Loans

Apply for a business loan from Inecobank

Ensure the growth and development of your business with the business loans provided by Inecobank. We attach great importance to the needs and requirements of each business. Our experienced and skilled business managers will provide the necessary consulting to come up with the best solutions for your business.


Borrower description
  • RA resident legal entity/sole proprietor
  • RA resident individual with an activity in the field of agriculture
  Fixed interest rate Floating interest rate
 Loan currency ֏  $  €

ATTENTION: IN CASE OF LOANS PROVIDED IN FOREIGN CURRENCY, CHANGES IN CURRENCY EXCHANGE RATE MAY HAVE IMPACT ON LOAN REPAYMENTS
Minimum amount 1 000 000 ֏
2 500 $
2 000 
10 000 000 ֏
20 000 $
20 000 
Maximum amount The limit permissible by the normative of the maximum risk for one borrower defined by the internal legal acts of the Bank.
Maturity term
  • 1-48 months for working capital replenishment

  • 1-60 months for acquisition of fixed assets or for other investments
  • 48-120 months for acquisition of fixed assets for or other investments
 

Annual nominal interest rate


 
AMD
  • 12-19%
  • The interest rate of loans provided by the European Investment Bank (EIB) resource is 9-9.5%.


USD
  • 9-15%

EURO
  • 7-13%
AMD
  • Fixed for the first three years maximum: 11.5-19%, then floating


USD
  • Fixed for the first three years maximum: 8.5-15%, then floating


EURO
  • Fixed for the first three years: 7-13%, then floating

Annual actual interest rate   

  

 
AMD
  • 13.19-24%

USD
  • 9.85-24%

EURO
  • 7.68-24%


THE CALCULATION OF ANNUAL ACTUAL INTEREST RATE FOR COMMERCIAL LOANS IN FOREIGN CURRENCY WAS BASED ON THE RELEVANT AVERAGE EXCHANGE RATE PUBLISHED BY THE CENTRAL BANK OF ARMENIA ON FEBRUARY 14, 2020. THE ANNUAL ACTUAL INTEREST RATE MAY CHANGE DEPENDING ON THE CHANGE IN EXCHANGE RATE PUBLISHED ON THE OFFICIAL WEBSITE OF THE CENTRAL BANK OF ARMENIA.
 
 
The following annual nominal interest rates apply for the fixed-rate loans secured only by cash funds: the interest rate paid for the pledged cash funds + minimum 5% annually, but not less than
  • For AMD-14% annually

  • For USD and Euro- 9% annually

If the type of deposit of the pledged cash funds includes a change in interest rates during the validity of the agreement, then the maximum interest rate of the deposit agreement is taken as a base rate.
Early loan repayment For early loan repayment, in case provided for in the loan agreement, the Bank has the right to require from the customer to pay a penalty up to 5% of the early repaid amount
Overdue liability repayment For each overdue day, the Bank has the right to calculate a penalty of 0.13% 

of the outstanding amount starting from the first day of delay
Security/Collateral
  • Real estate

  • Fixed assets

  • Vehicles
  • Goods in circulation
  • Receivable rights

  • Warranty, guarantee

  • Cash funds

  • Precious metals, valuables

  • Shares

  • Other property

    IF THE BORROWER FAILS TO FULFILL ITS OBLIGATIONS, THE GUARANTOR UNDERTAKES TO PAY INSTEAD OF THE BORROWER, AS WELL AS THE GUARANTOR’S CREDIT HISTORY WILL GET WORSE AND THE GUARANTOR MAY LOSE HIS/HER OWN PROPERTY
LTV ratio 75% of liquidation value of the collateral
Insurance
Non-cash (through the customer's account opened in the Bank)
Way of disbursement

Non-cash (through the customer's account opened in the Bank)

Repayment
  • Annuity (equal monthly payments of principal and interest)

  • Individual repayment schedule (taking into account seasonal factors)
  • Grace period - up to 12 months with interest payment only

Updated as of 04.04.2024 11:37