Fri, 4 April
8.1 C
Yerevan
USD: 391.32 RUB: 4.67 EUR: 432.53 GEL: 141.78 GBP: 514.27
spot_img

Converse Bank reduces interest rates on several types of mortgage loans

YEREVAN, August 1. /ARKA/. The Yerevan-based Converse Bank said today it has revised the lending terms as part of the Affordable Housing for Youth program, as well as the terms of refinancing with the funds of the National Mortgage Company, reducing the interest rates.

“Emphasizing creation of the best lending conditions for young families and launching of affordable and accessible products for the youth, Converse Bank has once again revised the interest rates of lending within the framework of the program Affordable Housing for Youth. From now on, the Bank will issue loans under this program at the annual interest rate of 7.5% of which 2% will be subsidized for residents of Yerevan and 4% for residents of the regions. It should be mentioned that no additional monthly fees will be charged for loan servicing,”Converse Bank said in a press release.

The Bank said also that henceforth acquisition, renovation and construction loans refinanced by the National Mortgage Company will be issued in Yerevan at the annual interest rate of 11% and in the regions – 10%. In Yerevan, energy efficient acquisition, renovation and construction loans will be issued at the annual interest rate of 10%. Additional monthly loan service fees will not be charged for these loan types either.

Converse bank’s shareholders are Advanced Global Investments LLC (80.94%), Haypost Trust Management B.V. (14.06%) and the Armenian Apostolic Church (5%). -0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

Arka news agency’s ranking of most profitable Armenian banks in 2019

In 2019, Armenia-based commercial banks earned a total of 78.8 billion drams in net profit, up from 56.4 billion drams they had earned in 2018, according to ARKA news agency's ranking of the most profitable commercial banks in the fourth quarter of 2019

Top ten Armenian banks by size of lending in 2019

In 2019, the overall loan portfolio of Armenia's banking sector grew by 16.4% to 3.572.2 trillion drams

LATEST NEWS

spot_imgspot_imgspot_img