VTB Bank (Armenia) introduced a new product - "Credit line to retired  persons" at zero rate

ArmInfo.VTB Bank (Armenia) introduced a new product - "Credit line to pensioners" for persons of retirement age at a zero rate, only a monthly maintenance fee is  charged from the customer. According to the press service of the Bank, this is a AMD loan line opened for the client's current pension card.

The basic conditions of the product "Credit line to pensioners":  credit is given to pensioners under the age of 78 years; the maximum  amount of the credit line is three times the amount of the pension;  the maximum term of the credit line is 18 months (with automatic  prolongation); Monthly commission on the amount of the loan limit -  1.5%; card servicing and cashing out from ATMs of VTB Bank (Armenia)  and ACBA- Credit Agricole Bank is free of charge.

The mechanism for repayment of a loan line for the retired persons is  drawn up according to a simplified scheme, due to which customers  cannot visit the Bank for making payments to repay the credit line.

More detailed information on repayment terms and tariffs of the  "Credit line to pensioners" product can be found through the Contact  Center of VTB Bank (Armenia) at the number 8787.

According to the 16th issue of the analytical review "Armenian Banks  in Card Business" prepared by ArmInfo News Agency,  VTB Bank  (Armenia) holds the leading position in terms of the number of active  cards, both general and MasterCard and Visa, as well as the volume of  plastic transactions. So, on October 1, 2017, the Bank has almost 334  thousand cards, of which over 181 thousand are MasterCard and about  153 thousand are Visa. For 9 months of 2017, the volume of plastic  transactions on VTB Bank (Armenia) cards was 181.2 billion AMD, of  which about 93% or 167.2 billion are ATM transactions.  The Bank  managed to increase the volume of plastic transactions in the annual  cut by 13.5%, and ATM transactions by 14%. Until 2013, VTB Bank  (Armenia) issued and serviced only international VISA cards, and  since September of that year, having become a full member of the  international payment system MasterCard Worldwide, started issuing  and servicing Cirrus / Maestro and MasterCard cards, along with  servicing and local ArCa cards. VTB Bank (Armenia) has its own  processing.

VTB Bank (Armenia) CJSC became a participant in the international  financial group VTB in April 2004.  At present, VTB Bank, the second  largest bank in Russia, owns 100% of VTB Bank (Armenia). The Bank is  traditionally one of the leaders of the banking system of the  Republic of Armenia in terms of key indicators. The coverage of the  branch network of VTB Bank (Armenia) has 67 branches with presence  not only in the capital, but also in all regions of the country.