Collateral-Secured Loans, AMD 30-150 Million
Նախորդ տարբերակին անցում կատարելու համար սեղմել   այստեղ

Collateral-Secured Loans AMD 30-150 Million

For businesses with up to AMD 750M annual turnover

Business loan/overdraft, AMD 30-150 million or its equivalent in other currency, collateral-secured.

This loan is designed to help you purchase property and working assets or make other investments for your business. You can also use this loan to transfer your loans from other banks or credit organizations to Ameriabank.

  • Apply online
  • Upload files and track your application online
  • If you meet the Bank's criteria, our specialist will get in touch with you within 1 business day after you apply.

Types of secured loans

1. Collateral-secured business loan
2. Collateral-secured business overdraft
3. Agricultural loan
4. Loan for purchase of solar power systems

Term

12 - 120 months

Amount

AMD 30-150 million

Ready to apply for a loan?

FAQ

Can I apply for a loan without visiting the Bank?

Yes, you can use the Bank's website to apply online for any business loan. Our specialists will get in touch with you. You can also use the online platform to track your application.

Can I get loan approval online without visiting the Bank?

Yes, you can get your approval online if your loan is within AMD 15 million. If you have an account with Ameriabank and a valid ID card, you can also get the money online without having to visit the Bank in person.

Where can I learn about interest rates?

Information about interest rates is available on Ameriabank's official website: go to menu and select the item you are interested in from “Loans”. For more information feel free to call us at +37410 56 11 11 or visit the nearest branch office. Find our locations and learn about work hours here.

Can I get a loan, if I already have an outstanding business loan in another bank?

To provide a loan, the Bank performs creditworthiness analysis. Loans in other banks are not a deal-breaker, if your general creditworthiness ratios meet our criteria.

You can also consolidate your loans in other banks by transferring them to Ameriabank. If your loans are within AMD 30 million, you can have them transferred to and refinanced by Ameriabank automatically, without having to visit other banks for formalities.

What documents do I need to apply for a loan?

To apply for a loan online, you need to provide certain basic data about your business (TIN, ID). Depending on the type of loan you choose, other documents or information might be required at further stages, which you can upload on our webpage without having to visit the Bank in person.

Can I transfer loans from other banks to Ameriabank?

Yes, you can consolidate your loans in other banks by transferring them to Ameriabank. Loans within AMD 30 million can be transferred to and refinanced by Ameriabank automatically, no need to visit other banks for formalities.

Are there any restrictions as to which industry you have to work in in order to get a loan?

Yes, Ameriabank does not finance the following industries:

  • Production or trade in any product or activity deemed illegal under the Republic of Armenia laws or regulations or international conventions and agreements
  • Production or trade in weapons and munitions
  • Gambling, casinos and equivalent enterprises
  • Trade in precious stones
  • Currency exchange business
  • Brokerage or bookmaking offices
  • Production, use of or trade in hazardous substances (like radioactive materials) other than pesticides and fertilizers used in agriculture

How to apply

 Retail SME loans secured by assets

 

Loan type

 Retail SME loans secured by assets

 

Purpose 1

Business expansion; financing of current operations and other investments; transfer of outstanding business loans with other banks and credit organizations to Ameriabank CJSC    

 

Clients

Legal entities and individual entrepreneurs with at least 6-month business history

 

Sectoral restrictions

According to the Exclusion List

 

Creditworthiness assessment 2

According to the approved criteria

Loan terms

Minimum and maximum loan limit

  AMD 3 million - 150 million or its equivalent in foreign currency

Currency

AMD

USD

EUR

Term (months)

12-36 (with a 1-6 months grace period)

Standard fixed annual rate 3

12.5%
(APR: 14.1-21.9%)

9.5%
(APR: 10.7-18.2%)

8.0%
(APR: 8.6-16.5%)

Term (months)

37-60 (with a 1-6 months grace period)

Standard fixed annual rate 3

13.5%
(APR: 14.9-17.4%)

10.5%
(APR: 11.5-13.9%)

9.0%
(APR: 9.9-12.2%)

