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Converse SME

''Converse SME''

The Loan is provided by "Converse Bank" CJSC (hereinafter"the Bank") to legal entities and individual entrepreneurs (hereinafter referred to as the Customer) on the following terms:


Acquisition of fixed assets, replenishment of working capital, repayment of accounts payable


AMD  5,000,001 - 250,000,000 or equivalent foreign currency

Annual interest rates by currencies and maturity









3 - 60 months

Fixed and floating




For the first 12 months, starting from 13%, thereafter - (FR*+1.70)%


For the first 12 months, starting from 8.5%, thereafter - (FR+3.90)%

For the first 12 months, starting from 6%, thereafter - (FR+3.70)%




Starting from 14.50%

Starting from 8.75%

Starting from 7%

61 - 84 months

Fixed and floating



For the first 60 months: 10.5%, thereafter (own resources): (FR+1.20)%, but not less than 12.5%


For the first 12 months, starting from 13%, thereafter - (FR*+1.70)%


For the first 12 months, starting from 8.75%, thereafter - (FR+4.15)%


For the first 12 months, starting from 6.5%, thereafter - (FR+4.20)%




Starting from 14.75%

Starting from 9%

Starting from 7.25%

85 - 180 months

Fixed and floating



For the first 60 months: 10.5%, then (own resources): (FR+1.20)%, but not less than 12.5%


For the first 12 months, starting from 13%, thereafter - (FR*+1.70)%


For the first 12 months, starting from 9%, thereafter - (FR+4.40)%

For the first 12 months, starting from 6.5%, thereafter - (FR+4.70)%


Fixed and floating




For the first 85 months, starting from 14.75%, thereafter (FR+FC)%

For the first 85 months, starting from 9%, thereafter (FR+4.40)%


For the first 85 months, starting from 7.25%, thereafter (FR+FC)%


Application review fee


One-time fee for loan disbursement

3 - 36 months




37 - 60 months



61 - 84 months



85 - 180 months




* FR- Floating Rate is set twice a year by the Bank on the basis of the primary indicators, and in the event of unavailability of the latter - based on secondary indicators. In case of change, the interest rate of the existing agreements changes no sooner than 7 days after the borrower is notified or according to the procedure established by the agreement (depending on the legal status of the borrower).

ü  Key indicators:

-       In case of AMD, the yield curve of 180-day government bonds of the Republic of Armenia, published by the Central Bank of Armenia at 

-       In the case of USD, 6-month secured overnight fund rate in USD (CME Term SOFR 6 Month), which is published on the following link: Term SOFR - CME Group (either by the Bloomberg system: TSFR6M, or by the Reuters system: SR6M),

-       In the case of EUR, the 6-month EUROBOR benchmarks, published on the following link: 6 months Euribor rate ( (by either Bloomberg system: EUR006M, or Reuters system: EURIBOR6MD).

ü  Secondary indicators.

-       In the case of AMD, the weighted average interest rate of AMD deposits with a maturity of 91 - 180 days attracted from legal and individual persons by RA commercial banks as of the last available month,

-       In the case of US dollars, the 6-month maturity yield of the US Treasury bond yield curve,

-       In the case of the Euro, the 6-month interest rate of the German Euro bond yield curve.

In case of transition from the key to the secondary indicator, the surcharge in the calculation of the financing rate is adjusted/clarified by the average of the differences in the interest rates of the key and secondary indicators over the last 3 years.

Provided that the key and secondary indicators become unavailable or their application becomes impossible, the last published indicator of the floating interest rate is taken as the basis for the next period and is fixed for the entire period of the loan, unless otherwise agreed between the Bank and the customer.

The specified Floating Rates are published on the Bank's official website at are available at the Bank's premises.

The Bank may change the floating interest rate of this loan not more than twice a year.  Floating rates are rounded in favor of borrowers up to one decimal.

The FR values as of the date of Termsheet (Information summary) update is set as: AMD – 11.3%, USD – 4.6%, Euro - 2.3%.

