YEREVAN, August 7. /ARKA/. VTB Bank (Armenia) has unveiled today a new offer it has designed specifically for the clients who are provided with car loans by other banks and credit organizations saying that it can refinance these loans.

According to a bank press release, the new offer enables customers with a positive credit history to move car loans to VTB Bank (Armenia) under better terms.

Loans are refinanced as "car loan" with an interest rate of 13.5% and a repayment period of up to 60 months. The maximum period from the date of production of the car at the time of refinancing shall not exceed 10 years.

One of the obvious advantages of the car loan refinancing is that the valuation of the car does not require the services of independent valuation companies, since the bank evaluates the car for free, and for the entire loan period insures the borrower and the car under Casco insurance.

A preliminary decision on refinancing of car loans is made in a matter of minutes, and this requires only a document proving the identity of the borrower and his/her social card.

More detailed information about the terms of this offer is available at the bank's branches, at its official website at www.vtb.am, or by calling 87-87.

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