VTB BANK (ARMENIA) JOINS THE PROGRAMME "AVAILABLE APARTMENTS FOR YOUNG FAMILIES"

ArmInfo
19.04.2010

ArmInfo. VTB Bank (Armenia) has joined the programme "Available
apartments for young families"

As press-service of the bank reported, according to the requirements
of the program, young family is the family where the total age of
the couples is not more than 60 years, one of the couples is not more
than 35 years and the age of single parent does not exceed 30 years.

Maximum size of credit is 16 million drams. UCO "Apartments for youth"
was registered and got license on February 16, 2010 by the decision
of the Armenian Central Bank.

The mortgage credits will be given in Armenian national currency
within 9,5-10% interest rate, 2% of which will be subsidized by the
state. This means that the borrowers will get credit at the rate
7,5-8%. The maximal term for credit repayment is fixed at 20 years
and maximal sum of the apartment purchased – 16 mln drams and 30%
prepayment. "We are glad to join this initiative of the Armenian
state and support young families living in the country to buy their
own apartments. VTB Bank (Armenia) will always take part in such
programmes, since we are sure that in such a way we shall contribute
in development of the economy of the country and improvement of
social conditions of population. For its part, VTB Bank (Armenia)
as one of the leading and universal banks of the country, will always
give wide specter of new products to the population of the republic
at available conditions", – director general of VTB Bank (Armenia)
Baleriy Ovsyannikov said.