List of payments made by the borrower

Collateral valuation

In case of immovable property/real estate from AMD 18,000 – 360,000 (depending on the type and area)

In case of movable property from AMD 10,000 – 50,0000 (depending on the type)


Single reference

Immovable property/real estate - AMD 10,000

Movable property - AMD 0

Registration of the right of pledge in the RA Cadastre Committee

Immovable property/real estate - AMD 27,000

Movable property - AMD 2,000

Notary validation

AMD 20,000

Insurance of the pledged property

- Immovable property/real estate - 0.12 – 0.25 (if required)

- Passenger car (Casco) – 1.5-2.5% (if used as a taxi - 6%)

- Other movable property - 0.185 - 0.5%

- Special purpose movable property - as quoted by the insurance company

Fines and Penalties
The Bank can apply the following penalties and charges:

1. Upon default of due dates under the Agreement, the Borrower pays the Bank a penalty at 0.13% per day of delay.
Upon repayment of overdue liabilities, the payments are made in the following sequence: penalty – interest – principal
2. The interest rate of the loan is increased by 4 percentage points max for every case of violation of the lending pre-conditions.
3. Upon early repayment of the loan until the mid-maturity, an early repayment charge is applied at 5% of the early repaid amount.

Frequency and method of principal and interest installments
One of the below listed:
1. Annuity (equal monthly installments), where the principal and the accrued interest are variable.
2. Spring (descending monthly installments), where the principal is fixed and the accrued interests are variable:
3. Flexible, where the principal installments are made based on the business specifics, and the interests are paid monthly.

Credit holidays

A credit holiday is provided maximum once a year for 1 month to those customers who have not had classified obligations in the last 2 years and who have no overdue days for all their financing in the Bank.
Credit holiday is granted upon submission of an application 10 working days prior to the next repayment of the loan.
During the credit holiday, the customer does not repay the loan principal and interest. The unpaid principal amount is due at the end of the term and the interest is spread evenly over the next 6 months of financing.

Collateral security
Movable and immovable property, pledging of tangible and intangible property not prohibited by the legislation of the Republic of Armenia, and if necessary, a guarantee.

Loan / collateral ratio - LTV
Up to 100% of the evaluated liquidation value of the collateral depending on the type of pledged property, purpose, location, year of production/construction, the maximum share of the collateral in the total amount of collateral, and financing features.

Requirements to the Guarantor

  • must have a stable proven income or ownership/co-ownership for immovable and/or movable property subject to state registration,
  • at the time of disbursement of loan amount may have maximum of 3 current guarantees against liabilities of other persons whose liabilities are not overdue,
  • should not have problem/non-performing loans/liabilities at the time of loan disbursement, nor overdue liabilities of 30 days or more during the last 12 months;

Explanatory notes on the guarantee
If the borrower fails to fulfill his/her liabilities, the guarantor will pay on behalf of the borrower, the guarantor's credit history will deteriorate as well, and the guarantor may be deprived of his/her property.

Converse Bank:

  • Provides the guarantor with an example of loan and guarantee agreements and a repayment schedule,
  • The communication will be carried out in the manner chosen by the guarantor,
  • Notifies at least 7 days in advance of the change in the terms of the agreement,
  • Sends reminder of existing obligation 1 day in advance,
  • In case of delayed repayment of the loan, notifies the guarantor not later than within the following day.

The guarantor has the right to:

  • Request the Bank for information on the size of the loan balance, at any time,
  • Get a refund of loan-related payments made, as well as of other losses incurred on behalf of the borrower.

Collateral evaluation

The immovable and movable property to be pledged is subject to evaluation by one of the evaluation companies cooperating with the Bank. The evaluation company is selected by the Customer. The evaluation report is usually valid within 2 (two) months from the date of the report. An additional re-evaluation may be required if necessary (for example, if market prices change).
In case of gold pledge the evaluation is performed by a Bank employee.
In case of purchase of vehicles, construction and agricultural equipment and other equipment from the primary market, the amount specified in the purchase agreement or invoice may be taken as a basis for the evaluated market value. 

