Overdraft | Medium Business | Ameriabank
Նախորդ տարբերակին անցում կատարելու համար սեղմել   այստեղ

Overdraft

For businesses with up to AMD 750M annual turnover

Need free cash to manage pressing short-term costs, such as payroll or various contingencies? Our overdraft is here to help you avoid financial difficulties. With an active overdraft, you will no longer have to worry about free cash and will be able to pay out-of-pocket expenses even if you don't have enough funds on your bank account.

Available in Armenian drams, US dollars, euros

Loan currency

Up to 50%

of average monthly turnover

Up to 12 months

repayment period

Amount 

Max 50% of average monthly account turnover at least for the latest 6 months 

Term

Up to 12 months

Repayment of utilized amounts

As per schedule (monthly, quarterly, semi-annually or otherwise as defined under loan agreement)

Annual interest rate on utilized amount*

For overdrafts in AMD from 13 %

For overdrafts in USD from 10 %

For overdrafts in EUR from 9 %

Loan disbursement fee **

0-0.5 %  of credit limit 

Late payment fee***

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

Early repayment

Early repayment fee in the amount of up to 6-month interest on early repaid sums where envisaged under loan agreement

Limit reduction

If there is no turnover on bank accounts for a month, the overdraft limit can be reviewed and reduced.

Security

Cash flows, guarantees and warranties, in certain cases – other security

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

Max 50% of average monthly turnover on bank accounts for the most recent period from 6 (min) to 12 (max) months 

Գրավի ապահովագրություն

Տարեկան ապահովագրություն` վարկային գծի սահմանաչափի չափով
Գրավադրվող անշարժ գույքը ապահովագրվում է միայն այն դեպքում, եթե օգտագործվում/օգտագործվելու է ձեռնարկատիրական գործունեության նպատակով:

Application handling period

Up to 10 business days upon receipt of complete set of documents

Depending on the process, the specified terms may be extended for an additional period of not more than 10 business days. 

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

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

Overdraft re-approval term 

Upon expiry of validity period but not later than within 60 days after initial overdraft approval date

Form of disbursement

Wire transfer to bank account

Overdraft modification application

fee*****

 

AMD 500 000 

*Maximum annual interest rate shall not exceed 24%. The interest rate specified in the loan agreement shall continue to be applied to overdue loans. 

**Whenever applied, the maximum annual rate or aggregate amount of fines and/or penalties under the Agreement shall be within the limits defined under the legislation of the Republic of Armenia.

*** The cost of purchase of energy-efficient equipment and facilities, infrastructure construction and other projects using renewable energy sources should comprise at least 70% of loan proceeds. The remaining 30% can be invested into other fixed assets of the borrower.

**** Real estate must be located in Yerevan

*****Where the guarantee is the main security and there are pledged items as well, loan-to-value ratio is not applicable. This being the case, the character of security (main or additional) is defined in loan conclusion and approved by the authorized body.

******Loan modification fee shall be payable by the client in case the application for revision of terms was submitted by the client at their initiative and approved by the bank. The fee is paid based on analysis and conclusion prepared by relevant department of the bank for the client’s application. In other cases of modification of loan terms charging of the fee shall be subject to decision of the bank’s authorized body. 

Calculation of interests

Attention! Interests are calculated on outstanding amount on daily basis for a 365-day year.

 

Example

Used overdraft limit – 1,000,000 AMD

Annual interest rate – 15 %

Daily interest calculation – 1,000,000*15%/365=410.96


Change of interest rates

The bank is entitled to change the interest rate at any time depending on the volatility of the interest rates on the funds borrowed and/or allocated by the bank in the financial market, and/or occurrence of preconditions for the change of annual interest rate applied to the loan. The bank issues a respective notice to the borrower 30 days in advance which will serve as a basis for applying the new interest rate from the day specified in the notice. If not consenting to the new interest rate, the borrower has the right to terminate the agreement by fulfilling the liabilities thereunder as of the date of termination. SME overdrafts are provided in non-cash form in AMD, USD and EUR.


When applying for a loan, be informed.

Last updated on 29.09.2021, 11:40