VTB Bank (Armenia) offers preferential student loans
21.05.2020,
17:54
VTB Bank (Armenia) said today it was ready to provide preferential student loans as part of a special government-designed program.
YEREVAN, May 21. /ARKA/. VTB Bank (Armenia) said today it was ready to provide preferential student loans as part of a special government-designed program.
The bank said undergraduate, graduate and post-graduate (clinical residency) students majoring at paid departments of state-owned and state-accredited educational institutions, can apply for student loans on the following preferential terms: the annual interest rate is 6% or 7% depending on academic performance. Loan term is from 3 months to 10 years; loan amount for one academic year tuition is from 50,000 to 700,000 drams; the maximum loan amount for the entire period is 2.8 million drams. No commission is charged.
As part of special anti-crisis measures of the Armenian government to support the country's population amid the coronavirus pandemic, the bank offers special additional benefit: until the end of 2020 the loan will be serviced at an annual percentage of 0% or 4% (depending on academic performance).
Detailed information on the 14th program of the Armenian government can be found on the official website of the government.
Student loans can be issued to citizens and residents of the Republic of Armenia aged 16 - 65. The student (borrower) must have the guarantee of a parent or a guardian. Income statement is not required from the borrower (student). The parent or the guardian should have sufficient income and in case of insufficient income or none at all, the borrower can attract a co-borrower.
The student loan is issued with an annual interest rate of 9%, of which 2% or 3%, depending on academic performance, is subsidized by the government. The effective annual interest rate is 6.17% -7.33%.
More detailed information on student loans can be obtained on the bank’s website or by calling the Bank’s Contact Center at 87-87.
VTB Bank (Armenia) is controlled by the Central Bank of Armenia.
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 the shares of VTB Bank (Armenia). -0-
The bank said undergraduate, graduate and post-graduate (clinical residency) students majoring at paid departments of state-owned and state-accredited educational institutions, can apply for student loans on the following preferential terms: the annual interest rate is 6% or 7% depending on academic performance. Loan term is from 3 months to 10 years; loan amount for one academic year tuition is from 50,000 to 700,000 drams; the maximum loan amount for the entire period is 2.8 million drams. No commission is charged.
As part of special anti-crisis measures of the Armenian government to support the country's population amid the coronavirus pandemic, the bank offers special additional benefit: until the end of 2020 the loan will be serviced at an annual percentage of 0% or 4% (depending on academic performance).
Detailed information on the 14th program of the Armenian government can be found on the official website of the government.
Student loans can be issued to citizens and residents of the Republic of Armenia aged 16 - 65. The student (borrower) must have the guarantee of a parent or a guardian. Income statement is not required from the borrower (student). The parent or the guardian should have sufficient income and in case of insufficient income or none at all, the borrower can attract a co-borrower.
The student loan is issued with an annual interest rate of 9%, of which 2% or 3%, depending on academic performance, is subsidized by the government. The effective annual interest rate is 6.17% -7.33%.
More detailed information on student loans can be obtained on the bank’s website or by calling the Bank’s Contact Center at 87-87.
VTB Bank (Armenia) is controlled by the Central Bank of Armenia.
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 the shares of VTB Bank (Armenia). -0-