Standard adjustable annual rate (rate can be changed starting from the 13th month) 3

Fixed component 4.0% +variable component (base rate)
(APR: 12.6-15.1%)

Fixed component 8.0% + variable component (base rate)
(APR: 10.4-12.8%) 

Fixed component 7% + variable component (base rate)
(APR: 8.2-10.6%) 

Term (months)

61-120 (with a 1-6 months grace period)
 (doesn’t apply to the purchase of working assets)

Standard fixed annual rate 3

N/a

11.5%
(APR: 12.4-14%)

10.0%
(APR: 10.7-12.3%)

Standard adjustable annual rate (rate can be changed starting from the 37th month) 3

Fixed component 5.0% + variable component (base rate)
(APR: 13.5-15.2%)

Fixed component 9.0% + variable component (base rate)
(APR: 11.3-12.9%)  

Fixed component 8.0% + variable component (base rate)
(APR: 9.1-10.6%)  

Business mortgage for purchase or construction of business premises or transfer of a business mortgage loan

Term (months)

6-60 (with a 1-6 months grace period)

Standard fixed annual rate

12.5%
(APR: 13.3-15.4%)

10.5%
(APR: 11.1-13.4%)

8.5%
(APR: 8.9-10.8%)

Term (months)

61-240 (with a 1-6 months grace period)

Standard adjustable annual rate (rate can be changed starting from the 37th month)

Fixed component 5.0% + variable component (base rate)
(APR: 13.3-15.4%)

Fixed component 9.0% + variable component (base rate)
(APR: 11.0-13.4%)  

Fixed component 8.0% + variable component (base rate)
(APR: 8.8-10.7%)  

Minimum down payment

 At least 5% of appraised market value of the real estate.

Where the real estate being acquired is registered in the name of the legal entity or the private entrepreneur, the borrower should provide additional 5% down payment or additional collateral so that the LTV ratio does not exceed 90%.

Eligible collateral

1. The loan is secured by the real estate being purchased. The Bank may consider as additional security pledge of other real estate to the reasonable satisfaction of the Bank, as well as cash in Ameriabank or bonds issued by Ameriabank.

2. If the borrower wishes to purchase property under construction without registered certificate of title, the loan will be secured by other Armenia-based real estate to the reasonable satisfaction of the Bank.

3. If the borrower wishes to purchase property abroad, the loan will be secured by Armenia-based real estate to the reasonable satisfaction of the bank.                                                                                                                        4. Other information on the eligible collateral is presented in the “Security” section of these tariffs.

Standard annual interest rate under GAF SME support program

Term (months)

6-60 (with a 1-6 months grace period)

Standard fixed annual rate

 10%-11%
(APR: 11-14.9%)

N/a

N/a

Term (months)

61-120 (with a 1-6 months grace period)
 (doesn’t apply to the purchase of working assets)

Standard adjustable annual rate (rate can be changed starting from the 61st month)

Fixed component 3.5% + variable component (base rate)
(APR: 11.6-12.4%)

N/a

N/a

Standard annual interest rate under the EBRD’s Loan Financing for MSME  Program

Term (months)

12-48 months

Standard fixed annual rate

11.5%
(APR: 12.8-19.9%)

8.0%
(APR: 8.9-15.8%)

6.5%
(APR: 7.3-14.1%)

Term (months)

49-96 months

Standard adjustable annual rate (rate can be changed starting from the 49th month)

Fixed component 4.5% + variable component (base rate)
(APR: 13.0-14.8%)

Fixed component 8.5% + variable component (base rate)
(APR: 9.7-11.4%)

Fixed component 7.5% + variable component (base rate)
(APR: 8.1-9.7%)

Standard annual interest rate under the SME Competitiveness Support Program in the Eastern Partnership (with a cashback)

Term (months)

12-48 months

Standard fixed annual rate

11.5%
(APR: 0-8.5%)

8.0%
(APR: 0-4.9%)

6.5%
(APR: 0-3.4%)

Term (months)

49-96 months

Standard adjustable annual rate (rate can be changed starting from the 49th month)

Fixed component 4.5% + variable component (base rate)
(APR: 0-10.6%)

