ArmInfo. VTB Bank (Armenia) offers a new service "Buyout of loans for consumption" which enables a customer to redeem his loan/loans in another bank/banks/credit organization/credit organizations through one loan from VTB Bank (Armenia) to minimize the monthly payments for several loans and, maybe, borrow an amount bigger than the existing borrowing from other banks/credit organizations.
According to the Bank's press-office, the buyout of loans at VTB Bank (Armenia) will enable the customers to have a single schedule of the loan repayment on the date suitable for the customer at any of the bank's 65 branches, 1500 payment terminals TelCell, or via Internet-Banking system. A loan/loans are buyout through an unsecured loan of VTB Bank (Armenia). The annual interest, upper ceiling, terms and conditions of the loan are determined in line with the terms for specific products of the Bank.
The loan is issued in a single amount and transferred to the accounts at other banks/credit organizations to redeem the customer's debts there. If the loan amount exceeds the amount necessary to redeem the customers other loan/loans, the unused amount remains on the balance of the customer. For more information on the service, please visit any branch of VTB Bank (Armenia) and contact the Single Contact Point of the Bank through the short number 87-87.
VTB Bank (Armenia) joined VTB Group in April 2004 and is fully owned by VTB Group, the second biggest bank in Russia. VTB Bank (Armenia) is one of the leaders of Armenia's banking sector. It has the largest branch network in Armenia.