Thursday, April 25 2013 15:44

Ardshininvestbank is ready to provide students with 12% loans under the Government's student loan funding program


ArmInfo. Ardshininvestbank is ready to provide students (bachelors and masters) with 12% loans under the Government's student loan funding program (wherein 2-3% will be paid by the state).

The press service of Ardshininvestbank reports that 3% will be paid for excellent students.

The maximum period of such a loan is 10 years, the maximum size 1.8mln AMD (no more than 450,000 AMD per year). No proof of income is required, with parents acting as guarantors. No prepayment is charged. While at university a student should pay only the interest, with the principal to be paid within a month after his or her graduation.

According to ArmInfo's Ranking of Banks of Armenia, Ardshininvestbank has the second biggest consumer loan book in Armenia's banking system - 39.4bln AMD or 30% of the total lending portfolio. In 2012 the bank's consumer loan book by 50%, while the total lending portfolio amounted to 135.6bln AMD (4th place).
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