Fixed component 8.5% + variable component (base rate)
(APR: 0-7.5%)

Fixed component 7.5% + variable component (base rate)
(APR: 0-5.9%)

Standard annual interest rate under the EBRD’s Women in Business Program

Term (months)

12-48 months

Standard fixed annual rate

11.5%
(APR: 12.8-19.9%)

7.5%
(APR: 8.4-15.2%)

6.0%
(APR: 6.7-13.5%)

Term (months)

49-96 months

Standard adjustable annual rate (rate can be changed starting from the 49th month)

Fixed component 4.25% + variable component (base rate)
(APR: 12.8-14.5%)

Fixed component 8.0% + variable component (base rate)
(APR: 9.2-10.8%)

Fixed component 7.0% + variable component (base rate)
(APR: 7.2-9.2%)

Standard annual interest rate in case of finance for purchase of solar panels and water heating systems

Term (months)

 6-120 months (with a 1-6 months grace period)

Fixed rate on internal resources

12% (APR: 12.8-16.3%)

8% (APR: 8.4-11.8%)

7% (APR: 7.3-10.7%)

 Standard fixed annual rate under GAF “Development of the Renewable Energies” program

  8.5%-9.5%
(APR: 8.5-10.0%)

N/a

N/a

Term (months)

12-48 months (with a 1-6 months grace period)

Fixed interest rate in case of financing of projects with cashback option

11.5%
(APR: 0-8.5%)

8.0%
(APR: 0-4.9%)

6.5%
(APR: 0-3.4%)

Term (months)

49-96 months (with a 1-6 months grace period)

Standard adjustable annual rate (rate can be changed starting from the 49th month) in case of financing with a cashback option (EBRD)

Fixed component 4.5% + variable component (base rate)
(APR: 0-10.6%)

Fixed component 8.5% + variable component (base rate)
(APR: 0-7.5%)

Fixed component 7.5% + variable component (base rate)
(APR: 0-5.9%)

Standard annual rate on the loans financed under GAF “Energy Efficiency for SMEs” program 4

Term (months)

6-84 (with a 1-6 months grace period)

Standard fixed annual rate

 8.5%-10.0%
(APR: 9.0%-10.75%)

N/a

N/a

Standard annual interest rate under GAF SME Finance (tourism, agriculture, agricultural processing, export oriented and manufacturing industries) program

Term (months)

 6-90 months (with a 1-30 months grace period)

Standard fixed annual rate

 9.0%-9.5%
(APR: 9.0%-9.5%)

N/a

N/a

Standard annual interest rate on the loans for procurement of agricultural raw materials (in accordance with the requirements of the respective program of the Armenian Government) 

Term (months)

 6-18 months (with an up to 6-month grace period),
In case of loans for procurement of grapes: 6-36 months, with an up to 12-month grace period

Standard fixed annual rate

12.0% (with a possibility of full or partial subsidy)
(APR: 12.8-23.2%)

N/a

N/a

Standard annual interest rate on the loans for establishment of vineyards, intensive orchards and berry plantations (in accordance with the requirements of the respective program of the Armenian Government) 

Term (months)

 6-96 months (with an up to 60-month grace period)

Standard fixed annual rate

12%-13.0% (with a possibility of full or partial subsidy)
(APR: 12.7-14%)

N/a

N/a

Standard annual interest rate on the loans for purchase of pedigree cattle to promote cattle-breeding (in accordance with the requirements of the respective program of the Armenian Government) 

Term (months)

 6-60 months (with an up to 12-month grace period)

Standard fixed annual rate

12% (with a possibility of full or partial subsidy)
(APR: 12.7-23.2%)

N/a

N/a

Standard annual interest rate on the loans for the development of sheep and goat farming (in accordance with the requirements of the respective program of the Armenian Government) 

Term (months)

 6-48 months (with an up to 12-month grace period)

Standard fixed annual rate

12% (with a possibility of full or partial subsidy)
(APR: 12.7-23.2%)

N/a

N/a

Loans3 issued out of other program resources 5

8.5%-15.0%
(APR: 8.9%-21.4%)

