Monday, July 3 2017 13:42
Alina Hovhannisyan

VTB Bank (Armenia) reduced interest rates on auto loans down to 14%

VTB Bank (Armenia) reduced interest rates on auto loans down to 14%

ArmInfo. From now on, the  clients of VTB Bank (Armenia) will be able to make loans for the  purchase of cars from both the primary and secondary market, at a  rate starting from 14%. At the same time, the Bank also provides a  unique opportunity in the market - lending to already imported cars  imported to the Republic of Armenia within 30 days before applying  for a car loan. .  As the press service of the bank told ArmInfo, the  amount of the loan ranges from 500 thousand to 24 million drams, the  prepayment is established starting from 20% of the cost of the car  purchased, the repayment term is up to 5 years, and the period from  the moment of production of the purchased car should not Exceed 10  years.

At the same time, for the registration of a car loan it is necessary  to provide a minimum package of documents (an ID document and a  social card - a number of public services), and a certificate of  income is required only if the client does not receive salary in the  Bank. A preliminary decision on the application is made as soon as  possible. In particular, in case of purchase from the primary market  - up to 5 working hours, and in case of purchase from the secondary  market - up to 2 working days. Meanwhile, the Bank conducts an  evaluation of the car for free, and during the entire loan term the  Bank takes on the responsibility of insuring the borrower and the  car.

According to the source, applications for a car loan can be submitted  by resident individuals of RA at the age of 23 years and older.

According to the Financial Rating of Armenian Banks as of January 1,  2017, prepared by IC ArmInfo, VTB Bank (Armenia) is one of the top  three with the volume of 78.01 billion drams in terms of retail  lending. In the total loan portfolio of the bank, the retail share  exceeds 47%. In the total volume of retail lending, the share of VTB  Bank (Armenia) reaches 11% on the market. On consumer lending, the  Bank occupies the 2 nd position with a volume of 62.7 billion drams  or 38.4% in the loan portfolio. In the total volume of consumer  crediting of banks, the share of VTB-Armenia reaches almost 13%. The  volume of auto loans of VTB Bank (Armenia) amounted to 1.6 billion  drams or 3% of the bank's consumer loans as of this date. On the  portfolio of auto loans, the Bank holds the 2 nd position.

It should be noted that "VTB Bank (Armenia)" CJSC became a  participant of the international financial group VTB in April 2004.  At present, 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.

