Wednesday, September 6 2017 15:18
Karina Melikyan

VTB Bank (Armenia), to facilitate the financial burden of students, provided maximum accessibility for academic loans

VTB Bank (Armenia), to facilitate the financial burden of students,  provided maximum accessibility for academic loans

ArmInfo. VTB Bank (Armenia)  offers students studying on a fee basis, to ease the financial burden  and get a student loan with a low interest rate. As ArmInfo was told  at the press service of the Bank, students are given an exceptional  opportunity to pay only interest for the loan during their studies,  and to take care of repaying the principal debt of the loan after  receiving diplomas on higher education. In addition, a lower interest  rate is applied to excellent students. 

In particular, the main terms of the loan are as follows: Currency -  AMD; The annual interest rate is 10%, for the excellent students -  9%; The maximum term of the loan is the period of study + 6 years (no  more than 10); The maximum amount for one academic year is 450  thousand drams; The maximum amount for the entire period of study is  1.8 million drams; No commission is charged. The Bank accepts the  decision on granting a loan for a maximum of 2 working days. Student  loans can be granted to persons from 16 years of age who are citizens  and residents of the Republic of Armenia. The loan is issued only if  there is a guarantee from the parent or guardian / trustee of the  student. To obtain a loan, you do not need to have income from the  borrower (student), only the availability of income from the parent  or guardian / trustee of the student is sufficient. And in the case  of insufficient income of the parent or guardian / trustee of the  student or even their absence, it is possible to involve a  co-borrower. 

According to the source, student loans are provided to pay for  bachelor's and master's studies in about 60 state-owned and  state-accredited educational institutions in Armenia. To get  acquainted with the list of educational institutions, which can be  paid through a student loan of VTB Bank (Armenia), and more detailed  information, you can visit the Bank's official website www.vtb.am or  call the Bank's Information Service at 87-87.

According to the Financial Rating of Armenian Banks as of July 1,  2017, prepared by IC ArmInfo, in terms of retail lending, VTB Bank  (Armenia) is one of the top three with a volume of 80.1 billion  drams. In the total loan portfolio of the bank, the retail share  exceeds 46%. In the total volume of retail lending, the share of VTB  Bank (Armenia) reaches 10.3% on the market. On the portfolio of  consumer loans, VTB Bank (Armenia) also holds a position in TOP-3 -  65.5 billion drams or over 12% of the total volume in the market.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 branch network of VTB Bank (Armenia) covers 67 units with  presence both in the capital and in all regions of the country.

