IDBusiness Shoppy Package Overdraft

IDBusiness Shoppy Package Overdraft

Use the package provided for partners accepting Idram contactless payments

Currency
֏
Overdraft
Up to 50 mln ֏
֏ bank account
Free of charge
Visa Business card
Free for the first year

General

General
Tariffs
Documents
IDBusiness Shoppy Package Overdraft

IDBusiness Shoppy Package Overdraft

Accept contactless payments with Idram system and use the preferential overdraft package provided by IDBank. Within the scopes of this package you will receive overdraft amounting to up to AMD 50 000 000 as well as Visa Business payment card with one year of free service, free AMD account and much more.

Advantages

Connection to IDBusiness system
Free of charge
Overdraft
Up to AMD 50 mln
Visa Business payment card
Free for the first year of card operation
֏ bank account
Free of charge

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IDBusiness Shoppy Package Overdraft
IDBusiness Shoppy Package Overdraft
Overdraft - Up to AMD 50 mln
Visa Business card - Free for the first year of card operation
֏ bank account - Free of charge
Connection to IDBusiness system - Free of charge
Business mortgage
ID-EIB-III Project
Energy loan
The loan product is available in AMD and USD
Starting as low as 8.5%
Maximum 180 months
Low interest rate - Starting as low as 8%
Maximum 90 months
Up to 500 000 000 ֏
Further saving - Saving due to energy-efficient system
Starting as low as 8.5%
Low Commission fee - Starting as low as 0.5%

Special offer

Start Package

Start Growing Your Business - Get the Base of Services Overdraft opportunity in the amount of 500,000 AMD, with an actual annual interest rate of 1․55%, for a period of 24 months, etc. Moreover, the possibility of online application և the most important առանց without hidden commissions.

IDBusiness Shoppy Package Overdraft - Special offers
Client
RA resident legal entities and private entrepreneurs (“Idram” LLC partners accepting contactless payments)
Purpose
overdraft extended through Visa Business payment card for the purpose of replenishment of working capital
Currency
AMD
Minimum amount
1,000,000
Maximum amount
50,000,000
Minimum term
6 months
Maximum term
36 months
Nominal annual interest rate
starting from 16%
Effective annual interest rate
17.1-18.5%
Monthly service fee
not defined
Loan application review fee
not defined
Disbursement fee
not defined
Overdraft amount and interest amount repayments
Mandatory monthly accomplishment of the card account in the aggregate amount of the 20% of the used overdraft amount as of the last day of the previous month and accumulated interest amounts before the 15th of the current month,

repayment of the total overdraft amount at the end of term. Repayment of interest amounts – through depositing funds to the bank/card account in the amount of accrued interest amount per deposit.

Moreover, in certain cases according to the decision of the Bank’s competent body interest may not be calculated towards the overdraft amounts used in a non-cash way for the preceding month (except for card to card transfers, intrabank and interbank transfers on the RA territory through the Bank-Client system and transfers between personal accounts),

if the client repays the overdraft amount used in the mentioned way before the 15th of the following month.
Minimum business activity term (uninterrupted)
6 months
Provision of Visa Business payment card
According to tariffs applied by the Bank (except for the annual card service fee which is not defined for the first year of card activity).
Other requirements to the borrower
In case of borrowers with a status of a PE the age of the latter must not exceed 65 years by the overdraft repayment date.
Requirements to the borrower’s credit history
1. Absence of overdue/classified liabilities as of the date of overdraft extension,

2. Absence of more than 30 overdue days in the 12 months prior to the submission of the application
Security
• Creditworthiness assessment, • real estate property,

• Fixed assets /equipment, technical appliances, other property/,

• Means of transportation,

• Commodities in circulation,

• Right to receivables,

• Financial flows (future cash flows),

• Guarantees, warranties,

• Funds,

• Precious metals (items),

• Shares,

• Securities,

• Pledge of rights,

• Other property of property rights not, prohibited by RA legislation
Loan/Collateral (estimated liquid value of the collateral) ratio
According to the decision of the Bank’s competent body maximum 50-100% depending on the type of collateral (in case of loans secured by property collateral). According to the decision of the Bank’ competent body the loan can also be extended without security of property collateral or simultaneously with the security of property collateral and other security (guarantee, future cash flows, property right etc.).
Collateral insurance
according to the decision of the Bank’s competent body insurance of the collateral can be required from of the loan balance or the estimated market/liquid value of the property
Bank account opening and servicing
one AMD bank account is opened free of charge
Fines, penalties
penalty on overdue overdraft amount – 0.1 per day,

penalty on overdue interest amount – 0.1% per day,

no early repayment penalty is defined
Location of application acceptance and overdraft processing
all branches of the Bank
Positive factors of extension
1) good credit history,

2) positive creditworthiness estimation,

3) sufficient financial condition,

4) good reputation,

5) other factors.
Rejection factors
1) bad credit history,

2) negative creditworthiness estimation,

3) ՓԼ/ AML/CFT restrictions,

4) insufficient financial condition,

5) providing false or unreliable information,

6) providing such information that calls into question the return of the overdraft,

7) other factors.
Maximum decision-making term
up to 3 business days after submission of the package of complete documents required by the Bank
Term for notifying the client about the decision
1 business day
Decision validity term
30 business day
Decision reaffirmation term
maximum 2 times under the conditions of overdraft extension applied as of the date of reaffirmation
Overdraft extension term
Maximum 3 business days after submission of the package of complete documents required by the Bank and registration of the right of pledge after the decision on overdraft extension has been passed, unless the client wishes to receive the overdraft later while observing the term mentioned in paragraph 28
Required documents
60.57 KB

Apply now

Overdraft up to 50 mln ֏
Visa Business card free for the first year

Code
+374 (Armenia)
+375 (Belarus)
+7 (Russia)
+32 (Belgium)
+1 (USA)
+1 (Canada)
+49 (Germany)
+86 (China)
+995 (Georgia)
+380 (Ukraine)
+33 (France)
+39 (Italy)
+34 (Spain)
+971 (UAE)
Branch
Vanadzor branch
"Echmiadzin” branch
Davtashen branch
Gyumri branch
IDBank Head Office
Abovyan branch
“Vardanants” branch
"Shengavit" branch
"Nor Nork" branch
"Malatia" branch
"Centre" branch
"Baghramyan" branch
"Arabkir" branch
"Erebuni" branch
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Information updated 02.11.2021 02:17
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