Which Banks in Armenia Offer 'Loan Holiday'? Complete List

Several banks and credit organizations operating in Armenia have issued statements regarding the provision of 'loan holidays'. Below are the announcements from the banks.

Inecobank

Considering the health of our customers, we announce that from March 10, 2020, until April 30, 2020, interest and penalties will not be charged to individuals who make their loan payments during this period. Furthermore, all citizens receiving income are encouraged to continue making loan payments to avoid adding to future payment burdens.

For small and medium business customers affected by the situation, solutions will be offered through negotiations to support stability and job retention in those sectors. At the same time, we urge the government to:

• Declare a state of emergency and minimize citizen movement.
• Develop a financial support package directed at businesses in affected sectors to assist with employee salaries.

The primary concern of our bank during this situation is the health of our citizens, and we ask for your understanding. We are confident that we will overcome this situation through united and coordinated action.

Haypost Bank

Dear Customers and Partners, Haypost Bank has decided to postpone loan repayments from March 16, 2020, to May 30, 2020. This decision will not negatively affect customers' credit histories. Small and medium-sized business representatives will receive personalized approaches.

If a customer’s loan due date falls between March 16 and May 30, it will be extended until May 30, without negative implications for their credit history.

All customers, including individuals and/or representatives of small and medium businesses, wishing to continue their loan payments without delay can do so according to their established schedule.

To avoid crowding at branches and maximize the efficiency of our queue management system, we encourage the use of remote banking services.

Ardshinbank

Due to the situation created by the coronavirus, Ardshinbank informs its clients that legal entities affected in the hospitality, restaurant, transport, and entertainment sectors may contact their responsible representatives to receive individual approaches regarding their loan obligations. Individuals and sole proprietors who do not make their regular payments by May 15 will not be considered overdue, and no penalties will be applied.

Hayekonombank

Dear customer, given the latest developments in the country, Hayekonombank is prepared to offer an individualized and flexible approach to those facing issues with loan repayment timelines in tourism, restaurant, entertainment, hotel, and similar sectors. We advise you to prioritize remote banking transactions to minimize the risk of disease spread.

ACBA-Credit Agricole Bank

In light of the current situation, from March 16, 2020, to April 30, 2020, penalties will not be applied to clients for not meeting their loan obligations.

Ararat Bank

Ararat Bank has decided to offer a 'loan holiday' from March 16, 2020, to facilitate avoiding crowds and ensuring customer comfort. Customers wishing to take advantage of this opportunity can postpone principal payments and accrued interests for up to two months.

Evocabank

Evocabank announces a suspension of monthly payments for SingleTOUCH loans for two months, allowing borrowers to make payments from May 17 onwards without it being considered late. Borrowers in sectors significantly affected will receive personalized approaches and the ability to review due dates in line with income changes.

Ameriabank

Ameriabank is committed to supporting vulnerable SMEs in the tourism, hospitality, and public catering sectors by providing loan holidays and flexible repayment schedules to help navigate the temporary crisis.

We encourage all customers to utilize remote services and the 24/7 contact center at +374 10 561111.