YEREVAN, December 15. /ARKA/. VTB Bank (Armenia) offers secured loans at zero interest rate, the press office of the bank reported on Tuesday.

“VTB Bank (Armenia) is constantly expanding the range of its products offering clients more and more available types of loans,” the bank says in its press release. “VTB Bank (Armenia) is launching its new product – lombard loans at 0% interest rate.”

The loan is extended to Armenian residents. Borrowers need to show their identification documents and leave golden jewelry in the bank as collateral.

The minimum term of the lending is three months and maximum six months.

Clients pay only a lump-sum commission equal to 8% of the lent amount for a three-month term and 16% for a six-month term at the moment of the loan formalization.

Only one visit to the bank is needed for formalizing the loan. The formalization takes 20 minutes.

The amount to be lent depends on the pledged jewelry’s value, but it is limited to 3 million drams.

To receive more detailed information one may visit any branch of the bank or call to VTB Bank (Armenia) contact center. Phone number is 87-87.

VTB Bank Armenia (Armenian Savings Bank before June 2006) joined VTB Group in April 2004. VTB, the second largest bank of Russia, holds 100% of shares of VTB Bank (Armenia). VTB Bank (Armenia) has 67 branches all over Armenia’s territory - the largest branch network in the country.

VTB Bank (Armenia) is reckoned among leaders for general indicators. -0---