YEREVAN, December 2. /ARKA/. VTB Bank (Armenia) has made loans secured by golden jewelry more affordable for its clients, the press office of the bank reported on Wednesday.

Demand for the gold-secured loans is highest at the market. “When financial resources become necessary and one has golden jewelry, formalization of a gold-secured loan in VTB Bank (Armenia) is a convenient and safe solution,” the pres release says.

The loan formalization takes 20 minutes and requires only one visit to the bank.

According to the press release, VTB Bank (Armenia) extends gold-secured loans to Armenian residents in drams. Only an identification documents and the number of social card are needed.

The bank lends no more than AMD 3 million at nominal interest rates starting from 22%.
It accepts golden jewelry and diamonds (on jewelry or separately) as pledges.

“The bank offers the assessed cost beneficial to clients, and loan-pledge ratio is set at 100%,” the bank's press office says in the news release. “Assessing the cost of jewelry, the bank doesn't take into consideration artistic merits and other precious and other stones.”

To formalize a loan it is necessary to visit any of the bank's 65 branches.
“You can receive more detailed information by calling VTB Bank (Armenia) enquiry service (87-87) or visiting the bank's official website,” the press release says.

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 its general indicators.----0---