YEREVAN, February 28./ARKA/. Customers of VTB Bank (Armenia) can now open social accounts at the bank within the framework of the social package program, the bank reported ARKA on Thursday.

In January 2012, the Armenian lawmakers introduced the new social package that is targeted at civil and public servants in culture, education and social security spheres. Each employee will receive 132,000 drams annually.

“From now on, all interested customers can open social accounts at VTB Bank (Armenia) which will further coordinate these accounts. The physical presence of the customers will not be required any longer,” according to the source.

Social account transactions will be made in four directions: payments for health insurance, tuition, mortgage loans and vacations on the territory of Armenia and the Nagorno-Karabakh Republic.

The employees of large organizations can apply to “distance opening of social accounts.”
In that case, the bank specialists will visit such organizations, register and proceed the full applications on the spot.

Moreover, the customers can get loans of up to six-time size of their social package amount to make payments to the four directions mentioned above.

In addition, the clients can make simultaneous payments within the social package without waiting for refills on their accounts.

VTB Bank (Armenia) customers can open social accounts at all 67 branches of the bank throughout Armenia.

The beneficiaries of the social package and their family members, including spouses and single children up to 27 years old, regardless their job positions and salary will equally enjoy a number of social services. The package covers medical insurance, monthly redemption of mortgage credits, tuition fees at accredited universities, and vacations in Armenia and Nagorno-Karabakh.

VTB Bank Armenia joined VTB Group in April 2004. VTB, the second largest bank of Russia, holds 100% of shares of VTB Bank (Armenia). It has the largest branch network in the country – 67.—0–