Evaluating companies

Evaluating company


Telephone numbers

"Amintas Group" LLC

"Tun Depo" complex, 23/6 Artsakh Str., c. Yerevan

(010) 432 276,(094) 432 276, (096) 432 276

"RVM Consult" LLC


Tpagrichneri str. 9, room 114, c. Yerevan


(010) 546 490, (098) 944 449, (077) 944 449, (093) 944 449

"Abit" LLC

 Tumanyan str. 8, room 314, c. Yerevan

(033) 999 880, (096) 999 888


Vardanants passage 8/3, room 209, c. Yerevan

(010) 588 797, (043) 588 797

Collateral insurance
The Bank may require insurance of the pledged property based on the purpose of the financing, the transaction or the specific features of the pledged property and the degree of creditworthiness of the borrower.
Insurance is carried out at least in the amount of the balance for the entire financing period (unless otherwise determined by the Bank), by any of the insurance companies cooperating with the Bank.


List of insurance companies

Insurance company


Telephone numbers

"Ingo Armenia" ICJSC

c. Yerevan, Hanrapetutyan 51, 53, areas 47, 48, 50

(010) 592 121


c. Yerevan, Komitas Avenue 62

(060) 275 757, (098) 560 797

“Liga Insurance” ICJSC

c. Yerevan, Northern Avenue 1

(010) 591 010

"Nairi Insurance" LTD

c. Yerevan, 0033, Avet Avetisyan 116/1 and 116/5

(060) 500 060, (010) 543 594


c. Yerevan, 0033, Hr. Kochar 35/1, RA

(010) 700 800

Communication with the Bank

You have the right to communicate with Converse Bank CJSC in any format at your discretion - by postal mail or by electronic communication methods. It is most convenient to receive information electronically, as it is available 24/7, free from the risk of loss of hard copy (paper based) information and ensures confidentiality.

Provision of statements, references and other information (including VAT)

• Provision of single statement (regardless of periodicity) -AMD 0,
• For a duplicate 1.

- Covering a period of up to one month- AMD 1,800
- From 2 months up to 1 year - AMD 3,000
- Up to one year - AMD 12,000
- Up to 3 years (in case it is stored by the Bank) - AMD 24,000
• Statement for submitting to different institutions1
- In case of accounts opened within a month 2 AMD 5,000
- In case of accounts opened earlier - AMD 3,000
• References / Letters
 On transactions made
- For transactions dated back up to one month - AMD 3,000
- For transactions dated back more than one month - AMD 5,000
Notice of agreement on consecutive pledge/alienation of property pledged in the Bank - AMD 6,000 for each pledged property
Transaction support documents and copies of other documents (for each document)
- Dated back up to 1 month - AMD 1,800
- Dated back up to 1 year - AMD 3,000
- Dated back more than one year - AMD 12,000

Tariffs for other services (including VAT)
• Mail delivery of statements or other documents
Intra-republican – AMD 500
- Tariff set by the delivery service provider, if established by law and contract.
- In other cases, the fee set by the shipment service provider + AMD 1,500

• Delivery of references or other documents via Ordered mail delivery
- Intra-republican - AMD 3,000
- International - fee set by the shipment service provider + AMD 5,000

Granting consent for registration of persons at the address of pledged real estate (irrespective of number of registered persons) - AMD 3,000
Granting consent for modification of documents on real estate property pledged with the Bank3 - AMD 20,000
Granting consent for the lease of pledged real estate property- AMD 12,000
Granting consent to change the registration plates of the pledged car - 12,000 AMD
Granting consent for the lease of pledged vehicle - AMD 8,000
Granting consent to take out of the country the movable property pledged in the Bank - AMD 12,000 (for each pledged property)
Partial release of pledged property based on the application of the pledgor or the lessee (except for the pledge of cash as well as unallocated metal accounts) - AMD 20,000 (per property)
Lease terms revision4 - 0.5%, minimum AMD 6,000

1 In case of simultaneous provision of a statement and reference to the same Customer and charge envisaged for the reference, the charge will be collected for reference only.
2 In case of more than one active account, the opening date of account which has been opened earlier is taken into consideration irrespective of whether or not included in the statement.
3 The tariff is applied only for individuals.
4The tariff is calculated based on the amount of lease provided. The tariffs are set at the time of submission of the application by the customer for revision of the lease terms.

