ArmInfo.VTB Bank (Armenia), as a socially oriented bank, offers its individual borrowers a two-month delay in paying loans - from March 17 to May 17. As explained in the bank's statement, the deferral concerns both repayment of the principal loan amount and interest payments on dram and foreign currency loans.
"We clearly realize how important this decision is for our customers. Ensuring the comfort of their service is the most important task of the bank," the bank said. All those borrowers whose regular loan payments fall between March 17 and May 17 will be able to make payments after May 17, which will not be considered an overdue period. The bank will not charge fines and penalties. The main amount of loans, interest payments, service fees for the specified two months will be redistributed for the remaining months of the payment schedule, while the loan repayment period will be extended by 3-5 months, depending on the remaining loan term according to the following principle, which will make it possible to reduce the monthly credit load by an average of 3%. The above principle implies: In the case of a residual loan repayment period of up to 2 years (inclusive), the term will be extended by 3 months; In the case of a residual loan maturity of 2 to 4 years (inclusive), the term will be extended by 4 months; In the case of a residual loan maturity of 4 to 5 years (inclusive), the term will be extended by 5 months; If the loan has a remaining maturity of more than 5 years, the term will be extended by more than 5 months. For all those loans whose final / full repayment date falls in the period from March 17 to May 17, the full repayment term will be extended by 2 months, which will not be considered an overdue period.
Failure to make payments on credit lines and credit cards (with a grace period and without a grace period) from March 17 to May 17 will not be considered a delay, the bank will not charge fines and penalties, and the repayment period will be extended by 2 months.
In the message, the bank also appeals to all borrowers who continue to receive income and are able to repay loans from March 17 to May 17, recommending that they pay loans in accordance with the original schedule in order to eliminate the need to extend the loan schedule.
It should be noted that VTB Bank (Armenia) CJSC became a member of VTB International Financial Group in April 2004. Currently, the second largest VTB Bank PJSC in Russia owns 100% of the shares of VTB Bank (Armenia). The Bank traditionally ranks among the leaders of the banking system of the Republic of Armenia in terms of key indicators and holds the lead in terms of coverage of the branch network.