5.5%-12.0%
(APR: 5.6%-17.7%)

4.0%-11.0%
(APR: 4.1%-16.5%)

Other terms related to the interest rate

If the loan is secured by cash or bonds issued by Ameriabank, the interest rate is:
- Applicable interest rate for cash/bond + 4%, but in any case not more than the rates specified above, if the loan and the collateral are in the same currency
- Rates specified above, if the loan and the collateral are in different currencies

Where insurance of the collateral is obtained by the bank at the with of the client, the rate of interest is increased pro rata the share of each type of the collateral in the total value of the collateral by:
• 2.5% if the pledge is vehicle, or
• 0.5% if the pledge is plant and equipment.

- In case of financing for purchase of solar panels and water heating systems, the insurance related costs are included in the loan interest rate.  
Where the insurance of real estate is obtained by the client, the interest rate is reduced by 0.05%, based on the share of each type of assets in the total collateral.

If the LTV ratio differs from the ratio specified herein, the interest rate is increased by 0.25%.

If the creditworthiness ratios differ from the ratios approved by the internal regulations of the Bank (DSCR), the applicable interest rate is increased by 0.25%.

In case of other deviations, the applicable interest rate may be increased by 0.25%.

If repayment schedule is differentiated or mixed, the applicable interest rate is increased by 0.5%.                                                                                                                                

 

If the client prefers a lending option without early repayment fee, the applicable interest rate is increased by 2%.

Loan disbursement fee

1% of the loan amount
• Does not apply to (i) the loans for procurement of agricultural raw materials,
(ii) loans for establishment of vineyards, intensive orchards and berry plantations with modern technologies,
(iii) loans for purchase of pedigree cattle,
(iv) loans for the development of sheep and goat farming,
(v) business mortgage, and
(vi) loans secured by cash collateral at Ameriabank and/or bonds issued by Ameriabank.
• In case of financing of purchase of solar panels and water heating systems, as well as GAF “Energy Efficiency for SMEs” program, the loan disbursement fee is 0.5-1% of the loan amount or AMD 500,000, whichever is greater
•  0-1% in case of financing under GAF SME Finance (tourism, agriculture, agricultural processing, export oriented and manufacturing industries) program

Loan cashing fee

Not applicable in case of AMD withdrawals from the borrower's account
0,5% of the amount withdrawn in case of foreign currency withdrawals

In case of business mortgage or loans for procurement of agricultural raw materials where the amount is transferred to the bank accounts with Ameriabank CJSC for the purchase of real estate or agricultural products, the cash withdrawal fee is not charged.

Forms of loan repayment

Repayment

Annuity (equal monthly installments consisting of a portion of loan and a portion of interest)

Differentiated (decreasing installments)
(monthly repayment of equal portions of principal amount while interest accrues to outstanding loan and decreases each month)

Mixed
(The client may choose a preferable repayment schedule based on business seasonality, but the installment of the loan principal repaid during 1 year shall be equal to at least 15% of the loan principal specified in the agreement. Interest is payable on monthly basis)

Security

Eligible collateral

Real estate 6, vehicles, plant and equipment to the reasonable satisfaction of the bank, metal accounts in gold, cash and bonds issued by Ameriabank

LTV ratio (based on the liquidation value)

The value of the loan security is included in the estimation of the LTV ratio in an amount not more than:
1. Real estate: up to 100% In case of business mortgage, the value of the collateral is calculated as 100% of the lower of the two: appraised liquidation value or purchase price of the property.       
2. Up to 50% if the loan is secured by vehicles
3. 40%, but not more than 30% of total collateral, if the loan is secured by property, plant and equipment (this does not apply to financing for purchase of solar panels and water heating systems in which case 100% of the project value is included irrespective of the share in the total collateral)
4. 80% if the loan is secured by metal accounts in gold with Ameriabank
5. If the loan is secured by cash/bonds issued by Ameriabank:
-90% if currency of the collateral is the same as of the loan
-70% if currencies of the collateral and the loan are different
(In case of the EBRD’s Women in Business Program, the LTV ratio is +5% to the specified values)

Location of real estate to be pledged

 Armenia/Artsakh

Age of vehicles to be pledged

Max 12 years for foreign brand vehicles other than vehicles made in Russia, China and Iran, in which case max age is 8 years

Property appraisal

Pledged assets to be appraised by an appraising partner of the bank.

