To finance your short-term or unforeseen expenses, we offer overdraft financing of your current bank account.

The effectiveness of this type of lending is that interest payments are calculated only for the used portion of the proceeds.

General conditions
Condition* Loan
Minimum and maximum amount / AMD 50% of the average monthly net credit turnover of the client's bank accounts for the last six months, from AMD 5,000,000 to AMD 50,000,000 or equivalent. The Bank may unilaterally review the current overdraft limit until full limit closure, based on financial monitoring results or the customer's previous six month bank turnover.
Minimum and Maximum Term / Month 6- 12
Nominal interest rate 1
Fixed interest rate in AMD
Variable interest rate 2
Fixed interest rate in USD
Variable interest rate 2
Fixed interest rate in EUR
Variable interest rate 2
Procedure for setting variable interest rates In case of AMD loans - 12,25-14.25% for the first 24 months, main index 1 * for 25-144 months, + (4.5-7.0)%, if the main index is unavailable main index 11 (secondary index) + (3.0-5.0%),
In case of USD loans - 9.0-10.5% for the first 24 months, main index 2 * + (8.5-10.5%) for the 25-144 months, main index 21 (secondary index) + (6.0- 8.0%),
In case of EUR loans - 7.75- 9.25% for the first 24 months, main index 3*+ (9.0-11.0%) for the 25-144months, main index 31 (secondary index) + (9.5-11.00%)
% calculation procedure % is calculated against the loan balance decreasing based on 365 days a year / 360 days within the framework of EBRD SME lending program.
Providing method cash, non-cash
Repayment procedure In case of overdrafts, the amount received within 45 days is subject to full repayment

1- Exporting companies are offered additional discounts and benefits

2- - In determining the interest rate on a floating rate, the Bank defines in each case a contractual floating main index (MI), the change of which will result in further rate changes, as well as a fixed component of the bank margin. The rules for setting key interest rates and revising interest rates are as follows:

Main Index1 (main index for Loans Provided in AMD) is the 6-month yield curve rate of government bonds with the repayment curve reflected on https://www.cba.am/am/SitePages/fmofinancialmarkets.aspx.. If the main index becomes inaccessible and the floating rate definition for the next period becomes impossible, then the secondary index will be used: MI11, which represents the Refinancing Rate (Repo) set by the Central Bank of the Republic of Armenia. Repo interest rate is always published on the website of the Central Bank of Armenia www.cba.am

The floating rate of the loan in AMD may be changed (up or down) by a maximum of 4% (maximum and minimum) of the approved interest rate.

MI2 (main index for US Dollar Loans) offered by the Intercontinental Exchange Benchmark Administration Ltd for 6 months in US dollar interbank rate, reflected on https://www.theice.com/marketdata/reports/170 https://www.treasury.gov/resource-center/data-chart-center/interest-rates/pages/textview.aspx?data=yield։ or Armswissbank CJSC home page. If the main index becomes inaccessible and the floating rate definition for the next period becomes impossible, then the secondary index will be used: MI21, which is the 6-month-to-maturity yield curve of US Treasury Bonds, which is reflected in https://www.treasury.gov/resource-center/data-chart-center/interest-rates/pages/textview.aspx?data = yield.

The floating rate of the loan in USD can be changed (up or down) up to a maximum of 3% (maximum and minimum) of the approved interest rate.

MI3 (main index for Euro Loans) by the European Monetary Market Institute (EMMI) for 6 months Euro area interbank euro area rate reflected in https://www.emmi-benchmarks.eu/euribor-org/euribor- on the rates.html page or on the Armswissbank CJSC homepage. If the main index becomes inaccessible and the floating rate definition for the next period becomes impossible, then the secondary index will be used: MI31, which is the 6-month yield curve rate of the European Union Treasury Bonds, which is reflected in https://www.ecb.europa.eu/stats/financial_markets_and_interest_rates/euro_area_yield_curves.html/htm....

The floating rate of the loan in the case of the Euro may be changed (up or down) by a maximum of 2% of the approved interest rate (maximum and minimum). Interest rates on loans with variable interest rates, subject to revision date, are subject to review every half year: may be changed twice a year at 12:00 on the first business day of February and July, with change effective 30 calendar days after publication.

In some cases, the contract may set other time limits for interest rates.

