ArmBusinessBank - Armenia issued the following announcement on July 31.

Dear customers and partners,

ARMBUSINESSBANK reduces annual interest rates on mortgage dram loans in order to improve the conditions of products and services rendered to customers, thereby making them more affordable for their customers.

Effective of August 1, 2018, the annual interest rate on mortgage dram loans issued by ARMBUSINESSBANK CJSC for the acquisition or construction of immovable property is reduced by 1% and will make 10.9% p. a.; while mortgage dram loans for repairing of real estate are reduced by 1% and will make 11.9% p. a.

The annual interest rate on mortgage lending provided by ARMBUSINESSBANK CJSC in RA marzes for the acquisition of real estate under “Housing to youth” program is reduced by 1% and will make 3.4% p. a., and 7.4% in Yerevan.

You can get acquainted with the rates and conditions of the Bank's mortgage loans in any branch of the Bank or on its official website www.armbusinessbank.am.

Through decreasing the annual interest rates on mortgage loans, the Bank enables its customers to realize their goals and use the products offered by the Bank on more favorable terms.

ARMBUSINESSBANK, a reliable way to the future …

Original source can be found here.

Source: ArmBusinessBank - Armenia