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Agricultural loan

Promotion for financing of acquisition of fixed assets and working capital and repayment of payables 

The promotion is in force from August 22, 2016 to August 31, 2017

Annual interest rate of the loan
USD - starting from 10%,
EURO - starting from 8%
Loan maturity

Up to 84 months -  for acquisition of fixed assets and repayment of payables

Up to 60 months - for acquisition of working capital

Commission fee for review of the loan application and loan disbursement 

Agricultural loan

Borrower RA residents-citizens (including private entrepreneurs)
Loan currency The loan is disbursed in AMD, USD, or Euro

 

 

 

 

 

Means of security

  • If the amount of the liabilities is up to AMD 1.5 mln. or its equivalent in foreign currency – collateral or availability of two guarantors


Private individual guarantor:

- At the time of loan disbursement, shall possess immovable property and/or movable property subject to state registration, owned through the ownership/co-ownership right and/or stable justified income;
- At the time of loan disbursement, can have maximum 3 acting guarantees, provided for liabilities of other persons, whose liabilities aren’t overdue;
- A mandatory requirement is availability of a credit report from ACRA credit bureau regarding the guarantor. Another mandatory condition is absence of liabilities delayed for 30 and more days during the last 12 months and absence of classified liabilities at the time of loan disbursement.

  • If the amount of the liabilities is above AMD 1.5 mln. or its equivalent in foreign currency, collateral (inventory holdings are also acceptable, but not more than 50% of the appraised liquid value of the collateral item) and, if necessary, additional guarantee/s/

 

 

Interest rate

Currency Project/Own Up to 1 year 1-3 years 3-5 years
AMD Project 14%/20% 14%/21% 14%/22%
USD Own 12%  13%  14% 
Euro   11%  11%  12% 
Fee for review of the loan application, charged at the time of submission of the customer's application to the Bank

 

AMD 5,000 

 

 

Maturity, procedure of repayment of the loan and interest

 

Loan maturity:

In case of loans for an amount up to AMD 1.5 mln. or its equivalent in foreign currency - maximum 36 months, and in case of loans for an amount above AMD 1.5 mln. or its equivalent in foreign currency - maximum 60 months.
Procedure of repayment of the loan and interest

  • annuity
  • spring-like
  • flexible
Commission fee The Bank might specify other fees as well.

Agricultural loan with pledge of gold

Borrower
RA residents-citizens (including private entrepreneurs)

 

 

Loan currency and amount

The loan is disbursed in AMD, USD, or Euro.

The loan amount shall be the following percentage of the appraised value of the collateral:

  • 100%, if the loan maturity isn't longer than 6 months;
  • 95%, if the loan maturity is longer than 6 months.

Guarantees by third persons aren't mandatory for disbursement of the loan.

 

 

Maturity, procedure of repayment of the loan and interest

 Loan maturity:

  • in case of annuity repayment – up to 24 months
  • in case of repayment at the end of the maturity term– up to 12 months

In case of AMD loans – a grace period up to 6 months is set for repayment of the principal amount and the interest, during which the Customer can make no payment.

 

 

Interest rate

 Currency  Project / Own  Up to 1 year  1-3 years  3-5 years
 AMD  Project  14%/20%  14%/21%  14%/22%
 USD  Own  12%  13%  14%
 Euro    11%  11%  12%

Other provisions and conditions

Credit account service fee

Is charge from the Customer's account once, at the time of loan disbursement, according to the following scale:

Loan amount (AMD equivalent)
Service fee (AMD)
30,000-250,000 1,000
250,001-500,000 2,000
500,001-1,000,000 3,000
1,000,001-2,000,000 4,000
2,000,001-3,000,000 6,000
3,000,0001 and more 10,000

In some cases, the Bank might set special regional tariffs.

The Bank might set other payments as well.

Card account service fee

One-off fee charged at the time of loan disbursement - AMD 1,500

Card preparation and provision term

2-4 working days

Fines and penalties

The Bank might choose to apply the following fines and penalties:

  • 0.15% of the overdue loan amount for each day of delay, and in case of delay in repayment of the liability for 5 consecutive working days a penalty of 2 percent of the loan amount, minimum AMD 5,000 is charged.
  • 0.4% of the overdue interest amount for calendar each day of delay, and in case of delay in repayment of the liability for 5 consecutive working days a penalty of 5 percent of the interest amount, minimum AMD 5,000 is charged.
  • in case of violation of each of the preconditions set for loan disbursement, one off penalty is charged, from AMD 50.000 to AMD 100.000.
  • in case if insurance of the pledged property is required, if the customer fails to provide the Bank with the insurance certificate within the specified timeframe, one-off penalty is charged, in the amount of AMD 50.000.

For delays by the Customer in repayment of the loan or violation of other contractual obligations, the Bank might set other penalties and unfavorable consequences for certain loans, including revision of the current interest rate.
The rates and sizes of the fine are specified in the contracts/agreements signed with the Customer.

Fines and penalties

Pledged gold

Other conditions

AMD loans can be disbursed also by cards. If AMD loans are disbursed by ARCA Classic, Visa Electron, Cirrus/Maestro cards, no service fee is charged.
USD and Euro loans are disbursed by Visa Electron or Cirrus/Maestro cards, and no service fee is charged.
If the Customer prefers to get the loan by other cards, the current card service tariffs of the Bank are applied.

Cash withdrawal

In case of AMD: 0.5%
In case of USD: 0.3%

List of required documents to be submitted to the Bank

  • Loan application, in accordance with the form used at the Bank
  • Passport or some other personal identification document
  • Public services number, or a reference on absence of a PSN
  • Ownership certificates for the real estate owned by the customer and used for agricultural purpose or copies of rent agreements for such real estate (arable land, meadow, cattle shed)
  • Reference from the village/town municipality
  • Additional documents can be reque