ArmInfo. VTB Bank (Armenia) offers clients of retirement age to use the product developed specially for them - "Credit line for pensioners".
As the press service of the bank informs, the new product for pensioners offers improved conditions: the annual interest rate is 0% (effective interest rate is 19.5% per annum) and a simplified repayment mechanism.
According to the source, "Credit line to pensioners" is issued in drams for the current pension card to pensioners under the age of 78; the maximum amount of the credit line - for each pensioner will be three times the size of the pension; the maximum term of the credit line is 18 months; Monthly commission - 1.5% of the amount of the credit line; card servicing and cashing from ATMs of VTB Bank (Armenia) and ACBA Credit Agricole bank - free of charge.
After receiving a credit line for repayment of the latter there is no need to visit the Bank's branches, since the repayment amount (at a rate of 7% of the amount of the pension) will be automatically deducted from the monthly pension receipts to the pensioner's card.
Detailed information on the terms of repayment and tariffs of the product "Credit line to pensioners" can be found at the Bank's branches, at www.vtb.am, in the Uniform Information Service on the number 87-87.