ACBA-CREDIT AGRICOLE BANK extends repayment schedule for agricultural loans
02.04.2020,
17:44
ACBA-CREDIT AGRICOLE BANK said today it has extended the repayment schedule for agricultural loans, which it subsidizes.
YEREVAN, April 2. /ARKA/. ACBA-CREDIT AGRICOLE BANK said today it has extended the repayment schedule for agricultural loans, which it subsidizes.
According to a Bank's press release, loan payments due on principal amounts, which are not paid during the scheduled period extending from March 16 to May 15 will be proportionally distributed among subsequent repayments.
The interest payable during the scheduled period from March 16 to May 15 will be extended to the next regular repayment month, set by the schedule, while the interest on the loan balance will continue to be calculated.
The bank said also if the client makes the first payment after March 15 as said above, he/she will be considered to have agreed to these new terms.
Schedules for loans provided under the subsidy program, which mature from March 16 to May 15 (last payment), will remain unchanged, however, if the borrower applies to the bank, an individual approach will be applied to find reasonable solutions to problems, arising in the agricultural sector, according to the press release.
In case of questions, borrowers can call 010 31 88 88, 010 31 99 99 accessible around the clock in the bank or write a message on the bank's Facebook page.
ACBA was established in 1995 as part of EU’s TACIS program. As a result of a long-term and mutually beneficial cooperation between ACBA Bank and the French Credit Agricole the latter became the biggest shareholder of ACBA in 2006, September. ACBA was restructured, becoming a closed joint stock company and was renamed ACBA CREDIT AGRICOLE BANK. -0----
According to a Bank's press release, loan payments due on principal amounts, which are not paid during the scheduled period extending from March 16 to May 15 will be proportionally distributed among subsequent repayments.
The interest payable during the scheduled period from March 16 to May 15 will be extended to the next regular repayment month, set by the schedule, while the interest on the loan balance will continue to be calculated.
The bank said also if the client makes the first payment after March 15 as said above, he/she will be considered to have agreed to these new terms.
Schedules for loans provided under the subsidy program, which mature from March 16 to May 15 (last payment), will remain unchanged, however, if the borrower applies to the bank, an individual approach will be applied to find reasonable solutions to problems, arising in the agricultural sector, according to the press release.
In case of questions, borrowers can call 010 31 88 88, 010 31 99 99 accessible around the clock in the bank or write a message on the bank's Facebook page.
ACBA was established in 1995 as part of EU’s TACIS program. As a result of a long-term and mutually beneficial cooperation between ACBA Bank and the French Credit Agricole the latter became the biggest shareholder of ACBA in 2006, September. ACBA was restructured, becoming a closed joint stock company and was renamed ACBA CREDIT AGRICOLE BANK. -0----