Additional security

Individual guarantees by founders and beneficial owners of businesses are a required condition. The Bank may request guarantees by other individuals and/or companies as additional security.

 

Insurance of property

The insurance of the pledged real estate is to be obtained only if it is or will be used for business purposes.
The insurance of real estate, vehicles and plant and equipment is maintained throughout the loan term:
1. If by the Client: at least for the amount of the outstanding principal/credit limit
2. If obtained by the Bank: to the extent of the outstanding principal/credit limit.
• In case of financing for purchase of solar panels and water heating systems, the insurance should be obtained within 10 days upon installation of power plants/water heating systems.   
The following vehicles are not subject to insurance:
• Vehicles transporting hazardous materials (toxic substances, chemicals, radioactive and explosive  materials)
• Vehicles to be used in races, test drives; vehicles which have three wheels, snow removers, motorcycles, special purpose vehicles
• Taxis and rental cars                                                                                                                                                              

Loan service fees 7

Modification of the loan terms

AMD 25,000

Substitution of pledged property (for real estate; including change of the property owner)  

AMD 20,000

Substitution of pledged property (for vehicles; including change of the owner of the pledged vehicles)

AMD 10,000

Provision of pledge-related consents, permissions and references

AMD 10,000 (VAT included)

Change of the loan repayment date

AMD 10,000

 

Other fees payable by client

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

Early repayment

5% of prepaid amount, chargeable if early repayment of the whole or part of loan is made during the first 3 years of loan term, however it is not applicable if the lump-sum or total amount of the prepaid loan is up to 20% of the contractual amount.
Does not apply to (i) the loans for procurement of agricultural raw materials,
(ii) loans for establishment of vineyards, intensive orchards and berry plantations with modern technologies,
(iii) loans for purchase of pedigree cattle,
(iv) loans for the development of sheep and goat farming, and
(v) loans secured by cash collateral at Ameriabank and/or bonds issued by Ameriabank.
In case of early repayment of the loan, whether in full or in part, the fee will not be charged if such loan is prepaid out of the loan proceeds provided by Ameriabank CJSC to the borrower for that particular purpose.
In case of loans in the amount of up to AMD 5 million or its equivalent in foreign currency, any early repayment fines, fees, increase of rates or any other means affecting the borrower’s condition are not applied.

 

Late payment fines and penalties

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 of delay

 

Down payment in case of financing for purchase of solar panels and water heating systems

5% min, but if the borrower and the vendor sign a buyback or debt waiver agreement, there is no down payment.

 

Loan disbursement tranches in case of finance for purchase of solar panels and water heating systems

The loan can be disbursed in tranches where the share of each tranche is determined in accordance with the cooperation agreement with the vendor, provided that the share of the last tranche is at least 20% of the loan principal and is provided after insurance of the solar facilities.

1 Unless otherwise specified in the Loan Agreement, the loan proceeds should be used for their intended purpose during no more than 3 months. In case of tranche loans, the amount of each tranche will be disbursed during no more than 3 months following the previous disbursement, after checking if the loan proceeds are used for their intended purpose.

2 No creditworthiness ratios are calculated and no business analysis and proof of income are required for loans secured by cash and metal accounts in gold.

3 Depending on the creditworthiness of the borrower, term of loan and LTV ratio, a higher or lower interest rate is applied in accordance with annex 1 forming an integral part of these terms. 

4 Total cost of the specified energy efficient investments and associated works should comprise at least 70% of the loan principal. Up to 30% may be invested into other fixed assets of the borrower. The loans for this purpose are financed under GAF “Energy Efficiency for SMEs” program.

