Car Loan

Form of Lending: Without opening a credit line (one-time issuance/disbursement in tranches).

Loan purpose Provision of loans to corporate clients engaged in business activities for the purpose of purchasing passenger vehicles (both new and used) in the amount of. No more than 2 units for administrative and representative purposes.

Method of Lending: Non-cash transfer of funds to current accounts or plastic cards of suppliers from the customer's loan account in accordance with the provided purchase and sale agreements.

Loan term: up to 36 months

Possibility of establishing a grace period for principal repayment: up to 6 months.

Loan Currency:

• National currency of the Republic of Uzbekistan — Uzbek som.

• Foreign currency.

Interest Rate:

• From 23.99% for loans in national currency;

• From 12.99% for loans in foreign currency.

Minimum Loan Amount: not established.

Maximum Loan Amount: Not established; determined individually based on the client’s creditworthiness and within the economic standards of the Central Bank of the Republic of Uzbekistan.

Loan Repayment: Monthly, through annuity or differentiated payments.

Acceptable Types of Collateral:

• Pledge of funds in freely convertible and national currency held in accounts opened with JSC «InFinBank»;

• Guarantees from banks and insurance companies;

• Pledge of movable/immovable property;

• Pledge of property rights (claims);

• Pledge of government securities, Central Bank of the Republic of Uzbekistan securities, other securities not prohibited by current legislation, and shares in charter funds;

• Objects being constructed with the loan funds;

• From third parties with verified solvency and financial reliability;

• Insurance policies of financially stable insurance companies;

• Other types of collateral not prohibited by current legislation.

Collateral Coverage Ratio:

• at least 125% of the Loan amount.

• In cases where the borrower is affiliated with the bank, within the limits established by law.

Mandatory requirements for borrowers:

• Business entities registered in accordance with the legislation of the Republic of Uzbekistan;

• Having a demand deposit account (primary or secondary) with InFinBank JSC;

• No negative credit history of the borrower/co-borrower/guarantor;

• Sufficient current cash flows of the borrower/co-borrower/guarantor to ensure timely loan servicing;

• The borrower/co-borrower/guarantor must have a liquid balance sheet, and business activities must not be unprofitable;

• Other requirements for the potential borrower/co-borrower/guarantor, collateral, and loan conditions are regulated by the Bank’s Credit Policy and corresponding internal regulatory documents.

List of Documents Provided by the Borrower:

• Loan application with a description of all loan terms and collateral requirements;

• Borrower’s certificate of state registration;

• Copy of the charter and founding documents of the enterprise, including all amendments;

• Copy of documents confirming the authority of the person to sign the loan agreement on behalf of the borrower, if the person acts as the borrower’s representative, including signature specimens;

• Financial statements in the form of a balance sheet and an income statement for the last financial year, as well as as of the first day of the current month, including a breakdown of fixed assets and accounts receivable and payable.

• Resolution of the borrower’s authorized body on attracting the required loan amount under the relevant terms and providing collateral;

• If the borrower holds accounts in other banks — certificates from the servicing banks confirming the presence or absence of the borrower’s debt on loans, leases, letters of credit, and other obligations, as well as information on account turnover for the past 12 months in the form of a letter from the servicing bank with a detailed breakdown in electronic format;

• Contracts for the purchase of motor vehicles to be paid under the requested loan;

• Documents on collateral provided, in accordance with the “Procedure for accepting and evaluating collateral for credit operations carried out by the corporate lending divisions of InFinBank JSC” 

The terms of lending under this product using borrowed funds are determined based on the conditions of the attracted credit lines.