YEREVAN, June 5. /ARKA/. The VTB Bank (Armenia) has announced another drop in interest rates on gold-secured loans, as well as on the applied commissions. The loans are available on the following favorable terms: – at an interest rate of 2% (effective annual interest rate begins from 16.5%) on loans in AMD, and at an interest rate of 1% (effective annual interest rate begins from 15.5%) on loans in US dollars.
The loan size is up to 150% of the value of the secured gold. The loan maturity period is up to 5 years. The loan repayment option is chosen by the client at their discretion. The loan amount is up to 3,000,000 drams (equivalent in US dollars).
In addition, VTB Bank (Armenia) has a special offer for refinanced Lombard loans. By transferring their gold-secured loans from other banks or credit institutions to VTB Bank (Armenia), customers will be able to get a loan up to 30% more than the value of the collateral.
Customers applying for this type of loans will benefit from a number of advantages, the bank said in a news release. In particular, the decision on granting a loan is made within a matter of minutes; the loan is issued on the spot and takes only a few minutes; to obtain a loan, the client is required to submit a minimum package of documents – an identity document and a public service number (social card).
More detailed information on the terms of lending by VTB Bank (Armenia) can be found at the Bank’s branches, at www.vtb.am, or by calling 87-87.
VTB Bank (Armenia) CJSC became a participant of the international financial group VTB in April 2004. The bank owns the largest branch network in the country – 67 branches ($ 1 – 482.90 drams). -0-
