YEREVAN, May 4 /ARKA/. VTB Bank (Armenia) has unveiled today a new loan refinancing program, designed to help its customers reduce their monthly financial burden.

It said the customers who have one or more loans / lines of credit in other banks and credit organizations and who make monthly payments in due time may transfer their loans to VTB Bank (Armenia) by combining them into one loan.

According to a bank’s press release, the refinancing program provides an opportunity to lower the rate on the loan / to combine their monthly payments into one, increase the repayment term and also to receive an additional loan amount. It said the new refinancing program is for unsecured consumer loans, credit lines, POS loans and car loans. Loans are refinanced into unsecured consumer loan called Universal.

VTB Bank (Armenia) loans are provided for a period of 60 months at 12% interest rate. No commission is charged for the consideration of applications and the issuance of loans. A monthly fee of 0.11% of the loan amount is charged only.

The Bank's refinancing program is available to all borrowers with a positive credit history. More detailed information about the terms of the refinancing loans at VTB Bank (Armenia) are available at the bank's branches, at www.vtb.am, and by calling 87-87.

VTB Bank (Armenia) CJSC became a part of the VTB international financial group in 2004. Currently, VTB Bank, the second largest in Russia, owns 100% of VTB Bank (Armenia). It runs 67 branches in the country. -0-