YEREVAN, June 3. /ARKA/. As a leading bank in Armenia's mortgage lending market, VTB Bank (Armenia) keeps on developing one of the most popular products having doubled its mortgage loan portfolio over the past few years, increasing simultaneously the mortgage lending by 7 times, the press service of the bank reported today.

It said the line of the Bank's mortgage products includes loans for the purchase of existing and under construction residential real estate, as well as loans for building, repairing or renovating homes.

VTB Bank (Armenia) gives young families the opportunity to purchase real estate on special preferential terms within the framework of the Affordable Housing for Young Families program.

In 2020, VTB Bank (Armenia) expanded the framework of cooperation with the Ministry of Social Affairs of the Republic of Armenia, joining the state program on housing for families with children until 2023.

The Bank also offers its clients the opportunity to refinance / buy out mortgage loans from other banks and credit organizations and reduce their monthly financial burden.

In order to provide customers with a comfortable and high-quality service, VTB Bank (Armenia) opened the first Mortgage Center in Yerevan,  located at 135, building 40, Verin Antarain Street.  It is a single comfortable and technological platform that combines all services related to purchase of housing on a turnkey basis, where clients can get professional advice from a personal manager on a mortgage loan, use of a designer services, an insurance agent, as well as arrange consumer loans and loans in installments with special discounts from the Bank's partners in order to purchase the necessary goods for a comprehensive arrangement of their homes.

VTB Bank (Armenia) was the first in the market to launch mortgage for the purchase of parking spaces. The Bank also periodically expands partnerships with developer companies, contributing that way to the development of mortgage lending on preferential terms.

VTB Bank (Armenia) offers mortgage loans with prepayments starting from only 3%, with a maturity of 3 to 30 years, the loan amount ranges  from 1 million to 200 million drams and the  annual interest rate is  3.5% -13.7% (the effective rate is 6% -15%).

Detailed information on mortgage loans can be obtained on the official website of VTB Bank (Armenia) at  https://www.vtb.am/ru/credits#hip-ot-ek#, at the Mortgage Center at 135, 40, Verin Antarain, Yerevan  (tel .: + 374-10-513749), at the Bank's branches or by calling the Contact Center at 87-87.

The activity of VTB Bank (Armenia) CJSC is regulated by the Central Bank of Armenia. - 0--