POST A COMMENT
Input digits     


News
Ameriabank named the Bank of the Year 2024 in Armenia by The  Banker MagazineAmeriabank named the Bank of the Year 2024 in Armenia by The Banker Magazine
EDB forecasts decline in Armenia`s GDP growth rate from 6% to 5.5% in  2024-2025 EDB forecasts decline in Armenia`s GDP growth rate from 6% to 5.5% in 2024-2025
OPEC Fund to provide 50 million euro loan to Armenia OPEC Fund to provide 50 million euro loan to Armenia
EDB plans to invest $200-250 million in Armenia in 2025-2026- MandronEDB plans to invest $200-250 million in Armenia in 2025-2026- Mandron
GIZ presents water resources management program  in ArmeniaGIZ presents water resources management program  in Armenia
Economic activity growth in Armenia slowed to 8.1% in January-October  2024 Economic activity growth in Armenia slowed to 8.1% in January-October 2024
Armenia and Algeria to collaborate in trade, economy and tourismArmenia and Algeria to collaborate in trade, economy and tourism
EDB ready to support Mastara reservoir construction once a proposal  is submitted - PodguzovEDB ready to support Mastara reservoir construction once a proposal  is submitted - Podguzov
EDB: Armenia withdrew its application for financing Amulsar mine  projectEDB: Armenia withdrew its application for financing Amulsar mine  project
Armenia`s government approves draft agreement between EAEU and  Mongolia  Armenia`s government approves draft agreement between EAEU and  Mongolia  
Armenian Airlines announce seasonal discounts Armenian Airlines announce seasonal discounts 
Events organized to raise Tavush residents` awareness of sustainable  energy technologies Events organized to raise Tavush residents` awareness of sustainable  energy technologies 
Kazakh Central Depository granted membership of Central Depository of  Armenia Kazakh Central Depository granted membership of Central Depository of  Armenia 
Reduced expenses on Armenia`s economic development to reduce budget  potential - Luys FoundationReduced expenses on Armenia`s economic development to reduce budget  potential - Luys Foundation
IDBank donated 10,000,000 AMD to the 27th IDBank donated 10,000,000 AMD to the 27th "For You, Armenia!" Telethon
There is a shadow turnover of funds in the bus transportation sector  - Prime MinisterThere is a shadow turnover of funds in the bus transportation sector - Prime Minister
Gevorg Papoyan: We are now very close to the real volumes of our  exportsGevorg Papoyan: We are now very close to the real volumes of our  exports
1.4% y/y inflation recorded in Armenia in Nov 2024 1.4% y/y inflation recorded in Armenia in Nov 2024 
Armenia`s minister of economy explains higher number of jobs Armenia`s minister of economy explains higher number of jobs 
Armenia`s NA ratifies protocol granting status of independent  international organization to EFSDArmenia`s NA ratifies protocol granting status of independent  international organization to EFSD
Armenian NA approves 2025 draft budgetArmenian NA approves 2025 draft budget
Opposition NA factions vote against government-submitted 2025 draft  budgetOpposition NA factions vote against government-submitted 2025 draft  budget
EFSD to provide Armenia with $200 mln loan for construction of  Kajaran tunnelEFSD to provide Armenia with $200 mln loan for construction of Kajaran tunnel
 Armenian authorities aim to establish a stable and favorable  environment for SMEs in the market Armenian authorities aim to establish a stable and favorable  environment for SMEs in the market
“The Will to Get Back on Your Feet Again” ։ A Film Series Funded by AraratBank
EFSD to become fully independent international organizationEFSD to become fully independent international organization
Fluctuations do not cause changes in 2025 draft budget of Armenia Fluctuations do not cause changes in 2025 draft budget of Armenia 
Upper Lars checkpoint open for transport
RA Finance Minister, German Ambassador discuss projects implemented with KfW supportRA Finance Minister, German Ambassador discuss projects implemented with KfW support
CBA hosting the 27th meeting of the Advisory Council on Monetary Policy for EAEU Member StatesCBA hosting the 27th meeting of the Advisory Council on Monetary Policy for EAEU Member States
Armenia`s gross international reserves 5.8% down by Nov 2024Armenia`s gross international reserves 5.8% down by Nov 2024
Armenian ECPC Chairman leaves for Paris Armenian ECPC Chairman leaves for Paris 
Armenia to host Plenary Session of PABSEC GAArmenia to host Plenary Session of PABSEC GA
RA Minister of Economy: Armenia and Georgia have great potential for  collaboration RA Minister of Economy: Armenia and Georgia have great potential for  collaboration 
863 Armenian trucks waiting to pass through Upper Lars checkpoint863 Armenian trucks waiting to pass through Upper Lars checkpoint
In 2025, Armenia will allow duty-free import of up to 9,000 tons of  cattle meat into the countryIn 2025, Armenia will allow duty-free import of up to 9,000 tons of  cattle meat into the country
EEC Council approves exemption from import customs duty on butter for  ArmeniaEEC Council approves exemption from import customs duty on butter for  Armenia
Wind power generation project discussed with Asian Development BankWind power generation project discussed with Asian Development Bank
Vahe Davtyan: Pressure on ANPP is part of broader geopolitical  competitionVahe Davtyan: Pressure on ANPP is part of broader geopolitical  competition
Gevorg Papoyan: Reducing target inflation threshold in the short term  will have negative economic consequencesGevorg Papoyan: Reducing target inflation threshold in the short term  will have negative economic consequences
 Economy Minister expects construction of Masdar`s solar station to  start in 2025 Economy Minister expects construction of Masdar`s solar station to  start in 2025
Economy Minister attributes Armenia`s economic slowdown to  Statistical Committee`s outdated calculation methodology Economy Minister attributes Armenia`s economic slowdown to  Statistical Committee`s outdated calculation methodology 
Depputy head of Armenia`s State Revenue Committee attends the Global  Forum on Transparency and Exchange of Information on TaxationDepputy head of Armenia`s State Revenue Committee attends the Global  Forum on Transparency and Exchange of Information on Taxation
Mechanism of financial support of industrial cooperation is new  integration level in real economy - minister Mechanism of financial support of industrial cooperation is new  integration level in real economy - minister 
Modi plans to enter Armenia`s market next year Modi plans to enter Armenia`s market next year 
Ameriabank Named Armenia’s Best Bank for Real Estate by EuromoneyAmeriabank Named Armenia’s Best Bank for Real Estate by Euromoney
Upper Lars check point closedUpper Lars check point closed
EDB Deputy Chairman: We have allocated a grant to Armenia to support  electronic vehicle passport projectEDB Deputy Chairman: We have allocated a grant to Armenia to support  electronic vehicle passport project
Armenian Banks: About HSBC, Ardshinbank and Conducting Business in the New Environment of Sanction RestrictionsArmenian Banks: About HSBC, Ardshinbank and Conducting Business in the New Environment of Sanction Restrictions
Ardshinbank Successfully Completes Acquisition of HSBC ArmeniaArdshinbank Successfully Completes Acquisition of HSBC Armenia
AraratBank Receives VISA Strong Partnership AwardAraratBank Receives VISA Strong Partnership Award
EU invests EUR 12.9 million to strengthen nuclear safety, radiation  protection and radioactive waste management infrastructure in ArmeniaEU invests EUR 12.9 million to strengthen nuclear safety, radiation  protection and radioactive waste management infrastructure in Armenia
Lusine Gevorgyan: Armenia is ready to host events  that meet  international standardsLusine Gevorgyan: Armenia is ready to host events  that meet  international standards
Ardshinbank Donates 120 Million AMD to the Hayastan All-Armenian FundArdshinbank Donates 120 Million AMD to the Hayastan All-Armenian Fund
Armenia`s government approves quota for duty-free import of electric  cars next year Armenia`s government approves quota for duty-free import of electric  cars next year 
Armenia extends restrictions on cement import Armenia extends restrictions on cement import 
Idram is now available on Wildberries!Idram is now available on Wildberries!
"Armenia" bloc MP: Armenia`s economic dependence on EAEU and Russia  never been so high
Armenia to categorize penalties for violating cash register usage  rulesArmenia to categorize penalties for violating cash register usage  rules
Eduard Hakobyan to be the new head of State Revenue CommitteeEduard Hakobyan to be the new head of State Revenue Committee
Read more
Exchange rates
05.12.2024
RUB3.920.07
USD403.030.31
EUR424.191.29
GBP512.572.48
CAD286.690.38
JPY26.850.15
CNY55.480.12
CHF455.971.79