ArmInfo. VTB Bank (Armenia) offers to issue pawnshop loans secured by gold products under the most favorable conditions. According to the bank's official statement, the annual nominal interest rate on these loans is from 2% to 13.5% for AMD loans, from 1% to 9% for USD, with an effective annual interest rate of 10.6-24%.
The loan amount is set in the range from 30 thousand to 3 million drams (equivalent in dollars), in particular, a loan is issued in the amount of up to 150% of the estimated value of gold. The loan repayment period is from 80 days to 5 years, and the repayment mechanism is chosen by the client at his discretion.
According to the report, when applying for a loan secured by gold, a decision on granting a loan and its execution takes place within minutes. In addition, to obtain a loan, a minimum set of documents is required (an identity document and a public services number (social card). If necessary, the bank can provide funds to repay a customer's existing loan at another bank and obtain a new loan at VTB Bank (Armenia) for more favorable terms.
At the same time, VTB Bank (Armenia) offers to use the repurchase service of loans secured by gold from other banks and credit organizations with the possibility of increasing the loan amount by 10%. Loyal customers who borrow loans secured by gold products of VTB Bank (Armenia) during the loan are given the opportunity to increase the amount of the existing loan to 10%.
More detailed information on lending conditions at VTB Bank (Armenia) can be obtained at the Bank's branches, at www.vtb.am, in the Contact Center at 87-87.
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.