YEREVAN, June 5. /ARKA/. Bank VTB (Armenia) has even more extended its car loan choice and is now offering car loans secured against real property, the bank’s press office reported.
This means no analysis of the client’s paying capacity is done before giving the loan, according to the report.

The client is not required to make a prepayment if the loan amount is up to 5.5 million drams, says the report. If the amount of the loan is above 5.5mln drams, 10% prepayment is required.
The loans are provided in drams, the annual interest rate is 17%.

The maximum term is up to seven years (depending on car manufacturer country) for new cars and up to five years (depending on car manufacturer country) for second hand cars.

The maximum loan amount is up to 10 million drams (depending on car manufacturer country)
Bank VTB (Armenia) continues improving its car loan terms and simplifying its requirements to applicants, general director-chairman of the bank’s Directorate Yuri Gusev said.

Gusev also said the bank is cooperating with almost car salons across the country.

Bank VTB (Armenia) closed joint stock company became a member of VTB financial group in April 2004. The second biggest Russian bank, Bank VTB ojsc is now the full owner of Bank VTB (Armenia). The bank is among leaders of Armenian banking system in a number of basic indicators. It currently has the biggest network in Armenia – 67 branch offices across the country. ($1=416.84drams).  –0--