Subsidized Agro credits

  • Up to 24 months
  • 300000 ֏ - 1000000 ֏

Credit calculator

For those who want to get as much money as possible.
Credit amount
300000 1000000
1 months 24 months
  • Monthly fee
  • Credit Interest
    12.25 %
  • Credit amount
An example of the calculation of interest rate, it is for informational purposes and is not a public offer.



1. Targeted geography


2. Target market

Individuals (above the age of 18) engaged in agriculture and SEs  

3. Credit amount 

300 000-1 000 000 AMD  

4. Credit Currency  and the Type of one time Disbursement 

Armenian Dram

Cash and via transfer1

5. Credit Terms

Maximum 24 month2

6. Credit Interest 

12.25% pa


0%- in case of subsidization of the credit interest amount in accordance with the RA Government Program “ On subsidizing  the interest rates of the credits disbursed to the agricultural sector”


 After the credit disbursement the Credit interest rate can be changed and defined to the extent of twice of the interest rate specified by the RA Central Bank in the following cases: 

  • In case of overdue liabilities of more than 60 days in the previous 12 months of the given credit during the credit validity term
  • In case the credit is not classified as standard (there are overdue days as of the last day/s of the month)
  • in case of non-purposeful usage of the credit
  • in case of identifying faults and/or noncompliances in the data submitted by the Client
  • in other cases defined by the Contract
It is calculated on the actual outstanding balance of the Credit amount. Except if there is overdue Credit amount the interest is calculated on monthly outstanding balance of the Credit amount defined in the Repayment schedule.

7. Disbursement fee 


8. Monthly service fee 


9. Principal and Interest payments3

  • Principal is paid in equal monthly installments, except grace period months
  • Based on the business type, there might be maximum 3 months grace period, which is defined starting from the repayment date
  • Interest is paid on monthly basis     
10. Other requirements
  • FICO scores of the Client’s credit history ≥ 600
  • The Client shall not have total 30 days delay per ACRA query for 12 months following the credit disbursement
  • The Client shall not apply to the other RA Government subsidization programs for the same purpose at the same time

In case of being Sole Entrepreneur, the Client shall have favorable tax history: 

  • Shall not engaged in the administrative proceeding on charging the non-fullfilled tax liabilities during 365 days following the credit application submission date or
On the credit application submission date as of December 31, 2019 the current overdue tax liabilities has not exceeded 1% of the total sum of the repaid tax liabilities from the joint treasury bill during 2019, state duties paid during 2019 and balance of the joint treasury bill as of December 31, 2019  

11. Security 

  • One guarantor for the credits up to 500 000 AMD
  • Two guarantors for the credits exceeding 500 000 AMD


12. Fines and Penalties 

  • In case of delays

0.13% daily penalty, which is calculated on the amount due that month per repayment schedule, but not paid. In case of the end of the credit repayment term, the amount to be paid in the given month is considered as the amount paid in the last month.

The calculation of penalties shall start from the delay of each repayment day defined by the Repayment Schedule and stop on the full repayment day of the overdue liability.

  • In case of partial or early full repayment - 0.0%

*The total amount of all penalties defined by the Contract cannot exceed the outstanding debt amount available at that moment.

*The Borrower can only receive one Micro Express Credit.

1.Legal entities credit disbursement can be performed only via transfer on the Borrower’s bank account.

2. The mentioned term can be in average 20 days more based on credit disbursement day.

3. If the repayment day is a non-working day, then the repayment is considered the same day of the next week and the interest amounts accrued as at the actual repayment day shall be paid.

"4. “Grace period” is the period, during which no principal payments of Credit amounts are considered."




In case if the Borrower fails to repay the credit amount and interests in proper and timely manner, negative information on him/her will be recorded in the Credit Bureau.

The Pledged property can be confiscated by the order defined by Law, if the Borrower does not repay the credit and interest amounts in a proper and timely manner.