Security real estate, fixed and working capital, shares / stocks, third party guarantees
Loan / collateral maximum ratio up to 80%
Request for collateral insurance at the request of the bank, at least in the amount of the loan balancev

Organization Phone Address Email address
AKCERN-ELITA LLC + (374 10) 27 76 62
+ (374 91) 27 76 62
Yerevan, 12 Vagharsh Vagharshyan str. [email protected]
AMINTAS GROUP LLC + (374 10) 43 22 76
+ (374 96) 43 22 76
Yerevan, 23/6 Artsakh str. [email protected]
ARVM CONSULT LLC + (374 10) 54 64 90
+ (374 98) 94 44 49
Yerevan, Tpagrichneri str., 114 Building [email protected]
UPTIME LLC + (374 60) 53 53 71
+ (374 98) 53 53 14
Yerevan, Yekmalyan str., 6 Building,
5th Floor (in "Business Pale" building)
[email protected]
A.G. BORSA LLC + (374 10) 25 18 18 Yerevan, Nairi Zaryan str., 22 Building, 3rd Floor [email protected]
BILDAP LLC + (374 55) 54 71 60 Yerevan, Zaqyan str., 1 Office [email protected]
BELIEVE LLC + (374 94) 22 11 11 Yerevan, Mashtots Ave., 9-14 Building [email protected]
GARDI LLC + (374 95) 52 05 90 Yerevan, Tumanyan str., 8 building, 317 room [email protected]
COST CONSULT LLC + (374 10) 54 48 82 Yerevan, Pavstos Buzand str., 1 Building, Area 51 [email protected]
VMRP LLC + (374 10) 58 87 97 Yerevan, Vardanants str. Blind Alley, 8 Building [email protected]
OLIVER GROUP LLC +(374 10) 54 27 40 Yerevan, 8 Tumanyan str. [email protected]
INEX LLC + (374 77) 51 81 16
+ (374 55) 51 81 15
Yerevan, Orbeli Yeghbayneri str., 45 bld,
office 403
[email protected]
FINLAW LLC + (374 10) 50 60 00
+ (374 91) 91 91 55
Yerevan, Nalbandyan str., 50 bld, apt. 3 [email protected]


