YEREVAN, May 8, /ARKA/. VTB Bank (Armenia) has once again reduced effective rates on installment loans, offering its clients loans not only with lower interest rates, but also with reduced commissions.

The bank said in a press release that loans can now be provided to customers with unregistered income. From now on, VTB Bank (Armenia) clients while making purchases in partner shops can arrange installments on favorable terms (different lending terms are effective in different partner shops of the bank).

The loan size is up to 1.5 million drams with 0% interest rate, 0% down prepayment and up to 60 months repayment period. No monthly service fee is charged. The loan is formalized on the spot without the need to visit the bank. Customers need to have an ID document and social card. Individuals, residents of Armenia, who have reached the age of 21, can apply for the loan.

The loan is provided for the purchase of household appliances, furniture, building materials, mobile phones and other goods in more than 350 retail outlets throughout Armenia. Fore more information one should visit the Bank's branches, www.vtb.am, or call 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