VTB Bank (Armenia) student loan now also cover paid schools, courses  and classes

ArmInfo. VTB Bank (Armenia) has improved and expanded the terms of educational loans. As the press service of the Bank told ArmInfo, from now on, a loan for paying for  education expenses can be obtained not only for education in higher  education institutions, but also for paying for the child's education  in paid schools. In addition, for the first time in the market, VTB  Bank (Armenia) provides an opportunity to obtain a loan also for the  purpose of paying for various training courses and classes.

According to the source, the interest rate is from 15% (effective  interest rate starting from 17.5% per annum), the maximum maturity of  the loan is up to 5 years, the maximum loan amount is 100% of the  amount for training, but not more than 5 million drams. There is no  charge for servicing the credit account.  The loan repayment method  will be chosen at the client's preference - uniform monthly  repayments or payment of interest only during studies, and after  completion of training - monthly uniform repayments (interest and  principal).

The new loan product for educational purposes has no restrictions on  the list of specific educational institutions and is issued for  students of local educational institutions, international educational  institutions, branches of international educational institutions,  various training courses.

The consideration of the application and the decision to grant the  loan is accepted within a maximum of 2 working days. The credit can  be received from parents, relatives of students / students, and  students who meet the requirements of the Bank.

"The main advantage of the new loan product is that it does not  require guarantees for its receipt," the report reads.

For more detailed information on loan conditions, you can visit the  branches of VTB Bank (Armenia), the Bank's official website  www.vtb.am or call the Bank's Information Service at 87-87.

According to the Financial Rating of Armenian Banks prepared by NA  ArmInfo, as of January 1, 2018, VTB Bank (Armenia) is one of the top  three with a volume of 90.4 billion drams ($ 186.8 million), with  annual growth of 15.9%. In the total loan portfolio of the bank, the  retail share reaches 53%. In the total volume of retail lending, the  share of VTB Bank (Armenia) is 11% on the market. On consumer loans,  the Bank holds the 2nd position - 77.2 billion drams ($ 159.6  million) or 46.6% in the loan portfolio. In the annual credit  profile, VTB Bank (Armenia) increased the volume of consumer loans by  23.3%. In the total volume of consumer lending, the share of VTB Bank  (Armenia) in the market exceeds 13%.

"VTB Bank (Armenia)" became a participant in the international  financial group VTB in April 2004. At present, VTB Bank, the second  largest bank in Russia, owns 100% of VTB Bank (Armenia). The Bank is  traditionally one of the leaders of the banking system of the  Republic of Armenia in terms of key indicators. The branch network of  VTB Bank (Armenia) covers 67 branches with presence both in the  capital and in all regions of the country.