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Gold-backed agricultural loans

Gold-backed agricultural loans

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Agro loans: ARARATBANK offers gold-backed loans to producers of agricultural products – plant and livestock farmers.

Agricultural loans shall be disbursed by Stepanakert, Artsakh, Abovyan, Gyumri, Gyumri 2, Tsaghkadzor, Dilijan, Artashat, Ejmiatsin, Vanadzor, Vanadzor 2, Armavir, Sevan, Goris, Masis, Shirak, Spitak, Martuni, Hrazdan, Ashtarak, Cahrentsavan and Ijevan branches.

  • Interest rate

    8-9%

  • Maximum amount

    Equivalent to AMD 2․000․000

  • Minimum amount

    Equivalent to AMD 100,000

  • Currency

    USD

Conditions

 

Loan amount and Currency

Maturity

LTV ratio

Principle and interest repayment Interest rate (annual)

Equivalent to min. AMD 100.000 and max. AMD 2.000.000

70-100 day

Up to 100% of the appraised value

Loan repayment by maturity, charge of interests at the point of loan disbursement for the whole period 8%
101-190 day

Up to 95% of the appraised value

Loan repayment by maturity,  monthly   interest charges 8.5%
191-740 day

Up to 100% of the appraised value

Monthly, even

 

9%

 Loan file processing fee, credit account processing and service fees shall be charged once for the disbursement of gold-backed agricultural loans:    

-  AMD 2.000 in case the loan amount makes up to USD 500, 

- AMD 3.500 in case the loan amount make between USD 501 and USD 1.500 ԱՄՆ, 

- AMD 4.500 in case the loan amount makes between USD 1.501 and USD 3.000 ԱՄՆ,

- AMD 6.000 in case the loan amount makes between USD 3.001 and USD 5.000, 

Foreign exchange rate fluctuations may affect the repayment of USD loans.  

 

Required documents
  • Passport
  • Social security card
Useful information

The loan application will be approved if:

  1. the customer has submitted the complete package of documentation (passport and social security card, employment reference regarding position, salary and work experience in the given company).
  2. After the loan application and the required documentation have been submitted, a query is made ACRA credit bureau regarding the customer’s credit history.
  3. After the Bank discovers that the customer has a positive credit history or no credit history at all, the Bank shall make an evaluation of the customer’s creditworthiness and solvency.
  4. If the evaluation of creditworthiness shows positive results the Bank shall disburse the loan.

 The loan application will be rejected if:

  1. the customer fails to submit all documents necessary for getting the loan (passport and social security card, employment reference regarding position, salary and work experience in the given company).
  2. the customer must have a six-month work experience and must have got a salary for at least 1 month.
  3. the query made to “ACRA Credit Reporting” credit bureau shows that the customer had past-due or classified liabilities within 24 months prior to the loan application (except for repaid guarantees) as well as the total of past-due liabilities exceeded 30 days. 
  4. the customer turned out to be not credit worthy as a result of credit rating.    
  5. the body authorized to take loan decisions rejected the loan application.
  6. the loan has been approved, but the customer has failed to present himself/herself within 10 days after approval or has failed to present the necessary documents.
  7. During the lending process the Bank has received information which prejudices the customer’s solvency.
Attention

Please follow the Armenian version

Gold prices
Gold karat Value per gram of gold (AMD)
585 13․300
750 16.900
875 19.700
916 20.700
958 21.700
999 22.500

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Page updated 15.08.2019 | 09:54

In case of discrepancy between Armenian and English versions of the information, the priority is given to the Armenian version.