YEREVAN, April 14. /ARKA/. VTB (Armenia) is seeing growing interest in installment loans, offering customers favorable terms for purchases at more than 1,000 partner retail locations across the country. Over the past five years, the number of the bank’s partners has doubled, and analysis of customer data has enabled the bank to tailor its offerings for maximum benefit, according to the bank’s press service.
For the past 10 years, VTB (Armenia) has maintained a leading position in the installment lending market, offering attractive terms for this in-demand financial product. Every tenth economically active resident of the country has applied for a POS (point-of-sale) loan. Over the last five years, the POS loan portfolio has grown by 20%, and the number of partners has doubled reflecting high levels of trust from businesses.
POS loans are especially popular among customers aged 20 to 35, due to their strong purchasing power and active lifestyles. Interest is also growing among younger people, which may indicate rising financial literacy. Of all borrowers, 55% are women and 45% are men.
“Installment loans remain one of the most popular products among consumers. VTB (Armenia) is committed to offering convenient and accessible financial solutions with favorable lending terms. We continuously analyze customer data to better understand their needs and refine our offerings and marketing strategies. This year, we plan to expand our partner network and increase the POS loan portfolio by at least 5%,” said Taras Kladchenko, Deputy CEO and Chairman of the Directorate at VTB (Armenia).
Electronics and home appliances consistently lead in installment purchases, having become essential to everyday life. Furniture ranks second, with installment plans offering a convenient option for larger purchases. Interest is also increasing in home renovation items, such as plumbing and windows, particularly during the spring and summer seasons, when home improvement projects are most common.
The bank also offers installment payment options for a wide range of services — including travel packages, airline tickets, hotel stays, dental services, and fitness center memberships — and this list continues to expand.
The financing program allows for purchases ranging from AMD 30,000 to 4.5 million, with loan terms from 3 to 60 months. Applications are accepted from clients aged 18 to 70, based on their credit history.
Customers can also apply for a POS loan online, without visiting a bank branch or retail outlet. To do so, they simply select a product on a partner website and submit their application instantly.
More detailed information about installment loans is available on the VTB (Armenia) website, at partner locations, bank branches, or by calling the Contact Center at 87 87.
The operations of VTB Bank (Armenia) CJSC are regulated by the Central Bank of the Republic of Armenia.
