Loan purpose

Participation or acquisition of shares in the charter capital of legal entities operating within and outside the Republic of Armenia, including through the investment of property to be acquired in the charter capital of a legal entity,
For the purpose of engaging in commercial activities operating within or outside the Republic of Armenia, including acquiring fixed assets and engaging in commercial activity using that property, etc.
Investment outside the Republic of Armenia – acquisition of immovable or movable property

Description of the borrower

Resident and non-resident natural person of the Republic of Armenia whose age at the end of the loan term does not exceed 70 years.

Loan currency

֏ $ €

Loan amount

15,000,001 - 200,000,000 ֏

40,000 - 500,000 $

40,000 - 500,000 €

ATTENTION CHANGES IN THE EXCHANGE RATE OF FOREIGN CURRENCY MAY AFFECT LOAN REPAYMENTS.

Loan term

With fixed interest rate 1–60 months
With floating interest rate 60–180 months

Annual nominal interest rate

With fixed interest rate

֏ 15%

$ 11%

€ 9%

With floating interest rate

֏ first 3 years 14%, then floating
$ first 3 years 10%, then floating

€ first 3 years 8%, then floating

Annual effective interest rate

With fixed interest rate

֏ 16.33%

$ 11.81%

€ 9.61%

With floating interest rate

֏ 15.04 - 15.18%

$ 10.56 - 10.70%

€ 8.38 - 8.53%

IN CASE OF A FLOATING INTEREST RATE, THE LOAN’S ANNUAL NOMINAL INTEREST RATE IS REVIEWED BY THE BANK NO MORE THAN TWICE A YEAR. THE MAXIMUM THRESHOLD FOR THE INCREASE AND DECREASE OF THE ANNUAL NOMINAL INTEREST RATE IS SET AT +3/-1 PERCENTAGE POINTS. IF THE PRIMARY OR SECONDARY INDEX IS A NEGATIVE NUMBER /LOWER THAN ZERO/, THE INDEX IS CONSIDERED 0 /ZERO/.

Security

As security may serve property acceptable to the Bank:

real estate,
vehicle,
monetary funds,
bonds,
pledge of precious metals,
other collateral.

One-time loan disbursement fee

0.5% of the loan amount

Maximum loan-to-collateral value ratio

70% of the collateral’s liquidation value

Insurance

Property and accident insurance may be required – in the amount of the outstanding loan balance.

Guarantee

A guarantee by a physical or legal entity acceptable to the Bank may be required.

IN CASE THE BORROWER FAILS TO FULFILL THEIR OBLIGATIONS, THE GUARANTOR IS OBLIGED TO PAY INSTEAD OF THE BORROWER, AND THE GUARANTOR’S CREDIT HISTORY WILL ALSO BE AFFECTED, AND IT IS POSSIBLE THAT THE GUARANTOR MAY LOSE THEIR OWN PROPERTY.

Repayment of overdue obligations

For each overdue day, a penalty of 0.1315% of the unpaid amount is charged.

Early loan repayment

In case of early loan repayment, if provided by the loan agreement, the Bank has the right to demand from the client to pay a penalty of up to 5% of the amount being repaid early.

Decision-making and client notification regarding loan disbursement

1–7 working days from the date of receipt of the required documents package, after which the client is informed within 1 working day.

Loan disbursement period

1–7 working days after the decision to grant the loan, upon submission of the required documents.

Validity of loan approval decision

30 days

Loan disbursement location

Loans are formalized in the Bank’s branches and Central Office.

Loan disbursement method

Non-cash, through the client’s account opened with the Bank.

Fee for reviewing loan conditions

20,000 AMD

Fee for consents provided by the Bank

10,000 AMD

Repayment method

annuity (monthly equal repayments of principal and interest)
differentiated (equal principal repayments and monthly interest payments)
Individual repayment schedule

ATTENTION:
LOAN INTEREST AMOUNTS ARE CALCULATED BASED ON THE NOMINAL INTEREST RATE, WHILE THE ANNUAL EFFECTIVE INTEREST RATE SHOWS HOW MUCH THE LOAN WOULD COST IF INTEREST AMOUNTS AND OTHER PAYMENTS ARE MADE WITHIN THE DEFINED TERMS AND AMOUNTS. YOU CAN FIND THE PROCEDURE FOR CALCULATING THE ANNUAL EFFECTIVE INTEREST RATE IN THE «ANNUAL EFFECTIVE INTEREST RATE CALCULATION GUIDE».

METHOD OF COMMUNICATION WITH THE BANK

«YOU HAVE THE RIGHT TO COMMUNICATE WITH INECOBANK CJSC IN YOUR PREFERRED WAY — BY POSTAL SERVICE OR ELECTRONICALLY. RECEIVING INFORMATION ELECTRONICALLY IS THE MOST CONVENIENT: IT IS AVAILABLE 24/7, FREE FROM THE RISKS OF LOSING PAPER INFORMATION, AND ENSURES CONFIDENTIALITY.

YOUR FINANCIAL INFORMANT

«YOUR FINANCIAL INFORMANT» – WWW.FININFO.AM, IS AN ELECTRONIC SYSTEM THAT FACILITATES THE SEARCH, COMPARISON, AND SELECTION OF THE MOST EFFICIENT OPTION FOR SERVICES OFFERED TO INDIVIDUALS.

Investment loan