General
Advantages
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Special offer
Visa Business card
Use the Visa Business card for enterprises. Make payments all over the world and get one of the many benefits for business for only 5000 AMD per year.
opening
one bank account in AMD free of charge
other conditions of bank account
According to the Information bulletin of tariffs of bank accounts
right to view accounts
free of charge
right to perform transactions
free of charge
other conditions
According to the Information bulletin of tariffs of bank accounts
Visa Business payment card
1. free of charge for the first 3 months, after which AMD 10 000 a month (starting from the 4th month), if the client is included in the list of partners, cooperating with Idram LLC and accepting contactless payments.
2. free of charge for the first 3 months, after which AMD 15 000 a month (starting from the 4th month),
if the client is not included in the list of partners cooperating with Idram LLC or has been included in the past but the cooperation with which has been terminated.
2. free of charge for the first 3 months, after which AMD 15 000 a month (starting from the 4th month),
if the client is not included in the list of partners cooperating with Idram LLC or has been included in the past but the cooperation with which has been terminated.
An overdraft can also be extended upon client's request
According to the Information bulletin of overdraft extended to clients using the Start and Start Max packages
Client
RA resident legal entities and private entrepreneurs
Purpose
Replenishment of working capital
Currency
AMD
Minimum/maximum amount
AMD 500,000, if the client uses the Start package, AMD 500.001-1,000,000, if the client uses the Start Max package
Minimum/maximum term
24 months, if the client uses the Start package, 36 months, if the client uses the Start Max package
Nominal annual interest rate
1%
Actual annual interest rate
For AMD 500,000 overdrafts – 1.55%,
for AMD 500.001-1,000,000 overdrafts –1.53%
for AMD 500.001-1,000,000 overdrafts –1.53%
Monthly service fee
Not defined
Loan application review fee
Not defined
Disbursement fee
Not defined
Method of overdraft extension
Non-cash – through the clients’ bank account (current account, card account)
Frequency of repayment of overdraft amount and interest amounts
Mandatory monthly accomplishment of the bank/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.
– through depositing funds to the bank/card account in the amount of accrued interest amount per deposit.
Minimum business activity term (uninterrupted)
6 months
Requirements to the borrower/guarantor
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/guarantor’s credit history
1. Presence of at least 3 months of credit history throughout the 36 months preceding the application submission date,
2. Absence of overdue/classified liabilities as of the date of overdraft extension,
3. Absence of more than 30 overdue days in the 12 months prior to the submission of the application
2. Absence of overdue/classified liabilities as of the date of overdraft extension,
3. Absence of more than 30 overdue days in the 12 months prior to the submission of the application
Security
Creditworthiness evaluation. In case of overdrafts extended to legal entities – also guarantee of at least one of the Legal entity participants. In case of overdrafts extended to PEs – guarantee of a physical/legal entity as required
Fines, penalties
Penalty on overdue overdraft amount – 0.1 per day. Penalty on overdue interest amount – 0.1% per day. Penalty for early termination of overdraft agreement – not defined
Location of application acceptance and processing
Outside the Bank premises, branches of the Bank, Head office of the Bank
Positive factors of extension
1) good credit history,
2) stable cash flows,
3) good reputation,
4) other factors
2) stable cash flows,
3) good reputation,
4) other factors
Rejection factors
1) bad credit history,
2) insufficient financial condition,
3) providing false or unreliable information,
4) AML/CFT restrictions,
5) providing such information that calls into question the return of the overdraft,
6) other factors
2) insufficient financial condition,
3) providing false or unreliable information,
4) AML/CFT restrictions,
5) providing such information that calls into question the return of the overdraft,
6) other factors
Maximum decision-making term
Up to 2 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 days
Decision reaffirmation term
Throughout 30 business days after the expiration of the decision validity term under the lending conditions applied as of the reaffirmation date
Overdraft extension term
Maximum 1 business day after decision has been passed
opening
one bank account in AMD free of charge, one bank account in a foreign currency free of charge
other conditions of bank account
According to the Information bulletin of tariffs of bank accounts
right to view accounts
free of charge
right to perform transactions
free of charge
other conditions
According to the Information bulletin of tariffs of bank accounts
Visa Business payment card
1. free of charge for the first 3 months, after which AMD 20,000 a month (starting from the 4th month), if the client is included in the list of partners, cooperating with Idram LLC and accepting contactless payments.
