YEREVAN, October 25. / ARKA /. VTB Bank (Armenia) has announced today the relaunch of a student loan with improved terms, describing it as ‘one of the most popular loan products among young people.’
VTB Bank (Armenia) said unlike other similar offers, its student loan is designed for payment of tuition fee not only by university students, but also by students of private paid schools and various training courses and classes.
‘Not only students majoring at local but also foreign universities may apply for the student loan from VTB Bank. The loan has no restrictions regarding the list of educational institutions and is provided to students of local and international educational institutions, branches of international educational institutions and various training courses,’ it said in a press release.
The main advantage of a student loan from VTB Bank (Armenia) is that no collateral is required. It is provided in Armenian drams at 16% interest rate with the repayment period of 5 years. The maximum loan amount is 100% of the tuition fee, but not more than 5 million drams. No commission is charged for serving of the loan.
Loan repayment type is decided by the client. It is paid off either in monthly portions until the end of the study period or interests are paid during the study period, while the principal amount is paid after completion of training in equal monthly portions.
The loan can be provided to parents, relatives of the student or the students themselves who meet the requirements of the bank.
More detailed information can be obtained in the branches of VTB Bank (Armenia), on its official website at www.vtb.am or by calling 87-87.
VTB Bank (Armenia) CJSC became a participant of the international financial group VTB in 2004. Currently, VTB Bank, the second largest in Russia, owns 100% of VTB Bank (Armenia). The bank runs 67 branches across Armenia. -0-
