Overdraft via Business Cards (Visa Business/MasterCard Business) under Retail Business Loan Secured by Assets
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Loan type
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Overdraft via business cards under secured retail business loan
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Purpose
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Business expansion; financing of current operations and other investments; transfer of outstanding business loans with other banks and credit organizations to Ameriabank CJSC
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Who may apply
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Legal entities and individual entrepreneurs with at least 6-month business history
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Sectoral restrictions
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According to the Exclusion List
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Loan terms
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Minimum and maximum loan limit
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AMD 1 million - 15 million or its equivalent in another currency. The limit cannot exceed 10% of the contractual amount of the loan with Ameriabank, whether currently effective or being considered. If the customer has more than one business loans, the calculation involves 10% of the largest loan or the aggregate sum of such loans.
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Currency
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AMD
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USD
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EUR
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Term (months)
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6-36 months but in any case until the expiry of the principal agreement
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Annual interest rate (fixed) 3
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13.5% (APR: 14.8-16.9%)
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10.5% (APR: 11.4-13.4%)
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9% (APR: 9.8-11.7%)
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Annual interest rate on non-utilized amounts
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1%
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Other terms related to the interest rate
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If the line of credit/overdraft is secured by cash or bonds issued by Ameriabank CJSC, 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
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Where insurance of the collateral is obtained by the bank at the wish 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 collateral is a vehicle, or • 0.5% if the collateral is plant and equipment. Where the insurance of real estate is obtained by the client, the interest rate will be reduced by 0.05%, based on the share of each type of assets in the total collateral.
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Loan disbursement fee
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1% of the loan amount
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Loan cashing
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As per the tariffs of the bank effective at each particular time
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Repayment
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According to the schedule or at the end of the maturity period
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Loan security
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Security pledged under the principal agreement for the retail business loan secured by property
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Insurance of property
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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 obtained 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
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Loan service fees 1
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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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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 will continue to be applied to overdue loans. Fine in the amount of 0.13 % of overdue loan/interest for each day of delay.
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