YEREVAN, April 3. /ARKA/. Anelik Bank, adhering to the policy of expanding student loan accessibility, will now offer Express student loan to the students with a good credit policy without any guarantor .
Anelik Bank reported to ARKA on Wednesday the loan was introduced in Armenia in 2012. One of its advantages is that borrowers don’t need to submit a long list of required documents. Also, the loan is given within 24 hours at an annual interest rate of 16.25%.
The borrowers can get a 14 % discount from the annual interest rate on the next loan if no delays are recorded in the course of repayment of the previous loan.
Chairman of Anelik Bank, Samvel Chzmachyan, noted Armenia’s President Serzh Sargsyan, in one of his speeches, said the student loans must be affordable for broad strata of individuals.
“Taking into consideration President’s tasks and putting them in line with our resources and risks, our clients who have some positive credit history will get student loans without a guarantor. I believe it will be a good stimulus for people to use our student lending opportunities more broadly,” he said.
He added, if a guarantor is still needed, a family member can be it.
“This kind of lending, developed by the bank, will simplify the loan application procedures , and I attach great importance to it, as I absolutely agree with the slogan of this banking tool : “Education is a foundation for prosperity,” he said.
On March 7 Armenian Anelik Bank signed a cooperation agreement as part of a government-designed program to make higher education accessible to young Armenians. Loans will be provided at the rate of 12%, of which 2% is subsidized by the government. he loans will be issued in Armenia’s national currency, the dram, under the guarantee of students’ parents or guardians, for up to 10 years.
Anelik Bank was established in 1990. It is owned by Lebanese CreditBank (89.95%) and Samvel Chzmachyan (10.05%).—0-
