YEREVAN, August 29. /ARKA/. Anelik Bank announced Wednesday on launching  new Express student loans.
According to the source, the loan is given within 24 hours, as well as offers an annual interest rate of 16.25%.

The borrowers can get a 14 % discount from the annual interest rate on the next loan if no delays are recorded in the course of repayment of the previous loan.
“The Armenian market doesn’t have such interest rates as of now,” the bank said.
Another advantage of the new loan is that its upper limit amounts to the student’s tuition fee  per  one academic year.

Any student above 18 may apply for the loan as a borrower; otherwise any member of the student’s family may apply.
Anelik Bank will require just one guarantor.
Lending Department Deputy Head at the Bank Artur Asatryan said the bank will be able to allocate 400 student loans in 2012.

According to him, in 2011 the bank distributed 300 student loans. “It is a satisfactory result if we take into account the customer creditworthiness, and the fact of being new at student lending,” he added.
Asatryan also said that offering so many privileges the loan will be popular with the borrowers.
“As the motto of this banking instrument is “Education is a base for welfare,” we hope to raise the access to  education,” he clarified.

Anelik Bank was established on August 1, 1990 by light industry enterprises and organizations as Anelik commercial bank.In 1996 it was reorganized and operated as OJSC Anelik Bank till 2007. Currently it is functioning as CJSC Anelik Bank. Its shareholders are CreditBank S.A.L- 69.5%, Samvel Chzmachyan- 12.25%, Galina Voronina- 12.25%, Armen Kazaryan- 6%. —0--