5 The list of resources, their value and margin are determined by the Financial and Operational Department.

6 Geodetic measurement is required for any land other than fenced plots or grounds attached to house, if:

- Client has applied for a loan above AMD 50 million, and

- Share of credit limit to be secured by such land plot exceeds 30% of total available credit limit.  For the purposes of this document total available credit limit means the sum of all loan proceeds made available to client by decision of the bank’s authorized body within acceptable LTV ratio and subject to disbursement at the given moment.

7 The fee is charged if the modification is requested by the client. Where there are several applicable fees for the same modification, the highest fee is charged and only once. Fees are not applicable in case of loans secured by cash, bonds and metal accounts. If the modification implies adding new collateral or involving a new guarantor, no fee is charged. These fees do not apply to loans to agro-processing industry.

 

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Credit lines (overdraft) secured by assets

 

Loan type

Retail SME credit lines (overdraft) secured by assets*

 

Purpose

Purchase of working and fixed assets; other investments; transfer of outstanding business loans with other banks/credit organizations to Ameriabank CJSC                 

 

Clients

Legal entities and individual entrepreneurs with at least 6-month business history

 

Exclusion list

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

 

Creditworthiness assessment**

According to the approved criteria

Loan conditions

Minimum and maximum loan limit

AMD 3 - 150 million or its equivalent in foreign currency

Currency

AMD

USD

EUR

Term (months)

12-36 months

Annual interest rate (fixed)*****

13.5%
(effective rate: 15.2-16.6%)

10.5%
(effective rate: 11.8-13.1%)

9%
(effective rate: 10.1-11.5%)

Term (months)

37-60 months

Annual interest rate (fixed)*****

14.5%
(effective rate: 15.7-16.3%)

11.5%
(effective rate: 12.6-12.9%)

10.5%
(effective rate: 10.9-11.2%)

Loans***** issued out of other program resources******

8.5%-15.0%
(effective rate: 8.9%-21.4%)

5.5%-12.0%
(effective rate: 5.6%-17.7%)

4.0%-11.0%
(effective rate: 4.1%-16.5%)

Annual interest rate on non-utilized amounts

Up to 3 %

Other terms related to interest rate

If the loan is secured by cash or bonds issued by Ameriabank, the interest rate is:
- Applicable interest rate for cash/bond + 4%, but in any case not more than the rates specified above, if the loan and the collateral are in the same currency
- Rates specified above, if the loan and the collateral are in different currencies

Where the client wishes that insurance of property should be obtained by the bank, the rate of interest is increased by:
• 2.5% if the pledge is vehicle, or
• 0.5% if the pledge is plant and equipment.

- In case of financing for purchase of solar power plants and water heating systems, the insurance related costs are included in the loan interest rate.  
Where the insurance of real estate is obtained by the client, the interest rate is reduced by 0.05%, based on the share of each type of assets in the total collateral.

If loan-to-value ratio differs from approved standard, the applicable interest rate is increased by 0.5%.

Depending on credit history, the applicable interest rate can be increased by 0.5%.

Loan disbursement fee

1% of loan amount

Loan cashing

As per the tariffs of the bank effective at each particular time

 

Repayment

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

Security

Eligible security

Real estate***, vehicles, plant and equipment to the reasonable satisfaction of the bank, metal accounts in gold, cash and bonds issued by Ameriabank

LTV ratio (based on the liquidation value)

The value of the loan security is included in the estimation of the LTV ratio in an amount not more than:
1. Up to 100% if the loan is secured by real estate¹
2. 50% if the loan is secured by a vehicle
3. 40% if the loan is secured by property, plant and equipment but not more than 30% of the value of aggregate pledge
4. 80% if the loan is secured by metal accounts in gold with Ameriabank:
5. If the loan is secured by cash/bonds issued by Ameriabank:
-90% if currency of the collateral is the same as of the loan
-70% if currencies of the collateral and the loan are different

Location of real estate to be pledged

Armenia/Nagorno Karabakh

Age of vehicles to be pledged

Max 12 years for foreign brand vehicles other than vehicles made in Russia, China and Iran, in which case max age is 8 years

Property appraisal

Pledged assets to be appraised by an appraising partner of the bank.

Additional security

Individual guarantees by founders/beneficial owners of businesses are a required condition. The Bank may request guarantees by other individuals and/or companies as additional security.

