YEREVAN, November 11. /ARKA/. The Yerevan-based VTB Bank (Armenia) has announced today a string of preferential terms for individual customers seeking to obtain gold-secured loans.

The special offer is designed both for residents of the capital city Yerevan and the regions of the country. According to a bank’s press release, the  nominal annual interest rate for loans in Armenian drams begins  from 18.5%, while interest rate for loans  in US dollars (for farmers) begins from 13.5%. In addition, the loan amount is 10% higher than the estimated value of pledged gold items, and the maximum loan amount is 3 million drams or $7,000.

The main advantage of the proposal is  the evaluation of gold items at the current highest market value plus 10%. Also, the loan application is processed within a few minutes. Customers have to present the  minimum set of documents – a passport and a social card. The borrower also gets the opportunity to formalize an insurance contract against accidents.

The loan can be repaid not only at 65 branches of the Bank, but also via TelCell and Easy Pay terminals, located throughout the territory of Armenia and operating  around the clock. The special offer is  valid until December 30 of the current year

More detailed information on the offer can be found at  VTB Bank (Armenia) branches, at www.vtb.am website, as well as by calling  87-87.

VTB Bank (Armenia) was acquired entirely by Russian VTB in  2004.  It runs 67 branches in Armenia, more than any other local bank.-0-