Tel.: (374 10) 20 28 22
 
ՀԱՅ
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Services
Agro Loans
This product is intended for small and medium agricultural farms to extend their activities.
 
Services
Agricultural AMD loans

Conditions Description
Name of the product Agricultural AMD loan
Target clientele Loans for the individuals and legal units invoved in agriculture 
Application fee AMD 5000
Currency of the credit AMD
Credit amount
  • AMD 1.500.000– 2.000.000
Loan maturity 3-36 months
Periodic repayments of loan amount and interest rate Monthly
-Each year in January and February, grace period on loan principal repayment is defined. During mentioned months the borrower pays only interest payments.
-Grace period on loan principal repayment can also be defined after 6 moths loan is disbursed, based on the mutual agreement between confirmation cycle and borrower. 
Nominal interest rate  15% 
Loan repayment methodology
  • Repayment of the loan and interests shall be performed on annuity basis (equal monthly installments – principle + interests).
  • The interest rate shall be applied towards the reducing balance.
Security
  • Purchased mobile property
As an additional security
  • Real estate
  • Gold
In addition to the property collateral, guarantors may be required
Loan/security ratio Up to 100% 
  • up to 100% in the case of gold 
  • 70% in the case of rael estate 
  • 40-60 % in the case of mobile property 
Loan up-front fee 3% 
Monthly payment fee 0.5% 
In the case of prepaid loans, the fee is charged according to the number of days used 
Actual annual interest rate  30% - 32%

WARNING
LOAN AMOUNT CALCULATION IS BASED ON NOMINAL INTEREST RATE. ANNUAL ACTUAL RATE SHOWS HOW MUCH WILL THE LOAN COST FOR YOU IF YOU PAY INTEREST AMOUNTS AND OTHER FEES ON TIME. YOU CAN FIND ACTUAL ANNUAL INTEREST RATE CALCULATION FORM IN THIS ADDRESS:
YEREVAN, YERVAND KOCHAR str. 19/19


Actual annual interest rate calculation example: 

Nominal interest rate - 15%
Monthly service payment - 0.5%
Loan disbursment fee- 3%
Loan amount - AMD 1.500.000 
Intermediary fee- AMD 5000 
Loan maturity - 36 months

Total amount to be paid to Organization - AMD 1.287.855 
Actual annual interest rate 30.4%
Insurance
  • Based on the decision of Credit Committee the borrower must must insure the mobile property by loan amount or collateral market cost amount in one of the  insurance companies suggested by Organization or chosen by the borrower. The borrower has insurance costs for the collateral insurance, according to insurance rate, which is 0.5-2.5 % of the loan amount or collateral market cost amount during the loan maturity. 
  • In case of breaking collateral inurance conditions according to the collateral contract, Organization may demand early loan repayment. 
Evaluation of collateral Valuation of the collateral is carried out by mutual agreement between the Borrower and the Company, without additional charges.
Repayment of overdue liabilities For each delayed day a penalty in the amount of 0.3% of the overdue amount shall be accrued starting from the first overdue day. Borrower must pay a charge for each overdue payment:
  • In case of loan contracts from AMD 1.500.001 to AMD 2.000.000  or USD 5.001 to USD 7.000, the payment is AMD 10.000
  • In case of loan contracts for more than  AMD 2.000.001 or  USD 7.001, the payment is AMD 15.000
  In case of failing the obligations, if collateral is not enough  to fullfill the obligation, obligation can be fullfilled by other property owned.  

ATTENTION 

YOUR PROPERTY MAY BE EXPROPRIATED, IF YOU FAIL TO MAKE REPAYMENTS OF YOUR LOAN AND INTERESTS ON TIME.

ATTENTION

IF YOU FAIL TO MAKE THE REPAYMENTS ON TIME THE INFORMATION ABOUT YOU SHALL BE REGISTERED IN THE CREDIT REGISTER.
Conditions of early (including partial) loan repayment In case the borrower pays off the loan there are no additional charges 
Approval period 5 working days after receiving all required documents
Factors having impacting the loan extension • Peculiarities of the economic activities carried out by the borrower
• Financial indicators of the borrower's activity
• History and current state of the credit's business activity
• Credit history 
• Capacity of paying the loan and interest amounts, credit risk
• Compliance with SEF’s requirements of internal regulations
Loan disbursment period The loan is provided within one day, after the credit agreement and its ratification cover the relevant contract and the rights arising from it, are being registered by the state registration body. unless there are no other things  stipulated by the Client and the Company's. 
 Loan registration  place  SEF International UCO branches
Loan aproval unit Defined by other internal regulations of the Company

Sample Loan Repayment Schedule

 Loan amount

 (AMD)

Loan maturity
24 months 36 months
Monthly repayments
1.500.000 80.230 59.948

  For foreign currency loans the interest rates, late payment charges, as well as loan disbursement and service fees are paid in AMD, according to the law about Armenian dram currency regulation and foreign exchange control. Documents required for loan disbursement.

 For individuals
  • Loan application
  • Original and photocopy of the borrower’s passport
  • Photocopy of the borrower’s social security card or a certificate about its' absence  
  • Applicant’s income statement
  • Certificate from residence about family members
  • Ownership certificate for the purchased equipment
  • Ownership certificate for borrower’s personal property
  • Loan officer may require other documents concerning borrower’s solvency.
  • Inquiries from Datalex system about civil, administrative, criminal, bankruptcy orders and payment terms
  • Inquiries from e-register.am and  taxservice.am system about business operating information
For private entrepreneurs
  • Loan application
  • Photocopy of the borrower’s passport 
  • Photocopy of the borrower’s social security card
  • Photocopy of marriage, divorce, death certificate
  • Private entrepreneur’s registration certificate
  • Ownership certificate for the purchased equipment
  • License (if the borrower is engaged in activity that is requried a license)
  • Certificate from borrower’s residention address statement (3rd form) or Passport office
  • Tax, financial and other reports
  • Borrower’s income statement
  • Certificates for other property owned  
  • Loan officer may require other documents concerning borrower’s solvency.
  • Inquiries from Datalex system about civil, administrative, criminal, bankruptcy orders and payment terms
  • Inquiries from e-register.am and  taxservice.am system about business operating information
For legal entities
  • Loan application
  • State register certificate
  • Tax code
  • Legal entity’s decision for receiving the loan
  • Director’s passport and social security card
  • Shareholders’ passports and social security cards
  • License (if the borrower is engaged in activity that is requried a license)
  • Bank account summery
  • Financial reports (Form 1-5)
  • Tax office certificate about payments
  • Loan officer may require other documents concerning borrower’s solvency.
  • Inquiries from e-register.am and  taxservice.am system about business operating information
  • Inquiries from Datalex system about civil, administrative, criminal, bankruptcy orders and payment terms
Branches & Offices

Meghri Branch
26/26 Z. Andranik Street
Meghri
Kentron Branch
6/23 Northern Avenue
Yerevan
Abovyan Branch
Ogostos 23 street, 1/2
Abovyan
Ijevan Branch
A. Meliqbekyan 4
Ijevan
All Branches
Updated: 02.08.2017(12:35)
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