Loans are provided:

- for agricultural cooperatives and border settlements receiving social assistance at 0% interest rate

- for other communities of the republic at 2% interest rate

Individuals

• Identification document
• A copy of the document containing the public service number, prescribed by law or the original of the certificate issued by the state registry body on whether or not a public service number has been received
• Documents, proving the ownership of collateral offered by the customer as a loan security
• Copies of passports of guarantors and / or creditors
• Conclusion of the Ministry of Agriculture on the compliance of the small cattle
• The Bank may request additional documents or other information based on the Know Your Customer principle for the purpose of proper examination of the customer as defined by the RA Law on Combating Money Laundering and Terrorist Financing, as well as ask additional questions during verbal communication
• Other documents may be required

Legal entities

• Identification document of the founders, director and chief accountant
• Reference from the tax inspectorate on liabilities
• Electronic reports submitted to the Tax Inspectorate for the last 1 year and notification on the acceptance of the reports
• Collateral ownership certificate, technical passport, owners' identification documents, marriage certificate and photos of collaterals
• Copy of the charter of legal entities ¹
• Copy of the State Register of Legal Entities Certificate (with inserts) and copy of TIN number (if necessary)¹
• Reference from the State Register of Legal Entities ^1,2,3
• Registry statement in case of a joint-stock company
• The Bank may request additional documents or other information based on the Know Your Customer principle for the purpose of proper examination of the customer as defined by the RA Law on Combating Money Laundering and Terrorist Financing, as well as ask additional questions during verbal communication
• Other documents may be required

¹ Documents are required if the data or documents in the database of the state register of the RA Ministry of Justice are missing or incorrect.

² The certificate can be obtained from the Bank or the State Register Agency of the Ministry of Justice of the Republic of Armenia, whereby the submission of the certificate by the legal entity customers is obligatory, while it is mandatory for the private entrepreneur customers in case of not submitting the state registration certificate with its inserts.

³ May be submitted after the Bank has made a positive decision on the loan.

• Interest rate subsidy by the Government of the Republic of Armenia
• Flexible loan repayment schedule
• 12 months grace period for repayment of principal

• Loans are provided non-cash (the amount is transferred to the supplier’s account)
• The decision on the loan application is made within 3 days after submitting the application package of the necessary documents by the customer
• Penalties are not charged in case of early repayment of loans

In case of interest rate fluctuations of the Bank's funds attracted and placed in the financial market and / or change in the financing rate and / or the existence of such preconditions and / or in case of non-targeted use of the loan by the Borrower, the Bank may unilaterally change the interest rates and commission notifying the Borrower 30 calendar days in advance.

Example of loan interest calculation

• Loan amount – 3,000,000 AMD
• Loan interest rate – 14%
• Loan subsidized interest rate – 14%
• Loan non-subsidized interest rate – 2%
• Loan term - 48 months
• Daily interest rate will be Loan amount (balance) x Loan interest rate / 365 = (3,000,000 x 14% / 365) = 1150.68 AMD
• Interest amount, paid by the customer – 164.38 AMD.

Subsidized and non-subsidized loan interest rates are calculated based on the loan balance. The non-subsidized interest rate is payable by the customer.

ATTENTION: LOAN INTEREST RATES ARE CALCULATED ON THE BASIS OF NOMINAL INTEREST RATE. THE ACTUAL ANNUAL INTEREST RATE SHOWS HOW MUCH THE LOAN WILL COST YOU IN CASE OF DULY REPAYMENT OF INTEREST AMOUNTS AND ALL MANDATORY FEES FOR THE PROVISION AND SERVICE OF THE LOAN BY YOU. YOU CAN FIND THE ANNUAL ACTUAL RATE CALCULATION PROCEDURE HERE .

In case of non-fulfillment of obligations by the borrower on time, a penalty of 0.13% is calculated for each overdue day.

In case of foreign currency loans, the basis for calculating the annual actual interest rate is the exchange rate published on the official website of the Central Bank of Armenia as of the loan disbursement date, and the annual actual interest rate may change depending on the change in the exchange rate published on the official website of the Central Bank.

In case of loans up to AMD 5 million or equivalent in foreign currency, the Borrower has the right to unilaterally terminate the loan agreement within 7 working days after its conclusion. In this case, the borrower is required to pay interest to the creditor in order to use the loan amount, which is calculated in accordance with the actual annual interest rate stipulated in the loan agreement. No other compensation may be claimed from the borrower in connection with the termination of the loan agreement.

In case of loans up to 5 million AMD or equivalent in foreign currency, the borrower has the right to fulfill (repay) the obligations under the loan agreement ahead of time, regardless of whether such a right is envisaged by the loan agreement or not.

ATTENTION: APPLYING FOR A LOAN, THE CREDITOR WILL PROVIDE YOU WITH AN INDIVIDUAL SHEET ON SIGNIFICANT TERMS OF CONSUMER LOANS, WHICH WILL INCLUDE THE SPECIFIC CONDITIONS OF THE LOAN, PROVIDED TO YOU.

Confiscation of collateral

THE PLEDGED PROPERTY CAN BE CONFISCATED, IF THE BORROWER DOES NOT DULY REPAY THE INTEREST AMOUNTS AND LOAN AMOUNT. IF THE COLLATERAL VALUE IS INSUFFICIENT, THE BORROWER’S LIABILITIES WILL BE REPAID AT THE EXPENSE OF OTHER PROPERTY OF THE BORROWER.

Information, provided to the Credit Registry

ATTENTION: IN CASE OF NON-FULFILLMENT OR IMPROPER FULFILLMENT OF YOUR LIABILITIES, THE CREDITOR WILL SEND YOUR DATA TO THE CREDIT BUREAU AFTER 3 WORKING DAYS, WHERE YOUR CREDIT HISTORY IS FORMED.

HAVING A BAD CREDIT HISTORY CAN BE AN OBSTACLE FOR YOU TO RECEIVE OTHER LOANS IN THE FUTURE.

YOU HAVE THE RIGHT TO COMMUNICATE WITH YOUR FINANCIAL ORGANIZATION IN YOUR PREFERRED METHOD - BY MAIL OR EMAIL. RECEIPT OF INFORMATION ELECTRONICALY IS THE MOST CONVENIENT. IT IS AVAILABLE 24/7, FREE OF THE RISK OF LOSS OF PAPER INFORMATION AND PROVIDES CONFIDENTIALITY.

www.fininfo.am:

ATTENTION: YOUR FINANCIAL INFORMATION GUIDE IS AN ELECTRONIC SYSTEM TO MAKE THE SEARCH, COMPARISON AND SELECTION OF THE MOST BENEFICIAL OPTION FOR YOU EASIER FROM THE SERVICES, OFFERED TO INDIVIDUALS.