YEREVAN, February 5. /ARKA/. VTB Bank (Armenia), focusing on the needs of its customers, continues to expand its product line. According to the press service of the bank, this time bank offer real-estate secured consumer loans, which are provided to individuals for any purpose and can be the best solution to cover consumer expenses.

The main advantage of a consumer loan secured by real estate is its amount that may reach up to AMD 10 million. The only condition is that the client must have a permanent job. No additional checks of solvency are required.

This type of loan also has the following advantages:

- no need for the Bank to track the intended use of the loan. The client has the opportunity to use the loan for various consumer purposes at his/her own discretion,

- fast procedure for obtaining credit funds: the maximum period for making a preliminary decision is 2 working days.

- the entire loan amount is credited to the client's bank account.

The basic lending conditions are the following:

• annual nominal interest rate - 13.6% or 14.6% (effective annual interest rate is 17.7% -21.9%)

• loan amount from 800 thousand to 50 million AMD, but not more than 60% of the value of the collateral (depending on the location of the real estate)

• loan repayment term - from 1 to 10 years

• method of repayment - annuity equal monthly payments; no penalty is imposed in case of early repayment of the loan.

The loan can be secured by apartments, residential buildings, office areas, operating shops, restaurants / cafes, hotels in the territory of the Republic of Armenia. The market value of the collateral is assessed by the Bank free of charge.

The loan can be issued in the name of an individual who is a resident of the Republic of Armenia, who has a permanent registration or actual place of residence. This type of loan provides an opportunity, if necessary, to attract also a co-borrower (no more than 2 persons), who must be related to the borrower.

More detailed information about the terms of the loan, as well as the requirements and applicable fees can be found on the Bank's website, at the Bank's branches or by calling the Bank's Contact Center at 87-87.

The bank is controlled by the Central Bank of Armenia.

VTB Bank (Armenia) became a member of the international financial group VTB in April 2004. At present, PJSC VTB Bank, the second largest in Russia, owns 100% of the shares of VTB Bank (Armenia). -0-