Friday, January 24 2020 15:27

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.