ArmInfo. VTB Bank (Armenia) offers all students and parents of students to take advantage of the favorable Student loan, specially designed for educational purposes.
According to the Bank's official statement, the loan for educational purposes is issued in drams with an y- o-y interest rate of 15% to 16.5% (effective y-o-y interest rate is 16.61-24%). The loan amount is set in the range from 50 thousand to 5 million drams (in the amount of 100% of the amount for training), and the repayment period is from 3 months to 5 years. The preliminary loan decision is made up to 2 business days. A fee for servicing a credit account is not provided.
The client can repay the loan by an annuity method - monthly in equal shares until the end of the study period, or pay only interest during the study period, and after completion of training - pay off the principal amount.
According to the source, the student loan of VTB Bank (Armenia) has been developed to pay for tuition not only in universities, but also in fee-paying schools, educational institutions, for courses and classes. This loan makes it possible to cover the costs of training students and schoolers not only in the territory of the Republic of Armenia, but also abroad. A student loan can be issued by parents, relatives of the student / schooler, and students themselves who meet the requirements of the Bank. VTB Bank (Armenia) does not require a guarantee to apply for a Student loan. A loan for educational purposes is issued for training at local institutions, international institutions, branches of international institutions and for taking various training courses. More detailed information on Student loan conditions can be obtained at the branches of VTB Bank (Armenia), on the website www.vtb.am or by calling the Bank's 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.