Acba bank's agricultural loan without collateral is intended for short-term and long-term investments. Develop your agricultural business quickly and easily through electronic means, without visiting the bank.
A repayment schedule tailored to your capabilities, with no early repayment penalties.
You can apply for the loan without visiting the bank by signing the documents electronically.
Maximum transparency, with no fine print.
*up to 36 months for loans of up to AMD 3 million
without collateral or guarantee of 1-2 persons
Nominal Interest Rate
Actual Percentage Rate
Individuals
Identity document
A copy of the document containing the Social Services Number prescribed by law, or the original certificate issued by the state registry authority regarding obtaining or not obtaining a Social Services Number
Copies of guarantors' and/or pledgors' passports
The Bank may, for proper customer due diligence as defined by the RA Law on Combating Money Laundering and Terrorist Financing, based on the “Know Your Customer” principle, request additional documents or other information, as well as ask the customer additional questions during verbal communication
Other documents may also be required, if necessary
Legal entities
Identity document of the founders, director, and chief accountant
Certificate of ownership or lease agreement for the premises where the business operates
License (if the activity is subject to licensing)
Certificate from the tax inspectorate regarding liabilities
Tax reports submitted electronically to the tax inspectorate for the last 1 year and notification confirming acceptance of the reports1
Copy of the certificate of state registration of legal entities (with attachments) and copy of the taxpayer identification number, if necessary2
Certificate from the State Registry Agency of Legal Entities1,2,3
Copy of the charter of the legal entity1
Decision of the authorized body (general meeting) regarding obtaining the loan
Copy(ies) of the guarantor's/guarantors' passport(s)
The Bank may, for the purpose of proper customer due diligence as defined by the RA Law on Combating Money Laundering and Terrorist Financing, based on the “Know Your Customer” principle, request additional documents or other information, as well as ask the customer additional questions during verbal communication
Other documents may also be required, if necessary
1 Documents are required if the data or documents are missing or incorrect in the database of the State Registry Agency of the Ministry of Justice of the Republic of Armenia.
2 The certificate may be obtained from the Bank or the State Registry Agency of the Ministry of Justice of the Republic of Armenia; moreover, submission of the certificate is mandatory for legal entity customers, while for individual entrepreneur customers it is mandatory if the certificate of state registration of legal entities with its attachments is not submitted.
3 May be submitted after the Bank makes a positive decision regarding the provision of the loan.
Loans are provided on a non-cash basis
The decision regarding the loan application is made and/or communicated to the customer by phone call and/or electronic means within a maximum of 3 days after the required package of documents has been submitted
If a positive decision is made regarding the provision of a loan of up to AMD 3 million, the signing of the Loan Package and loan processing may be carried out without visiting the Bank by signing the Loan Package electronically
No penalties are charged for early repayment of loans of up to AMD 5,000,000 or the equivalent in foreign currency
In the event of fluctuations in the interest rates on funds attracted and placed by the Bank in the financial market and/or changes in the financing interest rate and/or the existence of such prerequisites and/or the Borrower's non-purposeful use of the loan, the Bank may unilaterally change the interest rates and fees stipulated by the agreement, notifying the Borrower at least 30 calendar days in advance.
Example of loan interest calculation:
Loan amount - AMD 1,500,000
Loan interest rate - 16.9 %
Loan term - 36 months
Fee - 2.5%
The annual actual interest rate will be - 19.2 %
Daily interest amount will be Loan amount (balance) x Loan interest rate / 365 = (1,500,000 x 16.9 % / 365) = AMD 694.52
“ATTENTION: LOAN INTEREST IS CALCULATED BASED ON THE NOMINAL INTEREST RATE. THE ANNUAL ACTUAL INTEREST RATE SHOWS HOW MUCH THE LOAN WILL COST YOU IN TERMS OF INTEREST AND ALL MANDATORY PAYMENTS RELATED TO THE PROVISION AND SERVICING OF THE LOAN IF MADE WITHIN THE SPECIFIED TERMS AND AMOUNTS. YOU CAN FIND THE PROCEDURE FOR CALCULATING THE ANNUAL ACTUAL INTEREST RATE HERE.”
