VTB Bank (Armenia) improved mortgage terms: prepayment starting from  3%, interest rate from 3.5%, term up to 30 years

ArmInfo. VTB Bank (Armenia) has improved the conditions for obtaining a mortgage loan. As ArmInfo  was told in the press service of the bank, prepayment starting from  3%, annual interest rate from 3.5% to 13.7%, effective interest rate  from 6-15%, loan repayment period from 3 years to 30 years , loan  amount - from 1 million to 80 million drams. As a result customers  can easily become happy owners of real estate, both in Yerevan and in  the regions of Armenia.  In addition, to obtain a mortgage, the  solvency requirements of customers are eased and a minimum package of  documents is required.

A preliminary decision on a loan is made within 1.5 business days.

According to the report, the bank offers to issue a mortgage loan  under various programs: the purchase of real estate from developers,  the purchase of real estate in the secondary market, the purchase of  real estate under the Housing for Young Families program, repair work  and reconstruction.

All the necessary conditions for obtaining a mortgage loan can be  found on the official website of the bank, following the link:  https://www.vtb.am/ru/credits#hip-ot-ek#, as well as in branches of  VTB Bank (Armenia) and in Contact center of the bank at number 87-87.

According to the Financial Ranking of the Banks of Armenia prepared  by IC ArmInfo as of October 1, 2019,  VTB Bank (Armenia) is among  TOP-10 with a mortgage portfolio of 13.2 billion drams or $ 27.7  million. Mortgage loans account for almost 6% in the total loan  portfolio of the Bank, and the share of VTB Bank (Armenia) in the  total mortgage loans of the banking sector reaches 4%. According to  the retail loan portfolio, VTB Bank (Armenia) is included in TOP-3  with the volume of 157.3 billion drams or $ 330.4 million, which  makes up 12% of the total retail loans of the market and over 70% of  the bank's loan portfolio. In y-o-y terms, the bank increased its  retail loan portfolio by 36.2%, and the volume of mortgage lending -  by 15.7%.

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.  In terms of coverage of the branch network, VTB Bank (Armenia)  maintains leadership, both in terms of their total number and  regional divisions.