The Annual Actual Interest specifies the extent of the credit amount in case of repaying interests and other fees in a timely and proper manner. The calculation order of the Annual Actual Interest is presented below:


The Calculation of the Annual Actual Interest


Article 13. The formula and Explanations of AAI calculation


  1. The Annual Actual Interest is calculated taking into account the following formula:



i - The Annual Actual Interest(AAI).

A -The Credit amount (The primary credit amount disbursed by the creditor to consumer).

n - The number of the credit repayment.

N –The number of the last credit repayment.

Kn- the credit repayment amount.

Dn- The period between the credit disbursement and credit repayment dates expressed by the number of the days.

i -the actual annual interest can be calculated, if the other data of the equation is known from the Credit Contract etc.

 Article 14.  The Calculation of the Actual Annual Interest

1. The Actual Annual Interest is calculated at the time of signing the Credit Contract, assuming, that the Credit Contract will be effective in the manner specified by the Contract and the Parties who signed the Credit Contract shall fulfill their liabilities in a proper and timely manner.

2. In case if the Credit Contract specifies provisions which allow deviations and changes in the number and extent of interests and/or other fees included in the total crediting cost of the consumer and it is impossible to identify the number of changes, the Annual Actual Interest shall be calculated so as the interests and/or other fees included in the consumer’s total crediting cost shall be fixed and applied till the end of the Credit Contract term.

3. The following principles are effective in case of calculating the actual annual interest (upon necessity):

1 In case if the credit maximum amount is not specified by the Credit Contract, the disbursed maximum credit amount is one million AMD.

2) If the Credit Contract specifies that the consumer can receive the credit amount part by part, or can choose the date of the credit disbursement, then it’s considered, that the credit amount was disbursed to the consumer totally at the moment of contract signing.

3) In case if the Credit Repayment Schedule or other terms and conditions of the credit repayment are not specified by the Credit Contract, the deadline for the credit repayment is one year.

4) In case if the credit contract defines more than one credit repayment term, the credit repayment shall be fulfilled in the nearest term defined by the Credit Contract, if there is not prescribed anything else by the Credit Contract.

4. The Central Bank, in accordance with its legal acts, can define explanations and samples of AAI (Annual Actual Interest) calculation and formula specified by Article 13.




For physical persons

  • passport/identification document  and social card (if available)
  • Certificate of Ownership (if available) of the real estate which relates with agriculture
  • Certificate of registration of agricultural machinery (if available)
  • Certificate of registration of equipment engaged in the agriculture (if available)
  • Reference about the livestock (upon necessity)
  • Reference about family members, residence address (upon necessity)
  • Documents containing respective information on salary/ies (reference, contract, excerpt from the order, statement on bank account, turnover or existence of income in “Nork” system, etc.) and/or other income source proving documents (per Credit Terms)
  • Other documents


Private entrepreneur


  • passport/identification document  and social card (if available)
  • Certificate of state registration
  • Tax Code
  • License in case business required license
  • List of fixed and current assets (upon necessity)
  • Current contracts and agreements related with the business (sale, procurement, lease and other, if available)
  • Invoices, acts, payment orders or requests etc. (if available)
  • Reference from the State Tax Inspection on the liabilities (upon necessity)
  • Financial statements (upon necessity)
  • Statement on the banks for the 12 months (upon necessity)
  • The certificate of payer for the fixed payment (if available)
  • Other documents



For guarantor/s


  • passport/identification document and social card (if available)
  • Documents containing respective information on salary/ies (reference, contract, excerpt from the order, statement on bank account, turnover or existence of income in “Nork” Information system, etc.)and/or other document about the income (per Credit Terms),  
  • Certificate (s) of ownership (upon necessity)
  • Other documents
  • Legal entities 

  • Sole entrepreneurs above 18 years old

  • Individuals engaged in agribusiness above 18 years old 

The credit disbursement may be refused because of:

  1. the false documents,
  2. the required documents have not been submitted,
  3. negative information from the Credit Registry and/or other specialized organization,
  4. absence of required security for credit repayment
  5. other reasons.