Business credits insured with pledge

  • Up to 48 months
  • 2000001 ֏ - 5000000 ֏

Credit calculator

For those who want to get as much money as possible.
Credit amount
2000001 5000000
1 months 48 months
  • Monthly fee
    ֏ - ֏
  • Credit Interest
    18 % - 21 %
  • Credit amount
An example of the calculation of interest rate, it is for informational purposes and is not a public offer.



1. Targeted geography

RA and NKR


2. Target market

Resident  persons registered in the RA/NKR

3. Credit amount 

2 000 001 – 5 000 000 AMD,  but no more than 40-60% (depending on the type of the pledge) of the value of the pledge

4. Credit Currency  and the Type of one time Disbursement 

Armenian Dram1

Cash and via transfer2

5. Credit Terms

Maximum 48 months

6. Credit Interest 

Product A

  • 21% pa for the 1st time lending
  • 19% pa for the 2nd time lending
  • 18% pa for the lending more than 2 time

Product B

20% pa

Product C

20% pa

Product D

18% pa
  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 

Product A

  • 1.0% one-time payment

Product B

  • 3.0% one-time payment

Product C

  • 3.0% one-time payment

Product D

  • 6.0% one-time payment
  calculated on the disbursed amount and charged at disbursement time

8. Monthly service fee 


9. Principal and Interest payments3

Product A

  • Differential payment - Principal is paid in equal monthly installments, except grace period months
  • Grace period of maximum 6 months per credit year4 is available
  • Interest is paid on monthly bases

Product B

  • See Product A

Product C

  • Annuity option - The Principle amounts and interest are paid in equal monthly installments, except grace period months
  • Interest is paid on monthly bases

Product D

See Product A

10. Security 

1. Real estate (land, building, house, apartment and etc.), and/or

  • Pledge period max 10 years
  • Requirement of insurance based on the type of pledge
  • Valuation done by independent valuator before pledging
  • The valuation and pledging expense are incurred by pledger
  • Necessarily also one guarantor

2. Vehicle or agricultural machinery, and/or

  • Pledge period final date of credit repayment
  • Mandatory insurance
  • Valuation done by independent valuator (in case of vehicle the valuation can be done by respective employee of AREGAK UCO CJSC upon availability)  before pledging
  • The valuation and pledging expense are incurred by pledger
  • Necessarily also two guarantors

3. Other pledge and/or guarantor/s based on the results of credit analysis

11. 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.  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 may have only one Business Credit insured with pledge and cannot receive Business (without pledge) and Express/ Express Credit Line simultaneously.

1. The payments of service fee, interest and penalties of the credits disbursed in USD shall be made in AMD based on the exchange rate defined by CBA on the repayment day."

"2. Legal entities credit disbursement can be performed only via transfer."

"3. If the repayment day is a non-working day then the repayment day is considered the next working day following the non-working day."

"4. The credit year is considered each 12 month after the credit disbursement."



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.






/If applicable/


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)
  • Other documents


Private entrepreneur and legal entities


  • 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)


For the legal entities as well as


  • Charter with amendments and participants
  • Certificate from the State registry about the changes in the Charter and participants
  • The participants’ or shareholders’ decision about borrowing the credit
  • Reference about the debit and credit liabilities (mentioning the size of the liability and terms of repayments)
  • Reference about participation (more than 10%) in other legal entity



For Joint Stock Companies reference about the shares


  • From Central Depository for Open Joint Stock Companies
  • From the registrar responsible for Closed Joint Stock Companies


For guarantor/s


  • passport/identification document  and social card (if available)
  • Reference from the employer and/or other document about the income (reference on income from Nork Information System for the last 6 months or statement on bank account for the last 3 months), certificate (s) of ownership
  • 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.