VTB Bank (Armenia) unveils improved mortgage lending terms
04.12.2019,
15:24
VTB Bank (Armenia) has unveiled today improved terms for obtaining a mortgage loan, saying it has lowered the down payment up to 3% of the cost of the property enabling clients both in the capital city Yerevan and beyond it to become owners of homes.
YEREVAN, December 4. /ARKA/. VTB Bank (Armenia) has unveiled today improved terms for obtaining a mortgage loan, saying it has lowered the down payment up to 3% of the cost of the property enabling clients both in the capital city Yerevan and beyond it to become owners of homes.
According to a VTB Bank (Armenia) press release, mortgage loans are provided for the purchase of homes from developers, from the secondary market, as part of the program called housing for young families, also for home repair and reconstruction.
VTB Bank (Armenia) requires the minimum package of documents and a preliminary decision is made within 1.5 business days.
The main terms of mortgage lending are the following: initial down payment starts from 3%, the annual interest rate ranges from 3.5% to 13.7%, the effective interest rate - between 6% to 15%, the minimum loan term is 3 years and the maximum is 30 years, the minimum loan amount starts form one million Armenian drams and the maximum loan amount is 80 million drams. The bank has also facilitated requirements for solvency of the borrowers.
All the necessary terms for obtaining a mortgage loan can be found on the official website of the Bank at www.vtb.am. VTB Bank (Armenia) is overseen by the Central Bank of the Republic of Armenia.
Detailed information on mortgage lending terms can also be obtained at the bank's branches and by calling 87-87.
VTB Bank (Armenia) CJSC became a member of VTB International Financial Group in April 2004. Currently, the second largest VTB Bank PJSC in Russia owns 100% of its shares. - 0--
According to a VTB Bank (Armenia) press release, mortgage loans are provided for the purchase of homes from developers, from the secondary market, as part of the program called housing for young families, also for home repair and reconstruction.
VTB Bank (Armenia) requires the minimum package of documents and a preliminary decision is made within 1.5 business days.
The main terms of mortgage lending are the following: initial down payment starts from 3%, the annual interest rate ranges from 3.5% to 13.7%, the effective interest rate - between 6% to 15%, the minimum loan term is 3 years and the maximum is 30 years, the minimum loan amount starts form one million Armenian drams and the maximum loan amount is 80 million drams. The bank has also facilitated requirements for solvency of the borrowers.
All the necessary terms for obtaining a mortgage loan can be found on the official website of the Bank at www.vtb.am. VTB Bank (Armenia) is overseen by the Central Bank of the Republic of Armenia.
Detailed information on mortgage lending terms can also be obtained at the bank's branches and by calling 87-87.
VTB Bank (Armenia) CJSC became a member of VTB International Financial Group in April 2004. Currently, the second largest VTB Bank PJSC in Russia owns 100% of its shares. - 0--
