YEREVAN, April 22. /ARKA/. VTB (Armenia) announced the launch of consumer loans backed by real estate. Retail customers can now apply for a loan of up to AMD 30 million, using residential properties, apartments, or commercial real estate located within the country as collateral.
Borrowers can secure a loan amounting to 60% of the property’s appraised value. This product features attractive terms, with nominal annual interest rates ranging from 17.5% to 21.5% (the effective rate falling between 18.9% and 23.8%), and a repayment period spanning from 3 to 7 years.
A standout aspect of this offering is the option for early repayment without incurring penalties, alongside no monthly service fee for the loan and no one-time application consideration fee.
“A loan secured by real estate provides our customers the advantage of accessing higher amounts and longer repayment terms compared to standard consumer loans. This initiative broadens financial opportunities for our clients and supports their aspirations. We anticipate that by the end of 2025, the total loans issued under this program will surpass AMD 2 billion,” shared Taras Kladchenko, Deputy General Director – Chairman of VTB (Armenia).
Interested customers can apply for this loan at any VTB (Armenia) branch. Required documentation includes a social card, passport or ID card for the borrower, co-borrower, and pledgee, along with proof of ownership for the collateral.
VTB Bank (Armenia) CJSC operates under the regulatory oversight of the Central Bank of Armenia.-0-
