Agricultural “Subsidized” Credits

  • Up to 36 months
  • 3000000 ֏ - 5000000 ֏

Credit calculator

For those who want to get as much money as possible.
Credit amount
3000000 5000000
1 months 36 months
  • Monthly fee
  • Credit Interest
    13․1 %
  • 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), SEs, legal entities, cooperatives engaged in agriculture  
3․ Purpose of loans
  • Acquisition of mother bees, bee colonies, as well as beehives,
  • Construction and technological support of barns for livestock,
  • Acquisition of farm animals1,
  • Acquisition of fodder,
  • Acquisition of seeds, seedlings and plants,
  • Acquisition of agricultural land,
  • Acquisition of working capital and services for cultivation of soil and crops, for implementation of agrotechnical measures (except for the means acquired / to be acquired through the programs mentioned in point 12),
  • Installation of modern irrigation systems in the household plots,
Construction and reconstruction of buildings and structures of for the agro-processing industry

4. Credit amount2

3 000 000-5 000 000 AMD  

5. Credit Currency  and the Type of one time Disbursement 

Armenian Dram

Via transfer3

6. Credit Terms

Maximum 36 month4

7. Credit Interest 

13.1% pa

13․92% actual

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”, interest rates payable by borrowers will be as followings:

0% for the subjects in near the border settlements according to the list defined by the RA Government decision N 1444-N of December 18, 2014.

3% for agricultural cooperatives

5% for other subjects


 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
  • in case of non-submission of the insurance  contract defined by the clause 23 of this credit product terms
It is calculated on the actual outstanding balance of the Credit amount.

8. Disbursement fee 


9. Monthly service fee 


10. Principal and Interest payments6

  • Principal is paid in equal monthly installments, except grace period months
  • Based on the business type, there might be maximum 6 months grace period7 
  • Interest is paid on monthly basis  

11․ Insurance

After concluding the loan agreement, the beneficiaries credited for the cultivation of crops included in the list8 of insured crops under the "State Support Program for the Implementation of the Pilot Program for Introduction of the Insurance System in the Agriculture Sector" must submit a copy of the agricultural insurance contract with the insurance company for the current or the next agricultural year.
12. Other requirements
  • The Borrower shall not have in total more than 30 days delay per ACRA query for 12 months following the credit disbursement
  • For the same purpose and at the same time, the Client should not be beneficiary of the following RA Government subsidy programs:
  1. Interest rate subsidy program for loans to the agro-processing sector for the purchase of agricultural raw materials
  2. Intensive horticulture development program in the Republic of Armenia
  3. 2021-2023 program for the introduction of modern technologies and the promotion of non-traditional high-value crop cultivation
  4. Program for financial leasing of equipment for agri-food sector in the Republic of Armenia
  5. Cattle breeding development program in the Republic of Armenia for 2019-2024
  6. Sheep and goat breading development program for the Republic of Armenia for 2019-2023
  7. State-support programs for the construction or reconstruction of small to medium-sized "smart" barns and their technological support

13. Security 

  • Three guarantors, of which at least two guarantors are with salary and/or other income proved by the document, and at least one guarantor is a family member.

Upon necessity additional guarantor(s) may be required with salary and/or other income provided by the document or with real estate ownership right, firm pledge.

* Documents containing respective information on salary (reference, contract, excerpt from the order, statement or turnover on bank account, Nork query etc.)


14. 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.

"1՛ According to Article 3, Clause 18 of the RA Law on Veterinary Medicine, the following are considered agricultural animals: large and small cattle (cow, buffalo, sheep, goat), pig, horse, chicken, turkey, quail, goose, duck, rabbit, ostrich, bee, silkworm, etc., which are kept for the purpose of obtaining raw materialsand food products of animal origin

"2" Тhe Borrower may have 1 “Subsidized” agricultural credit. Total amount of agricultural “Subsidized” and Agro/ Business “Partner” (if the Borrower has Business credit without collateral, it is considered as Agro/ Business “Partner” credit) loans cannot exceed 5 000 000 AMD. The total sum of agro/ business Micro and agro/ business Macro credits (as well as Group Guaranteed Micro, Micro Express, Express, Express Credit Line, Macro) cannot exceed 3 000 000 AMD at the moment of Agricultural “Subsidized”  Credit disbursement. The borrowers may have Consumer Credit/s

"3" From the moment the RA Law on “Non-Cash Transactions” enters into force, the loan disbursements will be carried out in accordance with the provisions of this law. 

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

5" .

6If the repayment day is a non-working day then the repayment day is considered the same day of the next week and interest amounts calculated as of actual repayment date are paid.

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

"8" The following crops are included in the list of crops to be insured within the framework of the "State Support Program for the Implementation of the Pilot Program for Introduction of the Insurance System in the Agriculture Sector" approved by the RA Governmentc decision N 1485-L of October 24, 2019: apricots, grapes, peaches, apples, plums, cherries, autumn և spring grain, watermelon և melon, potatoլ


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 and legal entity

  • 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

Legal entity

  • Company Charter with all further changes and amendments
  • Reference from the State Register on the change of the Charter and participants
  • In cases defined by the legislation, the decision of the general meeting of participants or shareholders on receiving a loan
  • Declaration on receivables and payables of the company (which should include the amounts of debts receivable and payable and their terms)
  • Declaration on holding shares/participation in another legal entity (more than 10%)

In case of Joint Stock Company, also Reference on shareholders' shares

  • For an Open Joint-Stock Company, issued by the Central Depository
  • For a Closed Joint-Stock Company, issued by the entity keeping shareholders’ register

For guarantor/

  • 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

Individuals (above the age of 18), SEs, legal entities, cooperatives engaged in agriculture

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.