Required documents


Application form for a loan


For a legal entity - founding documents, statute, certificate of state registry


In case of an open joint stock company, a statement from the depositary on the shareholders


Identity document, public service number (PSN) or statement on non-receipt of PSN of the founders, director, guarantors, pledgers and other related/affiliated persons of the company (not required if an identity card is presented).


Consents to inquiries of the applicant, guarantors, pledgers and other related parties.


Pledge ownership certificate, grounds for registration.


Preliminary valuation letter on collateral /is submitted prior to the loan approval/.


Collateral valuation report /is submitted after the loan is approved/.


Тax reports for the period from January 1 of the previous year to the current period.


Single tax account statement for the abovementioned period


Tax liability statement (electronic).


Cooperation agreements, licenses, permissions (if any) depending on the sphere of activity.


Grounds for the place of activity: lease agreement, ownership certificate.


Financial information:

ü  cash flows from the beginning of the previous year to the current period of analysis,

ü  as of the beginning, end of the previous year and current period of analysis:

-       balance sheet,

-       detailed information on receivables and payables,

-       detailed information on fixed assets.


Bank account statements from January 1 of the previous year to the current period of analysis.


Extract from the minutes of the general meeting or the sole participant on obtaining financing, pledging property, providing a guarantee.


Collateral insurance certificates (if insurance required - after loan approval).


Statement on limitations on pledged property (after loan approval).


Other documents required by the Bank.

Credit history

Credit history is a collection of data on the financial obligations of an individual or legal entity, which shows the history of the latter’s financial obligations or their fulfillment.
The credit history includes data on 5 year-period prior to the date of inquiry, and is made from information on:
• Financing received by the person, including:
- their number and amount,
- the amount, type, terms of each financing, the nominal interest rate applied by the creditor,
- the information on collaterals securing loan/financing.
• Fulfillment of loan repayments (for example, whether the interest and principal amount repayments were duly paid or not),
• Guarantees provided to other persons, their number and amount, the type of loan secured by each guarantee, terms and information regarding collaterals,
• Overdue days/amounts in terms of financing and guarantees, as well as the penalties and fines charged for them,
• Unpaid or late utility bills.

Credit history does not contain personal data, such as a person’s ethnicity, religious and political views, social status, etc.

If there are incorrect or incomplete data in the credit history, for the purpose of clarification and correction, the borrower can inform about it "ACRA Credit Reporting" CJSC, hereinafter also Credit Bureau, or directly contact the financial organizations providing information. People can address credit bureau by submitting an appropriate written application or electronically, online from the personal portal "My ACRA".
The process of accepting/receiving, discussing and responding to customer complaints regarding credit reports provided by the credit bureau, the sequence of actions is defined by the "Procedure for Dispute Resolution" of "ACRA Credit Reporting" CJSC.

For more details follow the links: and links.

Measures to take to improve the credit history and scoring

In order to improve credit history and scoring, it is necessary to eliminate the main causes of their deterioration, in particular, to pay off current overdue obligations as soon as possible, as well as:

• ease the credit burden by partially or fully repaying existing loans,
• make repayments in accordance with the established schedule, excluding delays and showing punctuality,
• reduce the given guarantees by reducing their number and amount, as well as, if available, ensuring the full repayment of overdue obligations,
• avoid even one-day delays in fulfilling obligations on current/existing loans and becoming a guarantor for unreliable persons,
• avoid applying for new loans frequently.


Due to the change in the foreign exchange rate, the actual annual interest rate and the amount of loan repayments may change.  