POST A COMMENT
Input digits     


News
ADB to provide Armenia with a loan of 89.5 million euros as part of  budget assistance frameworkADB to provide Armenia with a loan of 89.5 million euros as part of  budget assistance framework
The sale of HSBC Bank Armenia to Ardshinbank to be completed on  November 29, 2024The sale of HSBC Bank Armenia to Ardshinbank to be completed on  November 29, 2024
Armenian companies can enter Warsaw Stock Exchange with IPO through  cross- or dual listing Armenian companies can enter Warsaw Stock Exchange with IPO through  cross- or dual listing 
New and modern. Arabkir branch of IDBank reopenedNew and modern. Arabkir branch of IDBank reopened
Armenia`s Universal health insurance implementation postponed with no  set timelineArmenia`s Universal health insurance implementation postponed with no  set timeline
"Irrigated Agriculture Development in Ararat and Armavir Provinces"  to open new page for Armenia`s agricultural sector
2025 budget message: Higher GDP growth potential in Armenia 2025 budget message: Higher GDP growth potential in Armenia 
Armenia s gross international reserves 14.2% down as of Oct 2024Armenia s gross international reserves 14.2% down as of Oct 2024
Armenian AMX joins Tabadul project by Abu Dhabi ADXArmenian AMX joins Tabadul project by Abu Dhabi ADX
Armenian Airlines launches Yerevan-Batumi-Yerevan flight Armenian Airlines launches Yerevan-Batumi-Yerevan flight 
Converse Bank starts initial placement of the next AMD, USD bonds in  amount of AMD 5 billion, $5 millionConverse Bank starts initial placement of the next AMD, USD bonds in  amount of AMD 5 billion, $5 million
Armenia s tax revenues AMD 1,827.7bln as of Oct 20, 2024Armenia s tax revenues AMD 1,827.7bln as of Oct 20, 2024
Armenia, Kyrgyzstan discuss development of transport cooperationArmenia, Kyrgyzstan discuss development of transport cooperation
Armenia`s government to allocate AMD 2.9bln under regional subvention  programmes approved and implemented in 2014-2022Armenia`s government to allocate AMD 2.9bln under regional subvention  programmes approved and implemented in 2014-2022
Economy Minister: Rallies and marches in Yerevan  in 2024 cause a  decrease in Russian tourist arrivalsEconomy Minister: Rallies and marches in Yerevan  in 2024 cause a  decrease in Russian tourist arrivals
AMX 2024 awards most active market participantsAMX 2024 awards most active market participants
Learn to save. World Savings Day with Idram JuniorLearn to save. World Savings Day with Idram Junior
The price of the issue: how much will MMR construction cost ArmeniaThe price of the issue: how much will MMR construction cost Armenia
Martin Galstyan: Reduction of refinancing rate from 9.75% to 7.25%  kept loan rates from rising significantlyMartin Galstyan: Reduction of refinancing rate from 9.75% to 7.25%  kept loan rates from rising significantly
Armenia`s Deputy Minister of Finance presents country`s economic  development strategies at t the annual meetings of IMF, WB Board of  Governors Armenia`s Deputy Minister of Finance presents country`s economic  development strategies at t the annual meetings of IMF, WB Board of  Governors 
Armenia`s CB reduces refinancing rate - 7.5% down to 7.25%Armenia`s CB reduces refinancing rate - 7.5% down to 7.25%
Armenia to develop business tourismArmenia to develop business tourism
Central Bank of Armenia considers it necessary to enhance  effectiveness of government capital expenditures and refine tax  policiesCentral Bank of Armenia considers it necessary to enhance  effectiveness of government capital expenditures and refine tax  policies
Zangezur Copper and Molybdenum Plant- top taxpayer in ArmeniaZangezur Copper and Molybdenum Plant- top taxpayer in Armenia
Minister: Armenia`s planned 5.6% GDP growth for 2025 is a very high  figureMinister: Armenia`s planned 5.6% GDP growth for 2025 is a very high  figure
Gold re-export contributed to Armenia`s economic activity this  Jan-Aug - ministerGold re-export contributed to Armenia`s economic activity this  Jan-Aug - minister
Armenia`s government plans EUR 500mln Eurobond issue Armenia`s government plans EUR 500mln Eurobond issue 
Stregthening resilience and increasing economic potential one of  major tasks of Armenia`s government next year - minister Stregthening resilience and increasing economic potential one of  major tasks of Armenia`s government next year - minister 
No effort must be spared for Armenian citizens to grow rich by  working under law - premier No effort must be spared for Armenian citizens to grow rich by  working under law - premier 
Consensus on medical insurance intriduction stages reached - ministerConsensus on medical insurance intriduction stages reached - minister
