Tue, 2 September
30.1 C
Yerevan
USD: 384.03 RUB: 4.80 EUR: 443.29 GEL: 142.29 GBP: 510.11

VTB Bank (Armenia) offers new type of student loans

YEREVAN, September 6. /ARKA/. VTB Bank (Armenia) has designed a student loan with a low interest rate, the Russian-owned bank said today in press release, adding that students are given an exceptional opportunity to pay only interest on the loan during their studies, and pay the principal amount after receiving higher education diplomas. The bank said also the rate for students with excellent academic achievements is one percent lower.

Loans are provided for the payment of bachelor’s and master’s degrees to students of about 60 state-owned and private state-accredited educational institutions. The eligible students must be aged 16 and above and be citizens and residents of Armenia. The loan is issued only if there is a guarantee from a parent or a trustee.

To obtain a loan, the borrower does not need to have income. But the parent (s) or the trustee must have. If the parent’s or trustee’s income is insufficient a co-borrower may be involved.

Decision is made within 2 working days. The loan is issued in Armenian drams with the annual interest rate of 10% (9% for students with excellent academic achievements). The repayable term is education duration +6 years (but no more than 10 years). The maximum amount for one academic year is 450,000 drams, and the maximum amount for the entire period of study is 1.8 million drams. Commissions are not charged.

The list of educational institutions and more detailed information about the loan is available on the bank’s official website www.vtb.am or by calling 87-87.

VTB Bank (Armenia) is entirely owned by Russian VTB Group. It runs 67 branches across Armenia. — ($ 1 – 478.29 drams).0-

spot_img

POPULAR

Acba Bank and NABU partner to clean  2 km stretch of Lake Sevan of plastic (VIDEO)

As part of the Clean Future for Lake Sevan initiative, Acba Bank in partnership with the  German Nature And Biodiversity Conservation Union (NABU), is assisting in the cleanup of Armenia's largest water body from plastic and other debris, according to the bank's press service.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Changes made to compulsory motor liability insurance in Armenia

The Armenian Bureau of Motor Insurers has launched a new feature, as reported by the Central Bank of Armenia.

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

Net loan portfolio of Armenian banks in Q2 2025 increased by 6.11% to AMD 6.8 trillion

The combined loan portfolio of 17 Armenia-based commercial banks upped  by 6.11% in Q2 2025 compared to Q1 2025, amounting to AMD 6.82 trillion, according to a ranking compiled by  the ARKA news agency.

LATEST NEWS

spot_imgspot_imgspot_img