Loans financed with recourses of the Agrarian Credit and Development Agency
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Loan amount of AZN 500 - 15,000
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Duration up to 36 months
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Grace period of up to 12 months
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12% annual interest rate
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1-2% commission rate
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Bail is not required, a guarantor with official income is required
AKIA microloans with 12%
- Amount: 500 - 15 000 AZN
- Term: 6 - 36 months
- Grace period: up to 12 months
- Interest rate: 12%
- Commission: 1 - 2% (varies depending on the loan amount and term)
- No collateral required
- A guarantor with the official income needed
Requirements
- ID cards
- TIN
- Must be a farmer registered in EKTIS (Electronic Agriculture System)
- There should be no overdue loans in the credit history for the last 2 years
Effective annual rate of interest (EARI): min.13.08%, max. 24.37%