YEREVAN, September 3. \/ARKA\/. The Yerevan-based VTB Bank (Armenia) said today it has launched a new program designed for refinancing \/ repurchasing mortgage loans from other banks and credit institutions.<\/p>\n
According to the Russian-owned bank, the program has a number of advantages. More precisely, customers are able to reduce the loan\u2019s interest rate, to change its currency and to prolong the repayment period. As a result, customers ease their monthly financial burden and streamline the cost of loan repayment.<\/p>\n
The bank said in a press release that all customers who repay their mortgage loans in good faith in any bank or credit institution of Armenia are given the opportunity to refinance \/ transfer them to VTB Bank (Armenia), to receive a new mortgage loan in the amount of the remaining credit at the most favorable terms and through a facilitated process.<\/p>\n
Mortgage loans at VTB Bank (Armenia) will be refinanced on improved terms: the annual interest rate starts from 10.9%, the repayment term is up to 30 years, the loan amount is up to AMD 80 million. The decision is made in one and a half days and the client’s income is not analyzed. For refinancing a mortgage loan, VTB Bank (Armenia) requires a minimum package of documents.<\/p>\n
More detailed information about this product can be found at the bank’s branches, at its website at www.vtb.am, or by calling 87-87.<\/p>\n
“VTB Bank (Armenia)” CJSC became a participant of the international financial group VTB in April 2004. Currently, VTB Bank, the second largest in Russia, owns 100% of VTB Bank (Armenia). The bank runs 67 branches in Armenia. -0-<\/p>\n","protected":false},"excerpt":{"rendered":"
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