2. free of charge for the first 3 months, after which AMD 30,000 a month (starting from the 4th month),
if the client is not included in the list of partners cooperating with Idram LLC or has been included in the past but the cooperation with which has been terminated.
2. free of charge for the first 3 months, after which AMD 30,000 a month (starting from the 4th month),
if the client is not included in the list of partners cooperating with Idram LLC or has been included in the past but the cooperation with which has been terminated.
An overdraft can also be extended upon client's request
According to the Information bulletin of overdraft extended to clients using the Start and Start Max packages
Client
RA resident legal entities and private entrepreneurs
Purpose
Replenishment of working capital
Currency
AMD
Minimum/maximum amount
AMD 500,000, if the client uses the Start package,
AMD 500.001-1,000,000, if the client uses the Start Max package
AMD 500.001-1,000,000, if the client uses the Start Max package
Minimum/maximum term
24 months, if the client uses the Start package, 36 months, if the client uses the Start Max package
Nominal annual interest rate
1%
Actual annual interest rate
For AMD 500,000 overdrafts – 1.55%, for
AMD 500.001-1,000,000 overdrafts –1.53%
AMD 500.001-1,000,000 overdrafts –1.53%
Monthly service fee
Not defined
Loan application review fee
Not defined
Disbursement fee
Not defined
Method of overdraft extension
Non-cash – through the clients’ bank account (current account, card account)
Frequency of repayment of overdraft amount and interest amounts
Mandatory monthly accomplishment of the bank/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.
Repayment of interest amounts – through depositing funds to the bank/card account in the amount of accrued interest amount per deposit.
Minimum business activity term (uninterrupted)
6 months
Requirements to the borrower/guarantor
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/guarantor’s credit history
1. Presence of at least 3 months of credit history throughout the 36 months preceding the application submission date,
2. Absence of overdue/classified liabilities as of the date of overdraft extension,
3. Absence of more than 30 overdue days in the 12 months prior to the submission of the application
2. Absence of overdue/classified liabilities as of the date of overdraft extension,
3. Absence of more than 30 overdue days in the 12 months prior to the submission of the application
Security
Creditworthiness evaluation. In case of overdrafts extended to legal entities – also guarantee of at least one of the Legal entity participants. In case of overdrafts extended to PEs – guarantee of a physical/legal entity as required
Fines, penalties
Penalty on overdue overdraft amount – 0.1 per day. Penalty on overdue interest amount – 0.1% per day. Penalty for early termination of overdraft agreement – not defined
Location of application acceptance and processing
Outside the Bank premises, branches of the Bank, Head office of the Bank
Positive factors of extension
1) good credit history,
2) stable cash flows,
3) good reputation,
4) other factors
2) stable cash flows,
3) good reputation,
4) other factors
Rejection factors
1) bad credit history,
2) insufficient financial condition,
3) providing false or unreliable information,
4) AML/CFT restrictions,
5) providing such information that calls into question the return of the overdraft,
6) other factors
2) insufficient financial condition,
3) providing false or unreliable information,
4) AML/CFT restrictions,
5) providing such information that calls into question the return of the overdraft,
6) other factors
Maximum decision-making term
Up to 2 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 days
Decision reaffirmation term
Throughout 30 business days after the expiration of the decision validity term under the lending conditions applied as of the reaffirmation date
Overdraft extension term
Maximum 1 business day after decision has been passed
Package ''Start'' and ''Start Max''.pdf Apply now
Free opening and service of bank account
Free connection to IDBusiness system
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