Commercial Loan Granted Under Fund Collateration
Conditions
Loan purpose 
Loans provided for economic, commercial, service rendering, business expansion and development purposes.
Loan type
Commercial
Loan amount  
AMD 10.000-25.000.000 or equivalent foreign currency
Loan currency
AMD and foreign currency  
Annual interest rate
Currency of pledged monetary funds Loan currency AMD USD EUR RUR Pledged funds’ interest rate plus AMD +4% +4% +4% - USD +4%, min 14% +4% +4% - EUR +4%, min 14% +5% +4% - RUR +4%, min 14% - - +4%
Loan term 
30-1095 days
Loan redemption frequency and procedure
Principal loan amount repayments are maid monthly or at the end of the deadline.   Loan interest repayments are maid monthly or in advance.
Security 
Term bank deposits, Customer’s current account funds.
Loan to pledge value ratio
 
Currency of pledged monetary funds Loan currency AMD USD EUR RUR AMD 95% 80% 80% - USD 80% 95% 80% - EUR 80% 80% 95% - RUR 70% - - 95%
Grant way 
By cash  and  cashless
Loan arrangement is realized
“ARMECONOMBANK” OJSC head office and branches
Decision period
Up to 2 banking days
Demands
Borrowers’ requirements
Resident sole entrepreneur Registered corporate entity Has monetary funds/ term deposits in the Bank
Negative decision grounds
Customer’s negative credit history. Other reasons which according to the Bank assessment will hamper the loan repayment.
Penalties
For the overdue amount of any outstanding (loan, interest, other charges) term defined in the contract, a penalty of 0.13 per cent of the overdue amount is charged (daily).
Documents
NoteDocuments to be presented by sole entrepreneurs 
 
PunctCopy of State Register certificate, transcript on the executive authority is mandatory.(the document  may not be required if the Bank receives the given information electronically in defined order)
Punct  Tax code (copy); TIN
PunctSet of financial reports for the latest accounting period. If necessary, approved (sealed or stamped) by applicable tax authority (copy).
Punct Statement of settlements with State budget or statement on liabilities to State budget from the tax authority of relevant location (mandatory for loans exceeding AMD 10 mln or foreign currency equivalent thereof)
PunctLicenses  (if any), (copy),
PunctPassport  (copy),
PunctBank account statement (if necessary).
PunctStatement of accounts receivable and payable (with breakdown if necessary)
NoteDocuments to be presented by legal entities
  .
Punct Copy of State Register certificate, transcript on the executive authority is mandatory.(the document  may not be required if the Bank receives the given information electronically in defined order)
PunctState Register statement on participants, replacement of the director, and amendments to charter(the document  may not be required if the Bank receives the given information electronically in defined order). In case of joint stock companies, statement on shareholders from Central Depository of Armenia OJSC and State Register statement on replacement of the director, and amendments to charter.   The documents listed in paragraph 2.1 are not required for corporate entities in case where the decision on borrowing may be made by the director
PunctCharter (reviewed).(this document may not be required if the Bank receives the given information electronically in defined order)
Punct Authority's decision on borrowing, and pledging property (necessary if the information listed in paragraph 2 is required).
PunctSet of financial reports for the latest accounting period. If necessary, approved (sealed or stamped) by applicable tax authority (copy).
Punct Statement of settlements with State budget or statement on liabilities to State budget from the tax authority of relevant location (mandatory for loans exceeding AMD 10 mln or foreign currency equivalent thereof)
Punct Tax code (copy); TIN
PunctLicenses  (if any), (copy),
PunctPassport  (copy),
PunctBank account statement (if necessary).
PunctStatement of accounts receivable and payable (with breakdown if necessary)
Հաշվիչ
Հավասարաչափ մարումներով
Results Արդյունք
N Վճարման ամսաթիվ Վարկի մնացորդ Վճարվող տոկոսագումար Մարում վարկից Ընդամենը վճարում
Մայր գումարի հավասարաչափ մարումներով
Results Արդյունք
N Վճարման ամսաթիվ Վարկի մնացորդ Վճարվող տոկոսագումար Մարում վարկից Ընդամենը վճարում
Updated: 03/05/2018 15:39