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-
