Friday, August 12 2011 15:48

VTB Bank (Armenia) says about great demand for mortgage crediting by young scientists and members of art unions


ArmInfo. VTB Bank (Armenia) says about the great demand for the mortgage crediting within the frames of the programme "Available house for young scientists and members of art unions".

As press-service of the bank reported, as a result of the tender announced at the beginning of 2011, CJSC "VTB Bank (Armenia) has become the winner. The purpose of the tender was to deliver mortgage credits to young scientists and members of the art unions (writers, painters). The apartments, which cost less than the market prices, will be delivered to them.

Since July 2011 the bank has started delivery of the mortgage credits within the frames of the above mentioned programme and at present has got a big inflow of applications. Here are the conditions: the term of the credit repayment - from 10 up to 20 years; rate of interest - 9,5%; minimal prepayment - 20%; pawn - the real estate property of the house.

"The mortgage credit within the frames of the programme "Available house to young scientists and members of art unions" is in a great demand. The number of applications is evidence of it. At present, VTB Bank (Armenia) has been making preliminary decision about credit delivery, and although the credit will be delivered if 20% of the apartment house has been already built, the bank has already proved several applications", - director of the Retail Business Development Department, Artak Khachatryan, said.

According to the Ranking of Armenian commercial banks, prepared by Arminfo, as of 1 July 2011 VTB Bank (Armenia) occupied the 3-rd place among 21 banks by the size of the mortgage portfolio, with 10.6 bln drams ($28.7 mln).
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