Customs duties for Armenian exporters to be reduced after agreement  with Iran ratified Customs duties for Armenian exporters to be reduced after agreement  with Iran ratified 
Ameriabank presents MyHome ecosystem at Toon EXPOAmeriabank presents MyHome ecosystem at Toon EXPO
Economic activity growth in Armenia slowed down to 8.7% in  January-September 2024 Economic activity growth in Armenia slowed down to 8.7% in  January-September 2024 
In Armenia, industrial price index increased from 101.3% to 102.9% in  January-September 2024 In Armenia, industrial price index increased from 101.3% to 102.9% in  January-September 2024 
The course of the IDream program has started. IDBankThe course of the IDream program has started. IDBank
Agroforestry systems to be introduced in four Armenian regions of  Armenia Agroforestry systems to be introduced in four Armenian regions of  Armenia 
Agreement between Armenian government, Lydian Armenia postponed Agreement between Armenian government, Lydian Armenia postponed 
DFC announces $50 million in financing for ACBA Bank to support small  and medium size businesses with a strong focus on women`s  entrepreneurshipDFC announces $50 million in financing for ACBA Bank to support small  and medium size businesses with a strong focus on women`s  entrepreneurship
Armenia`s vice-premier hosts DFC delegation Armenia`s vice-premier hosts DFC delegation 
Government to support Armenia`s IT sector Government to support Armenia`s IT sector 
Minister: State duty on gold export aims to improve process control  and boost state budget revenuesMinister: State duty on gold export aims to improve process control  and boost state budget revenues
Lonely Planet recognizes Armenia as one of top tourist destinationsLonely Planet recognizes Armenia as one of top tourist destinations
EBRD lending $236 million to Armenia for construction of southern  section of Sisian-Kajaran roadEBRD lending $236 million to Armenia for construction of southern  section of Sisian-Kajaran road
Minister of Economy: Armenia sees great potential for cooperation  with the Republic of GhanaMinister of Economy: Armenia sees great potential for cooperation  with the Republic of Ghana
ESFD to provide $100mln to Armenia to cover budget deficit ESFD to provide $100mln to Armenia to cover budget deficit 
FDA to provide EUR 75mln under budget support program FDA to provide EUR 75mln under budget support program 
Reduction of rates in large developed economies gradually opening way  for developing countries to attract foreign capital.- EDBReduction of rates in large developed economies gradually opening way  for developing countries to attract foreign capital.- EDB
Without additional impetus, economic growth rates in Armenia will  return to their stable values - EDBWithout additional impetus, economic growth rates in Armenia will  return to their stable values - EDB
Converse Bank and Kapitalbank signed a cooperation agreement at Sibos 2024Converse Bank and Kapitalbank signed a cooperation agreement at Sibos 2024
IMF to provide $24.5mln to Armenia for covering budget deficitIMF to provide $24.5mln to Armenia for covering budget deficit
IDBank and Idram at Mantashyants Global ExpoIDBank and Idram at Mantashyants Global Expo
 Ardshinbank’s Private Clients Will Be Served in a Special Office Ardshinbank’s Private Clients Will Be Served in a Special Office
RA Minister of Economy: Armenia and Belgium have many opportunities  to expand cooperation in technology and innovationRA Minister of Economy: Armenia and Belgium have many opportunities  to expand cooperation in technology and innovation
AraratBank Introduces UBPAY: A New System for International TransfersAraratBank Introduces UBPAY: A New System for International Transfers
No consensus yet on issue of unblocking railway - Armenian  vice-premierNo consensus yet on issue of unblocking railway - Armenian  vice-premier
IDBank participated in the HR Expo-24 conferenceIDBank participated in the HR Expo-24 conference
Ameriabank presented its innovative digital platform MyBusiness at  the Real Business forumAmeriabank presented its innovative digital platform MyBusiness at  the Real Business forum
Deputy Territorial Administration and Infrastructure Minister, KfW  delegation discuss construction of Kaps reservoir Deputy Territorial Administration and Infrastructure Minister, KfW  delegation discuss construction of Kaps reservoir 
Armenia Central Bank increases countercyclical capital buffer from  1.5% to 1.75%Armenia Central Bank increases countercyclical capital buffer from  1.5% to 1.75%
Economic modernization portfoplio 84.4% up by Oct 1, 2024 Economic modernization portfoplio 84.4% up by Oct 1, 2024 
Read more
Exchange rates
01.11.2024
RUB3.95-0.04
USD387.17-0.45
EUR420.51-0.68
GBP499.95-3.34
CAD277.86-0.54
JPY25.36-0.04
CNY54.35-0.10
CHF446.20-1.29