YEREVAN, May 8. /ARKA/. VTB Bank (Armenia) has a new offer for pensioners - the Credit Line for Pensioners at better terms, the bank’s press office reported on Tuesday.

The bank offers the credit line for no annual interest rate (effective annual interest rate is 19.5%) and a simplified repayment mechanism.

The Credit Line for Pensioners is provided to the pension cards. Pensioners under 78 are eligible to receive the credit line.

The maximum sum of the credit line is equal to the threefold monthly pension and the maximum term is 18 months.

The monthly commission is equal to 1.5% of the amount of the credit line, and the card servicing and cash withdrawal from VTB Bank (Armenia) and ACBA-CREDIT AGRICOLE BANK ATMs is free.

There will be no need to visit the bank’s offices for repayment, since the sum equal to 7% of the size of the pension will be taken automatically from the pension every month.

Demand for The Credit Line for Pensioners is quite high for its special terms and simplified repayment scheme.

More details about the product are available in the bank’s offices, on the bank’s website. The bank’s information service’s 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---