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Variable – rate loans in US dollars

Variable – rate loans in US dollars

Loans for purchase of fixed and working assets, financing of receivables occurred from purchase of working assets.

Take the advantage of the variable rate loan offered by the Bank to make your business more efficient and profitable at favorable terms.


  • Interest rate
    up to 6.9%
  • Maturity
    14-1095 days
  • Minimum amount
    50 000 USD
  • Maximum amount
    Limited to according to internal regulations          
 
The page was updated 27.12.2017 11:26

 Variable – rate loans in US dollars

Loans for purchase of fixed and working assets, financing of receivables occurred from purchase of working assets.


1 Purpose of the loan
Loans to purchase of fixed and working assets, financing of receivables occurred from purchase of working assets
2 Borrower
RA resident/non resident legal entities and private entrepreneurs
3 Currency
USD
4 Minimum maturity
14 days
5 Maximum maturity
1095 days
6 Loan amount minimum 50 000 USD
maximum Limited to according to internal regulations       
7 Annual interest rate
For the first 180 days after the effective date of the agreement
6.9%
Starting from the 181st day of the effective date of the agreement till the maturity date
10.9%
8 Loan application processing fee
Not applicable
9 Upfront fee
0.5% of the loan amount in a single payment
10 Grace period for repayment of the principal amount   Maximum 6 month starting from the effective date of the agreement
11 Loan and interest repayment
1. On annuity basis, aggregate  amount  of  the  principal  and  the  interest  to  be  paid  at  equal  monthly  frequency,
2. Descent, equal payment of principal and interest amount on monthly basis.
12 Minimum business history  (uninterrupted)
12 months
13 Opening/maintenance of bank account  According to tariffs
14 Cashing fee
According to the rates applicable at the Bank (cashing of the loan amount or a part thereof can be limited by the decision of competent authority of the Bank (cashing here means transfer of facilities from the Borrower’s account to other account opened with the Bank or other banks))
15 Eligible age of the borrower/guarantor
Eligible age of private entrepreneurs, physical persons should not exceed 70 at the time of maturity.
16 Requirements to the credit history of the Borrower (including participants held 10% and more in its charter capital) /guarantors
1. No overdue /classified obligations as of the date of loan application,
2.  Good or neutral credit history acceptable by the Bank, according to the internal legal acts of the Bank,
3. Credit history requirements for other participants and parties closely related with the borrowers can be presented by the decision of the competent authorities of the Bank.  
17 Acceptable security/collateral
• Real property,
• Fixed assets (equipment, techniques, other property), 
• Vehicles, 
• Working assets, 
• Receivables rights, 
• Cash flows,
• Guarantees, warranties,
• Cash, 
• Precious metals (items) *
• Shares,
• Securities,
• Right of collateral
• Other property or property right allowed by the RA legislation.
18 Loan to collateral ratio According to the internal legal acts applicable by the Bank
19 Insurance of collateral   The subject of collateral should be insured from the appraised market value if the subject of collateral is vehicle. The competent authority of the Bank, which takes the decision on the loan can require insurance for the subject of collateral for all other types of collateral.
* Gold items are appraised according to the rates applicable at the Bank
20 Fine, penalty
For overdue principal amount -  0.1% daily
For overdue interest amount - 0.1% daily
O early repayment fee shall be applicable for repayment of the loan within the first 180 days, starting from the 181st day fine shall be established in the amount of 3% of the early repaid amount
21 Where to apply
Branches of the Bank, Head office
22 Maximum term of taking decision
15 business days after presenting complete file of documents required by the Bank
23 Term of giving notice to the client on taken decision
1 business day
24 Validity term of the decision
30 business days
25 Term of re-approval
Maximum once, within 10 business days after expiration of the validity term of the decision, under the terms of financing, applicable as of the day of re-approval
26 Term of extending the loan
According to the internal legal acts of the Bank


How to calculate interests 


Interest amount is applied to the reduced balance with the account of 365 days a year.

ATTENTION: THE INTEREST ACCRUED TO THE CREDIT AMOUNT IS CALCULATED ON THE BASIS OF NOMINAL INTEREST RATE.   

Exchange rate effect 

Taking into account the fact that the Bank provides loans in both Armenian drams and foreign currency, the borrower should understand that foreign currency fluctuations can have either positive or negative impact on the loan repayment

Loan request rejection 

Upon request of the client the Bank can provide information on rejecting the loan in written form.

ATTENTION: IN CASE OF FAILURE TO REPAY THE LOAN INTEREST AND/OR PRINCIPAL WHEN DUE YOUR ASSETS CAN BE SEIZED. THE INFORMATION ABOUT YOUR OVERDUE LIABILITIES SHALL BE RECORDED IN THE CREDIT REGISTER. 

If the funds received as a result of disposal of pledged property are not enough to cover the borrower's liabilities under the loan, such liabilities shall be paid on the account of other equivalent assets of the borrower.

The page was updated 24.01.2018 09:20
    The list of documents required for variable rate loan is given at the link below:

The page was updated 27.12.2017 12:03
Attention: The Bank does not bear any responsibility for the inaccuracy of information on the linked web sites, nor does it accept any responsibility for the advertisements therein or possible consequences arising out of use of information provided on the linked web-sites. In case of any discrepancies in the website materials in Armenian, Russian and English languages, the Armenian version is prevailing.