Bank participates in a financial program provided by EIB, in which scopes the Bank provides Business Loans in agricultural, processing of agricultural products and tourism sectors. The nominal interest rate per year is 9.5% with 24 – 90 months length.
European investment bank, which is the financial institute of European Union, created through the Pact of Growth and Stability, in unity with many financial firms participates in investment programs in order to satisfy European Union goals. The loans lent through the following program are an advantage for the beneficiaries from the interest rate aspect. The highlighted privilege is calculated as up to 25 basis points per year in contrast with the annual interest rates, which ACBA-CREDIT AGRICOLE Bank proposes for equivalent loans which are not financially promoted by EIB.
The mentioned loans are disbursed in AMD and foreign currency with the following interest rates:
The interest rate of the Business loans with variable interest rates is defined by adding LIBOR interest rate (London average interbank interest rate in the loan currency). Moreover, the change in the annual interest rate can be made every month following the semester on the day defined as the customer’s payment day. The LIBOR interest rate changes every year on January 1st and July 1st. Every calendar year from the 1st of January the LIBOR interest rate registered on the second working day following the 1st of January at 11:00 London time is taken into consideration, and from the 1st of July the LIBOR interest rate registered on the second working day following the 1st of July at 11:00. If during the current working day it is a non-working day in London, the LIBOR interest rate registered on the previous working day is being taken into account.
The LIBOR interest rate is defined based on the information published by “Reuters” media company. If the LIBOR interest rate has not been published for some reason the last LIBOR interest rate published by “Reuters” is being taken into consideration. LIBOR interest rate is rounded to two digits.
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1 The note “Identical with the original” shall be made on the reports, they shall be signed and shall contain the date. If the customer is a legal entity, the specified reports shall be signed by the director of the legal entity or the authorized person, as well as they shall bear the seal of the legal entity.
2 The documents are required, if the data or documents are missing or are incorrect in the database of the RA Ministry of Justice.
3 The reference may be received from the Bank or from the agency of the RA Ministry of Justice.
4 The reference from the registry is not required, if the shares of the joint stock company are pledged in the Bank or the holding and maintenance of the register of the shares is performed by the Bank.
5 It can be submitted after the positive decision on provision of the loan, made by the Bank.