YEREVAN, December 29. /ARKA/. VTB Bank (Armenia) is to resume providing car loans with more beneficial terms, the bank’s press office reported on Wednesday.

The bank offers loans in drams to individuals for purchasing both new and second-hand cars.

The offer is addressed to residents aged above 23 and to those who have not turned 65 at the moment of the loan repayment.

Loans intended for purchasing new cars are formalized within five days and loans for buying second-hand cars are extended within two days.

Insurance of borrowers or co-borrowers will be borne by VTB Bank (Armenia) throughout the entire term of the loan.

The loans are provided at 16% interest rate. The maximum size of the loan is AMD 28 million and prepayment starts from 20%.

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---