 

Insurance of property

The insurance of the pledged real estate is to be obtained only if it is or will be used for business purposes.
The insurance of real estate, vehicles and plant and equipment is maintained throughout the loan term:
1. If by the Client: at least for the amount of the outstanding principal/credit limit
2. If obtained by the bank: to the extent of the outstanding principal/credit limit.
The following vehicles are not subject to insurance:
• Vehicles transporting hazardous materials (toxic substances, chemicals, radioactive and explosive  materials)
• Vehicles to be used in races, test drives; vehicles which have three wheels, snow removers, motorcycles, special purpose vehicles
• Taxis and rental cars                

Loan service fees****

Modification of the loan terms

AMD 25,000

Substitution of pledged property (for real estate; including change of the property owner)  

AMD 20,000

Substitution of pledged property (for vehicles; including change of the owner of the pledged vehicles)

AMD 10,000

Provision of pledge-related consents, permissions and references

AMD 10,000 (VAT included)

Change of the loan repayment date

AMD 10,000

 

Other fees payable by client

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

Early repayment

N/a

 

Late payment fines and penalties

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

*This facility can be provided either on a current bank account (overdraft) or on a special credit account (line of credit). **No creditworthiness ratios are calculated and no business analysis and proof of income are required for loans secured by cash and metal accounts in gold. ***Geodetic measurement is required for any land other than fenced plots or grounds attached to house, if: - Client has applied for a loan above AMD 50 million, and - Share of credit limit to be secured by such land plot exceeds 30% of total available credit limit. For the purposes of this document total available credit limit means the sum of all loan proceeds made available to client by decision of the bank’s authorized body within acceptable LTV ratio and subject to disbursement at the given moment. ****The fee is charged if the modification is requested by client. Where there are several applicable fees for the same modification, the highest fee is charged and only once. Fees are not applicable in case of loans secured by cash, bonds and metal accounts. If the modification implies adding new pledge or involving a new guarantor, no fee is charged. These fees do not apply to loans to agro-processing industry.

Required documents

Required documents filed together with loan application

Loan application

Passports (original) (for private entrepreneurs)

TIN certificate, state registration certificate (for corporate applicants, information on the executive body is required)

Charter (for corporate applicants)

Copies of the passports and social security cards of the shareholders and CEO/President (for corporate applicants)

Documents required after initial approval

Copies of the state registration certificates and the inserts of the Borrower and legal entities and private entrepreneurs affiliated with the Borrower

Financial statements for the latest reporting period, certified by the tax authority

For the recent reporting year (for those filing the balance sheet and the statement of comprehensive income); for the recent reporting quarter (for fixed and/or simplified tax payers)

Copy of the certificate of title or the document certifying the right to lease the premises used as place of business

Sale/supply agreements, orders, invoices, other documents supporting the normal process of sales

Licenses, certificates and other documents required for business operation (copies)

Documents certifying title to the assets (real estate and/or movable property) to be pledged

Geodetic measurement report of land plot to be pledged

Tax clearance certificate

Initial report on appraisal of real estate/vehicle

Documents required after loan approval

Copies of bases of title to real estate (to be submitted upon request)

Passports of the owners of the property to be pledged (copy of the spouse death certificate)

Bases of title to real estate

Copy of the marriage (divorce, spouse death) certificate

Statement from the State Committee of Real Estate Cadaster on encumbrance of real estate (unified statement)

Statement, issued by the Police, on encumbrance of vehicle

Pledged property appraisal report (final)

Real estate/vehicle insurance agreement (as required)

Approval of the authorized body of corporate applicant to execute loan and pledge-related transactions

Reference on registered shareholders/stockholders/founders, director and the latest amendments to the charter (for corporate applicants)

Environmental impact assessment report, technical safety report, examination reports, feasibility studies (whenever required), etc., required under the applicable Armenian laws and regulations and/or the bank’s bylaws and regulations (if the company’s activity is associated with high environmental risks)

Other documents as the bank's specialist may request

Old terms

Last updated on 02.05.2022, 10:59