If the Borrower fails to fulfill the obligations on time, a penalty of 0.13% is calculated for each overdue day.
For foreign currency loans, the exchange rate published on the official website of the Central Bank of the Republic of Armenia as of the date of loan disbursement is used as the basis for calculating the annual actual interest rate; moreover, the annual actual interest rate may change depending on changes in the exchange rate published on the official website of the Central Bank of the Republic of Armenia.
For loans of up to AMD 5 million or the equivalent in foreign currency, the Borrower has the right to unilaterally terminate the credit agreement without giving any reason within 7 working days following its conclusion. In this case, the Borrower is obliged to pay the Lender interest for using the credit, calculated in accordance with the annual actual interest rate stipulated by the credit agreement. No other compensation related to the termination of the credit agreement may be demanded from the Borrower.
For loans of up to AMD 5 million or the equivalent in foreign currency, the Borrower has the right to fulfill (repay) the obligations under the credit agreement ahead of schedule, regardless of whether such right is provided for in the credit agreement.
ATTENTION: WHEN APPLYING FOR A LOAN, THE LENDER WILL PROVIDE YOU WITH AN INDIVIDUAL SHEET OF ESSENTIAL TERMS OF THE CONSUMER LOAN, WHICH WILL PRESENT THE INDIVIDUAL TERMS OF THE LOAN TO BE PROVIDED TO YOU
Foreclosure of Pledge
PLEDGED PROPERTY MAY BE FORECLOSED IF THE BORROWER FAILS TO MAKE INTEREST AND LOAN PRINCIPAL PAYMENTS ON TIME. IF THE VALUE OF THE PLEDGE IS INSUFFICIENT, THE BORROWER'S OBLIGATIONS WILL BE REPAID FROM THE BORROWER'S OTHER PROPERTY.
Information Provided to the Credit Registry
ATTENTION: IF YOU FAIL TO FULFILL OR INCOMPLETELY FULFILL YOUR OBLIGATION, THE LENDER WILL SEND THIS INFORMATION TO A CREDIT BUREAU AFTER 3 WORKING DAYS, WHERE YOUR CREDIT HISTORY IS FORMED. YOU HAVE THE RIGHT TO OBTAIN YOUR CREDIT HISTORY FROM THE CREDIT BUREAU FREE OF CHARGE ONCE A YEAR.
ATTENTION: A POOR CREDIT HISTORY MAY PREVENT YOU FROM OBTAINING A LOAN IN THE FUTURE.
YOU HAVE THE RIGHT TO COMMUNICATE WITH THE FINANCIAL ORGANIZATION IN THE MANNER YOU PREFER, BY POSTAL OR ELECTRONIC MEANS. RECEIVING INFORMATION ELECTRONICALLY IS THE MOST CONVENIENT. IT IS AVAILABLE 24/7, FREE FROM THE RISKS OF LOSING PAPER INFORMATION, AND ENSURES CONFIDENTIALITY.
FOR GUARANTORS
We inform you that:
If the Borrower fails to fulfill the obligations, you will have to make the payments on their behalf, your credit history will deteriorate, and you may lose your property.
You will be provided with a copy of the credit agreement, guarantee agreement, and repayment schedule.
Communication will be carried out in the manner you have selected.
You will be notified 7 days in advance of changes to the terms of the agreement.
A reminder regarding the existing obligation will be sent 1 day in advance.
In case of a delay in loan repayment, you will be informed of this no later than one day afterwards.
THE GUARANTOR HAS THE RIGHT TO
Request information from the lender at any time regarding the outstanding loan balance.
Recover from the Borrower the amounts you have paid for the loan, as well as other damages incurred on behalf of the Borrower.
Financial Assistant
ATTENTION: "YOUR FINANCIAL INFORMANT" IS AN ELECTRONIC SYSTEM THAT MAKES IT EASY TO SEARCH FOR, COMPARE, AND CHOOSE THE MOST EFFECTIVE OPTION FOR INDIVIDUALS.
You can review the agricultural loan tariffs here.
Previous Terms of Loan Tariffs
Qualified Independent Appraisal Companies Cooperating with the Bank
Regarding Credit History and Score Assessment