Fees and penalties
Providing fee: The minimum payment is payable at the time of submission of the loan application. If the loan is approved, the underpaid amount is refunded, and if rejected, it is refunded without any deductions. 0.25%, minimum AMD 25,000
In case of overdue loan repayment, daily penalty is % of the amount due 0.1%
In case of overdue interest payment, daily penalty% of the amount due 0.1%
Interest rate on overdue loan Provided by the requirements of Article 411 of the RA Civil Code
Penalty for non-purposeful use of loan amount or part of it Up to 10% of non-targeted use
Other conditions
Changes to the terms of the current contract (loan, pledge, bank guarantee, etc.) Up to AMD 50,000
An amendment to an existing contract will be deemed to be at least the following, unless otherwise decided by the Credit Committee of the Bank:
• Revision of the repayment schedule defined by the credit agreement, unless payment of penalty for early repayment is foreseen,
• modification of other terms of the loan agreement (interest rate, loan purpose, method of settlement, etc.) according to the client's request,
• modification of the basic terms of the security, including the pledge or guarantee agreement at the client's request, early or partial release of the pledge or guarantee, etc.
• The tariff does not apply to changes to contracts that are the result of changes to another contract
Informing the customer about the loan decision within 2-10 business days after the client submits all the necessary documents for loan analysis, depending on the loan amount and customer service history
The term of actual loan providing within 3 business days after the customer submits all the necessary documents for loan preparation
Review of approved / unpaid loan terms Up to AMD 50,000
Collateral registration • Notary fee - lump sum AMD 13.000-25.000 in case of real estate pledge
• Real estate collateral registration fee - up to AMD 26,000
• Collateral payments (for common reference and pledge) - lump sum AMD 5,000
N 1.General Documents Notes
1. Application In the form provided by the Bankv R
2. Charter copy R
3. IDs of the director, founders (shareholders) stipulated by the Armenian Law (Passport, identification card, etc.), as well as a statement of actual place of residence ** (copy provided by the bank) Copies/ in the case of founders (participants) as required R
4. Financial data in the form required by the loan officer for the last 2 reporting periods (e.g. for financial position, financial results, cash flow) copy R
5. Statements of accounts with other banks (for the last 12 months) original AR
6. Current loan, collateral and other contracts copy AR
7. Certificate or lease of ownership of the place of business copy AR
8. Business plan or feasibility study original AR
9. License (in case of activity requiring licensing) copy R
10. Other documents (calculations and reports presented to the State Income Committee, last act of tax monitoring, statement on loan accounts, insurance contracts/policies, official audit report, procurements issued by the director, etc.) Copy/ prescribed by law statutory audit companies present the financial statement package and audit report AR
11. Reference about the obligations to the state budget original AR
12. Other documents (construction, contractual contracts, sales contracts, service contracts, invoices, fixed assets, raw materials contracts, invoices) AR
13. Resolution (excerpt from the resolution) of the authorized body (Board or General Meeting, sole shareholder) about receiving the loan and/or pledging the suggested collateral original R
14. Statement from the state register about the changes of the members, the director as well as the charter Original/is required by the Bank when it is not possible to obtain information R
15. For Joint Stock companies Extract from the register about the shareholders of the company issued by the Central Depository of RA. original R
N 2. Collateral documents Notes
1. Ownership certificate of the collateral copy R
2. ID (passport, identification card, etc) of the owner and/or the guarantor(s) of the collateral stipulated by the Armenian legislation, if available, and in case of absence - relevant reference, as well as a statement of actual place of residence ** (copy provided by the bank) copy R
3. ID (passport, identification card, etc) of the collateral’s owner(s)’ spouse stipulated by the Armenian legislation, , if available, and in case of absence - relevant reference, as well as a statement of actual place of residence ** (copy provided by the bank) copy R
4. Marriage certificate of the owner(s) of the collateral. copy R
5. Legal documents of the company owning the collateral and ID of the director. copy R
6. Statement from the state register/depository about changes in the statute, shareholders and director of the company owning the collateral. Original/ if the bank receives a certificate from the state through an online inquiry, it is not required by the customer AR
7. Resolution of the authorized body of the company owning the collateral about making a pledge. Original R
8. Report on the assessment of the collateral For the beginning it can be a statement R
9. Property Mapping Report Original /is required in case of land pledging R
10. Vehicle registration certificate / technical passport copy R
11. State registration certificate for the ownership registration of copy/(to be presented after the credit committee approves the loan) R
12. Statement about the limitations on the disposal of the vehicle original (to be presented after the credit committee approves the loan) R
13. List of pledged fixed assets Stating the name, quantity, model, production date, country of production, serial number R
14. Technical passport(s) of the fixed asset(s) copy R
15. List of pledged working capital Stating the name, measurement unit, quantity, price, amount R
16. Consent from the collateral’s lessees original (to be presented after the credit committee approves the loan) AR
17. Insurance certificate(s) of the collateral copy (to be presented after the credit committee approves the loan) AR
18. Other documents (documents certifying the purchase of the collateral, procurements issued by the pledgor, spouse’s notary certified consent) Original/ copy AR

* In case of prime security the of the documents might not be required by the Bank.

-The Bank might require the client to insure the collateral.

-The documents requested by the Bank can be required (R) or at request (AR)

-Documents listed in point 10 through 15 are required if the collateral is a vehicle or other fixed/working asset.

**If necessary, at the request of the Head of Lending Department or Customer Service Department, the client shall provide a statement from the Passport and Visa Department of the RA Police or the condominium of residence.

- Penalties will accrue if you do not fulfill your obligations on time.

- In case of overdue loan liabilities, the accumulated penalties will be paid at first, then the accumulated bank interest rate, then the contractual interest, then principal amount.

- Attention: in case of default or failure to fulfill your obligation, the creditor sends this information to the credit bureau within 2 (two) business days where your credit history is recorded.

- You have the right to get your credit history information free of charge once a year from the credit bureau.

- Attention: bad credit history can prevent you from getting a loan in the future.

- Warning: Your property (home, car or other) may be confiscated by law if you fail to make your interest and loan repayments on time.

- Changes in foreign exchange rates may affect loan repayments.

- In case of default on your pledge account, if the pledge is not sufficient to cover your credit liabilities, repayment of liabilities on your other property (if any are) is possible.

- To find out the terms, conditions and tariffs for providing statements, their copies, references and other information during the term of the contract, please consult the page "Accounting for Legal Entities and Individual Entrepreneurs"