VTB Bank (Armenia) reduced interest rates on loans for purchase of goods by installments

ArmInfo. VTB Bank (Armenia) once again reduced effective rates for loans for the purchase of goods by installments, thereby offering its clients loans at low interest rates and reduced commission.

According to the press service of the bank, from now on, customers of VTB Bank (Armenia), making purchases in partner shops of the Bank, can arrange installments on favorable terms (various loan conditions operate in various partner shops of the Bank): the maximum loan amount is up to 1.5 mln AMD, the loan interest rate is from 0 %, prepayment - 0%, loan repayment term - up to 60 months, monthly maintenance fee - from 0%.

The loan is issued on site, without the need to visit the Bank, and within a few minutes. In this case, the client must provide only a document proving the identity and the number of public services (social card).  Individual residents who are 21 years of age or older can apply for a loan in installments. The loan by installments of VTB Bank (Armenia) can be issued with the purchase of household appliances, furniture, construction materials, mobile phones and other goods in more than 350 retail outlets of the Bank throughout Armenia.  According to the source, now the loan can be given to customers with unregistered income.

For more information on the conditions for granting loans in installments at VTB Bank (Armenia), please visit the Bank's branches at www.vtb.am, in the Uniform Information Service at 87-87.  According to the Financial Rating of Armenian Banks as of January 1, 2018, prepared by ArmInfo News Agency , VTB Bank (Armenia) is one of the top three with a volume of 90.4 billion AMD ($ 186.8 million), with annual growth of 15.9%. In the total loan portfolio of the bank, the retail share reaches 53%.  In the total volume of retail lending, the share of VTB Bank (Armenia) is 11% on the market. On consumer loans, the Bank holds the 2nd position - 77.2 billion AMD ($ 159.6 million) or 46.6% in the loan portfolio.  In the annual credit profile, VTB Bank (Armenia) increased the volume of consumer loans by 23.3%. In the total volume of consumer lending, the share of VTB Bank (Armenia) in the market exceeds 13%.  To note, "VTB Bank (Armenia)" JSC became a participant of the international financial group VTB in April 2004. At present, VTB Bank, the second largest bank 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 branches with presence both in the capital and in all regions of the country.