YEREVAN, October 16. /ARKA/. Bank Anelik improved terms of its “Wedding” loan having reduced the annual interest rate and extended the list of branches giving out this loan, the bank’s press office reported.

The loan is provided for 5 years worth 1-5 million drams of equivalent in foreign currency in all branches, according to the report.

Under the improved terms, the annual interest rate is 21.3% (instead of former 23.9%) for “Wedding” loans in drams, 16.3% (instead of 18.9%) for loans in dollars and 15.3% (instead of 16.9%) for euro loans.

The Wedding loan was introduced by Bank Anelik on March 29 and provides couples an opportunity to celebrate their wedding. The loan may be also taken by people who want to arrange any other celebration.
Borrowers, especially newly-weds may find it difficult to provide numerous evidence of their creditability, hence the loan is provided against real estate security with no other documents required, chairman of the bank’s board Nerses Karamanukyan said.

Most part of the branches will be allowed to give the loan out also against not only apartments, but also private houses, according to the report.

Apart from this, borrowers will get MasterCard Gold or VISA GOLD as a present from the bank to get discounts while shopping in about 500 sales and service points of Armenia.

Bank Anelik was established on July 9, 1990, and got registered on October 1, 1991.

In October 1996, the bank received its license from the Central Bank of Armenia.

Back in July 2009 CreditBank S.A.L., one of the leading Lebanese banks, obtained 51% of Bank Anelik’s shares.  CreditBank S.A.L. increased its share to 89.95% in 2012 and consolidated 100% of Bank Anelik’s shares in 2013. -0–