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Investment loan
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Purpose
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Purpose
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(i) Obtaining equity share in Armenia-based companies via purchase of their shares/stocks or subscription to new shares/stocks
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(ii) Involvement in Armenia-based businesses, including via purchase of property, plant and equipment and their use to get involved in business in any manner allowed under Armenian legislation, including through execution of any contract allowed under Armenian civil law,
as well as share contribution to cooperatives based or incorporated in Armenia.
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Client's personal details
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Eligible age of client/co-borrower/guarantor
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18-65 years old, provided that the borrower's age at the time of expiry of loan agreement will not have exceeded 65, otherwise a co-borrower or guarantor is required. The eligible age of co-borrower or guarantor is 18-65 provided that at the time of expiry of agreement it will not have exceeded 65.
If involvement of a co-borrower or guarantor is a required condition under loan terms (except where co-borrowers or guarantors possess at least 70% of income included in OTI calculation), the eligible age is 18-65 provided that at the time of expiry of agreement it will not have exceeded 65.
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Residency
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Citizens and non-citizens of Armenia who are resident in Armenia
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Loan terms
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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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AMD 3,000,000 - AMD 150,000,000
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USD 5,000 - USD 300,000
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EUR 5,000 - EUR 300,000
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Term (months)
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36-60
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Annual interest rate
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Adjustable fixed (rate can be changed starting from the 13th month)
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Fixed
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Adjustable fixed (rate can be changed starting from the 13th month)
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Fixed
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Adjustable fixed (rate can be changed starting from the 13th month)
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Fixed
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Fixed component 5% + variable component (base rate)
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16.0%
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Fixed component 9% + variable component (base rate)
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13.0%
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Fixed component 8.5% + variable component (base rate)
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10.5%
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Term (months)
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61-120
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Annual interest rate
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Adjustable fixed (rate can be changed starting from the 37th month)
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Adjustable fixed (rate can be changed starting from the 37th month)
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Fixed
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Adjustable fixed (rate can be changed starting from the 37th month)
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Fixed
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Fixed component 5.25% + variable component (base rate)
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Fixed component 9.25% + variable component (base rate)
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13.25%
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Fixed component 8.75% + variable component (base rate)
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10.75%
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Term (months)
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121-240
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Annual interest rate
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Adjustable fixed (rate can be changed starting from the 37th month)
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Adjustable fixed (rate can be changed starting from the 37th month)
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Adjustable fixed (rate can be changed starting from the 37th month)
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Fixed component 5.5% + variable component (base rate)
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Fixed component 9.5% + variable component (base rate)
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Fixed component 9.0% +variable component (base rate)
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Other terms related to the interest rate
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Where insurance of the collateral is obtained by the Bank at the with of the client, the rate of interest will be increased by:
• 2.5% if the collateral is 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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If repayment schedule is differentiated or mixed, the applicable interest rate is increased by 0.5%.
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If the collateral related ratios (loan-to-value ratio) deviate from those approved by the internal regulations of the Bank, the applicable interest rate is increased by 0.25%.
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If the creditworthiness criteria deviate from those approved by the internal regulations of the Bank (any or several of the declared income related criteria, OTI and OSM), the applicable interest rate is increased by 0.25%.
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If the client prefers a lending scheme without early repayment fee, the applicable interest rate is increased by 2% (not applicable to loans secured by cash or bonds).
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In case of other deviations, the applicable interest rate may be increased by 0.25%.
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Loan disbursement upfront fee
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0.5% of the loan principal or AMD 50,000, whichever is greater
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Cashing of loan by borrower
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AMD: Free
Other currency: 0.5 %
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Forms of loan repayment
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Repayment
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Annuity (equal monthly installments consisting of a portion of loan and a portion of interest)
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Differentiated (monthly repayment of equal portions of principal amount while interest accrues to outstanding loan and decreases each month)
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Mixed (client may choose an individual repayment schedule based on seasonality of cash flows, provided that at least 5% of contractual loan amount is repaid each year; interest payable on monthly basis)
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Security
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Eligible collateral
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Real estate, vehicles to the reasonable satisfaction of the bank, metal accounts in gold, cash and bonds issued by Ameriabank
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Maximum loan-to-value (LTV) ratio (if the loan is secured by real estate, vehicles or plant and equipment, calculation is based on their liquidation value)
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The value of the loan security will be included in the estimation of the LTV ratio in an amount not more than:
1. Real estate: 80% if in Yerevan, 70% if outside Yerevan
2. Vehicles: 60%
3. Property and equipment: 40%, but not more than 30% of the value of aggregate pledge
4. Metal accounts in gold with Ameriabank: 80%
5. Cash collateral/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
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Location of real estate to be pledged
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Capital cities and regional centers of Armenia and Artsakh, as well as the towns of Abovyan, Ejmiatsin, Jrvezh, Arinj, Dzoraghbyur, Tsaghkadzor, Dilijan, Kajaran and Jermuk
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Age of vehicles to be pledged
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Max 12 years for foreign brand vehicles other than vehicles made in Russia, China and Iran, in which case max age is 8 years
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Appraisal of pledge
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Pledged property to be appraised by an appraising partner of the bank.
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Vehicles to be appraised by an appraising partner of the bank.
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Additional security
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The Bank may request guarantee of individuals and/or companies as additional security.
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Insurance of the collateral
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Insurance of property
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The insurance of real estate, vehicles and plant and equipment is maintained throughout the loan term:
1. If obtained by the client: at least to the extent of outstanding principal
2. If obtained by the bank: to the extent of outstanding principal
The bank does not obtain insurance for the following vehicles:
• 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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Required documents
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Required documents
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Required documents filed together with the loan application
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• Loan application
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• ID [original]
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• Certificate of ownership of property to be purchased/pledged [copy]
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Documents required after initial approval
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• Proof of employment and/or other income
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• Marriage (divorce, spouse death), birth certificate [original]
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• Certificates of registration and ownership certificates of vehicles to be pledged [original]
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• Certificate of title to real estate to be pledged [original]
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• Geodetic measurement report of land plot to be pledged**
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• Initial report on appraisal of real estate/vehicle
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Documents required after loan approval
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• Copies of bases of title to real estate (to be submitted upon request)
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• IDs of owners of property to be purchased/pledged [originals]
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• Copies of marriage (divorce, spouse death) certificates of owners of property to be pledged
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• Statement from the State Committee of Real Estate Cadaster on encumbrance of real estate (unified statement)
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• Statement, issued by the Police, on encumbrance of vehicle
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• Real estate appraisal report (final)
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• Real estate/vehicle insurance policy
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• Other documents as the bank's specialist may request
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Early repayment fee
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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
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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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Other fees
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Other fees payable by client
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• Fee for unified statement from the State Committee of Real Estate Cadaster of the Government of the Republic of Armenia
• Fees for notarization of pledge (real estate or vehicle) and filing of the bank’s security interest under pledge agreement
• Fee for statement from the Police on encumbrance of vehicle
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**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.
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***The annual percentage rate (APR) may differ from the above specified values if there is any or a few of the following factors:
- When the property insurance is obtained by the Bank at the customer’s request
- When the borrower selects differentiated or mixed form of loan repayment
- If there are deviations from the creditworthiness criteria approved under the internal regulations of the Bank
- If additional property is pledged as collateral
- If there are other deviations
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