ArmInfo. Making a lombard loan secured by gold in VTB Bank (Armenia) until July 20, 2017, customers with a positive credit history will be able to get a loan of up to 150% of the assessed value of the mortgage.
As the press service of the Bank told ArmInfo, interest rates on AMD loans start at 16.5%, in USD terms from 9.5%. The maximum loan period is 5 years. The client chooses the method of repayment at his own discretion: fully annuity - equal monthly payments until the end of the period, or partially annuity - 31% of the loan amount is repaid in an annuity manner until the penultimate month, and the remaining 69% of the loan amount together with the accrued interest is repaid at the end of the term.
According to the source, in order to obtain a loan, it is necessary to present to the Bank an identity document, a social card or a number of public services (or a certificate of absence of the latter). The decision to grant a loan is made in a matter of minutes and the loan is formalized on the spot. There are also preferential terms for redemption of loans from other banks on the security of gold.
Detailed information on the conditions for obtaining loans secured by gold products can be received at any of the 65 branches of VTB Bank (Armenia), on the website www.vtb.am, and also by calling the Bank's Unified Reference Service at 87-87.
According to the Financial Rating of Armenian Banks as of January 1, 2017, prepared by IC ArmInfo, in terms of retail loans, VTB Bank (Armenia) is one of the top three with the volume of 78.01 bln AMD. In the total loan portfolio of the bank, the retail share exceeds 47%. In the total volume of retail loans, the share of VTB Bank (Armenia) reaches 11% on the market.
To note, "VTB Bank (Armenia)" CJSC became a participant of the international financial group VTB in April 2004. VTB Bank, the second largest in Russia, owns 100% of VTB Bank (Armenia). The Bank is traditionally one of the leaders of the banking system of the Republic of Armenia in terms of key indicators. The coverage of the branch network of VTB Bank (Armenia) has 67 branches with presence not only in the capital, but also in all regions of the country.