If you fail to fulfill or incompletely fulfill your obligation, within three business days this information will be provided to the credit bureau where your credit history is formed. Having a bad credit history can negatively affect your creditworthiness in the future. You have the right to receive your credit history report for free once a year from the credit bureau.

Your property may be confiscated by law if you fail to make your interest and loan repayments on time.

In case of insufficient funds to repay your loan liabilities, they may be repaid at the expense of your other property and/or that of the guarantor, as prescribed by the RA legislation.

In accordance with the RA Law on Combating Money Laundering and Terrorist Financing, on the basis of the Know Your Customer Principle, the Bank may require the Customer to provide additional documents or other information, as well as ask questions during verbal communication, for the purpose of conducting due diligence of the Customer.  

The Bank may collect additional information in accordance with the terms of an agreement with the US Government under the Foreign Account Tax Compliance Act (FATCA) to determine your eligibility for being a US taxpayer.

The Bank is entitled to modify and supplement the tariffs for additional services provided by notifying the Customers in accordance with the agreement, by posting a relevant message on its own website ( ), by posting announcements on the Bank's premises, by sending a notification by post, and by any other methods proposed by the Bank selected at the Customer's discretion, which is considered a due notification of the Customer.

If the requested credit facilities are provided also or exclusively for the purpose of refinancing your other credit liabilities with other entities (banks, credit organizations, etc.), we hereby warn you that you are required to repay outstanding interest, penalties, service fee, and other payments to those entities after refinancing, and the Bank shall not be liable for any failure from your side to fulfil these obligations.

Factors for loan approval and rejection
The Bank is inclined to approve the loan, if the applicant:

• meets the conditions and restrictions of the particular loan,
• secures his loan obligation with a pledge and guarantee, at the request of the Bank,
• as a result of the assessment the applicant is recognized as creditworthy,
• the documents and references submitted by the applicant are credible and include all necessary information,
• the applicant's credit history is either positive or missing.

The incompliance on the part of the applicant with any of the aforementioned conditions and with the requirements of the Bank’s internal regulations can cause the rejection of the loan.

Time span for notifying the customer of the decision to provide the loan and for the disbursement of loan amount.
 The decision making takes up to 10 banking days after submission of required documents and analysis,
 The customer is informed within one day,
 The loan agreement is concluded with the customer within 3-5 banking days after submission of the complete package of documents by the customer,
The actual disbursement of the loan amount to the Customer is performed upon receiving the certificate of pledge right from the relevant state authorities.

Venue for loan formalities and method of disbursement
Loan is provided at Head Office and Branches.
The loan amount is provided to the borrower by depositing the sum into his/her account.

Settlement of Disputes
Any disputes and disagreements between the Customer and the Bank shall be resolved first by mutual negotiation, and should the agreement not be reached by such methods, the disputes and disagreements shall be resolved in accordance with the procedure prescribed by the RA legislation both per court procedure, and through Financial System Mediator.

Notice on Financial System Mediator
Please be advised that based on the RA Law on Financial System Mediator, the disputes relating to a property claim for up to AMD 10 million or equivalent foreign exchange amount arising with regard to the services rendered to you by Converse Bank CJSC can be settled through the Financial System Mediator.
Based on the agreement concluded between the Bank and the Financial System Mediator, the Bank abandons the right to dispute the resolutions of the Financial System Mediator only for property claims not surpassing AMD 250,000 (two hundred fifty thousand) or the equivalent foreign currency (FX), and the amount of the transaction not surpassing AMD 500,000 (five hundred thousand) or equivalent FX.

Address: M. Khorenatsi 15, 0010 Yerevan
Business center Elite Plaza, Floor 7
Email: [email protected]
Tel: (+ 37460) 70 11 11
Fax: (+ 37410) 58 24 21

Contact the Bank
For additional information, please

• visit the Bank’s website
• visit the Customer Service Office at the Head Office or any branch of the Bank
• call +374 10 511211
WhatsApp: +374 95 511211
Skype: conversebank-callcenter
                                                                                                                                                      Updated on 14.01.2024