Grace period
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Last day of the month of withdrawal of money +5 days
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Loan repayment form: without grace period
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Principal payable at the end of term, interest payable monthly; whenever the card account is credited, the interest accrued as of that moment will be charged.
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Loan repayment form: with grace period
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Payment of interest at the end of the term, however, whenever the card account is credited, the interest accrued as of that moment shall be charged.
Principal payable at the end of term.
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Security
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Eligible security
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1. Pledge of cash flows through the account
2. Personal guarantee of the business founder/beneficial owner
3. The Bank may request a guarantee by another individual and/or entity. Furthermore, the source of the guarantor’s income should not depend on the financed business, and there should be no material delays in the guarantor’s credit history (no more than 30 overdue days within the recent 2 years but max 10 consecutive days).
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Loan service fees**
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Modification of the loan terms
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AMD 25,000
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Substitution of pledged property (for real estate; including change of the property owner)
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AMD 20,000
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Substitution of pledged property (for vehicles; including change of the owner of the pledged vehicles)
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AMD 10,000
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Provision of pledge-related consents, permissions and references
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AMD 10,000 (VAT included)
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Change of the loan repayment date
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AMD 10,000
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Other fees payable by client
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1. Fee for the unified statement from the State Committee of the Real Estate Cadaster adjunct to the RA Government; fee for police reference on vehicles encumbrance
2. Notary fee for registration of pledged real estate; fee for state registration of the bank’s security interest under the real estate pledge agreement; Fee for the certificate of registration of the security interest in the vehicle
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Early repayment
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N/a
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Late payment fines and penalties
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The interest rate specified in the loan agreement shall continue to be applied to overdue loans.
Fine in the amount of 0.13 % of overdue loan/interest for each day beyond terms
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