Unibank announces significant cut on Express loan rate

28.02.2019 18:06
Unibank announces significant cut on Express loan rate

YEREVAN, February 28. /ARKA/. Unibank said it has significantly improved the terms of the Express loan, cutting the interest rate, prolonging the repayment period and increasing the loan amount, prompted by the high demand for this type of lending and current business needs.

“One of the most pressing problems for business is the quick and easy receipt of cash funds if necessary. Unibank’s Express loan is designed exactly for that. The loan is provided to small and medium businesses and individual entrepreneurs for any commercial purposes,” the bank said in a press release today.

According to it, the loan is provided at the rate of 8% per annum for a period of up to 120 months. It is given in Armenian drams, US dollars and euros. The loan amount is up to 50 million drams. In case of seeking a loan in the amount of 12.5 million drams, it can be issued without a comprehensive financial analysis of the applicant’s credit history. This means it takes a customer 1-2 days to receive the bank’s decision on whether the loan is provided or not.

In 2018, Unibank provided about 26 billion drams in business loans, thereby stimulating the development of SMEs. The new more favorable lending terms will increase the availability of cash funds for an even greater number of SMEs.

"One of the priority areas of Unibank is to assist the existing SMEs in order to increase business volumes and business efficiency. We offer not only a package of services, but also consulting, which allows businesses to correctly assess their risks and develop a realistic business plan," said David Petrosyan, Unibank Board Member and Head of Corporate Business and Marketing Department.

Unibank was established in 2001. In 2002, it introduced Unistream system. Its principal shareholder is UNIHOLDING GG LIMITED. In 2015, the bank was reorganized into an open joint stock company. -0—. ($1 – 489.72 drams). -0-

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