LOANS PROVIDED FOR AGRICULTURAL PURPOSES

Conditions
Loan purpose
Loans to agro-processing sector for agricultural raw materials procurement (purchases)
Loans provided for the development of cattle breeding
Loan type
Agricultural
Loan amount
AMD 1.500.000- 1.500.000.000 (raw materials procurement) AMD 1.500.000- 300.000.000 (cattle breeding development)
Loan currency
AMD        
Annual interest rate
Maximum - 12%, moreover :
   •  in case of raw materials procurement (purchases) a part (amount) equal to up to 9 percentage point of the loan’s interest rate will be subsidized so that the the annual interest rate of the loan paid by the Borrower will make 3%. 
  Actual interest rate  -  5.91-22.57% ( in case of loans  up to AMD 5 mln.)
In case of cattle breeding development, interest rates of the loans are subsidized in such an extent so that the loans can be provided at 2% interest rate and at 0% interest rate for the loans granted to the businesses or cooperatives of borderline communities engaged in agricultural sector included in the list approved by  RA Government resolution N 1444 dated 18 December 2014.
   Actual interest rate - 0.58-12.02% (in case of loans up to AMD 5 mln.)
Grace period 
2-3 months  - in case of raw materials procurement (purchases) Maximum 12 months – in case of cattle breeding development
Commission fee
Not defined
Encashment fee
Not defined
Positive decision grounds
Positive loan history (if any),
Reliability of the submitted documents,
Positive appraisal of  the analysis on the customer’s financial state
Availability of a pledge and /or a guarantee acceptable by the Bank  :
Loan term
In case of raw materials procurement (purchases) -6-12 months
In case of cattle breeding development 12-60 months
 
Security
Movable property or real estate,  other pledge acceptable by the Bank
Loan to pledge value ratio
Maximum -  80%
Grant way
By cash or cashless
Loan repayment flexible schedule may be defined depending on the peculiarities of  an activity to be financed
 
Loan arrangement is realized
ARMECONOMBANK OJSC Head office and branches
Decision period
For large loans up to 25 working days ,For medium, small and micro loans up to 20 working days    (in case of collateral  the loan is provided within 2 working days following the receipt of registration right over the pledge)
Attention : When applying for a loan the Bank provides you with an individual leaflet on essential terms of consumer loan where the individual conditions of the loan to be provided to you are summarized. (in case of loans up to AMD 5.000.000 or equivalent foreign currency).   Note: On the purpose of due diligence of the customer envisaged by RA law on “On combating money laundering and terrorism financing”, the Bank may request additional documents or other information from the consumer based on <>  (<>) principle, as well as ask the consumer additional questions during oral communication. 1. YOU HAVE THE RIGHT TO COMMUNICATE WITH THE FINANCIAL INSTITUTION THROUGH YOUR PREFERRED METHOD: BY EMAIL OR MAIL. THE RECEIPT OF INFORMATION BY EMAIL IS THE MOST CONVENIENT. IT IS AVAILABLE ROUND-THE CLOCK (24/7), FREE OF THE RISK OF LOSS OF PAPER INFORMATION AND ENSURES THE CONFIDENTIALITY.
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Updated: 25/11/2019 09:31