Ameriabank announces launch of two unprecedented business loan products
YEREVAN, December 10. /ARKA/. Ameriabank had developed and launched on December 8 two unprecedented lending products, which are expected to enable businesses to reduce their credit burden and build up new development opportunities.
"The goal of the bank is to raise its loan portfolio and financing," Ameriabank Retail Banking Director Arman Barseghyan said at a press conference on Thursday.
Interest-free loans with no obligation to pay principal amount in the first 6 months
This offer is designed for businesses with annual turnover of up to AMD 750 million. Businesses will pay neither interest nor the principal amount for the first 6 months. During these months, the interest rate on the loan will be 0%, and no interest will accrue.
According to Barseghyan, loans will be available in three currencies - AMD, US dollars and Euros - ranging from AMD 20 million to 150 million.
"Interest will begin to accrue after 6 months, and it will be quite favorable and competitive. Specifically, after applying 0% for the first six months, starting from the 7th month, the rate for loans in AMD will be 11.9%, in US dollars - 7.9% and in euros - 6.9%. The effective interest rate on the loans will be, respectively, 10.5% in AMD, 6.5% in USD and 5.5% in Euros. These rates are truly unprecedented," Barseghyan said.
He also said that these loans will be given with repayment period from 4 to 10 years, and the offer will be effective through March 31, 2022.
A 5% rebate on the loan amount
Under this offer, the clients will be able to relocate their loans from other banks to Ameriabank and receive a lump sum of 5% of the loan amount. This will allow them to repay the penalty for premature repayment of loans in other banks, and if the amount is less than 5%, the client may dispose of it at his/her discretion. The bank assumes all the costs of the collateral. There will also be no loan origination fee.
"The idea is as follows. Until March 31st, 2022 when relocating loans of AMD 20 million to AMD 150 million to Ameriabank, the client will receive a lump sum of 5% of the loan amount, afterwards the bank will apply the interest rates I have said above: 11.9% for loans in AMD, 7.9% for loans in USD and 6.9% for loans in Euro. The repayment term is the same: from four to ten years," Barseghyan said.
He also mentioned that regarding client’s credit history and credit assessment the same criteria are applied as those applied by Ameriabank to the credit line in general.
"These offers are part of our strategy designed to help boost small and medium businesses and increase the respective loan portfolio, as well as digitization," explained Barseghyan.
For the new terms and conditions of business loans follow this link.
About Ameriabank
Ameriabank is a dynamic and rapidly growing bank in Armenia. It is one of the largest and most stable financial institutions in the country, with a clearly defined digital agenda. Being the first investment bank in Armenia, Ameriabank offers a wide range of innovative banking services. Ameriabank is a universal bank, rendering corporate, investment and retail banking services in a comprehensive package. For more information please visit www.ameriabank.am. ($1 - $495.24 AMD) -0-
