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Terms of VTB Bank (Armenia) lending in conformity with consumer lending laws

25.02.2016 16:06

Terms of VTB Bank (Armenia) lending in conformity with consumer lending laws

YEREVAN, February 25. /ARKA/. Terms of the VTB Bank (Armenia) lending are in conformity with Armenia’s consumer lending laws, the press office of the bank reported on Wednesday.

“Responding to the information released by some media resources that the monthly fee for servicing installment loans extended by VTB Bank (Armenia) exceeds the interests and the principal amounts of debts, VTB Bank (Armenia) states that this allegation has nothing common with the reality,” the bank’s press release says.

According to the pres release, all the terms, including the repayment deadline, amount, nominal interest rate, effective interest rate and commission fees, are specified in loan contracts signed between the bank and its clients.

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