Car loan promotion (Tahoe)

Loan term

• up to 36 months

Loan purpose

For the purchase of Chevrolet Tahoe vehicles

Annual interest rate

• up to 10% per annum

Loan amount

Depending on the cost of the vehicle

Collateral

• The motor vehicle being purchased;

• Collateral in the form of other liquid assets acceptable to the Bank.

The total amount of collateral must be at least 125% of the loan amount.

Repayment frequency

• For the principal debt - monthly;

• Accrued interest – monthly.

Interest accrual on the loan begins from the date of loan fund utilization on the actual outstanding loan balance.

Initial payment

At least 25% of the value of the vehicle.

Requirements for the potential Applicant

• Business entities registered in accordance with the procedure established by 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 flow of the borrower/co-borrower/guarantor to ensure timely loan servicing;

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

• Other requirements for potential Borrowers/Co-borrowers/Guarantors, collateral, and conditions for obtaining a loan are governed by the Bank's Credit Policy and relevant local regulations of the Bank.
  

Required documents

• 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 income statement as of the first day of the current month.

• Resolution of the borrower’s/co-borrower’s authorized body approving the borrowing of the required loan amount under the relevant terms and the provision of collateral for the loan;

• If you have accounts with other banks, you'll need to get letters from those banks saying you don't have any debts on file #2, loans, leases, or letters of credit, as well as info on your turnover for the last 12 months in the form of a letter from your bank with the name of the person who did the work and a breakdown in electronic form.

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

• Documents relating to the 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.”

Loan granting form

Non-cash transfer of funds to the supplier's account from the customer's loan account in accordance with the purchase and sale agreements provided.

Place of loan application submission

The loan application and processing are carried out at the bank's branches and offices.

Loan processing time

The loan application processing time is 3 days from the date of application submission. The decision on the loan application will be communicated to the client within 24 hours.

Additional fees for loan review and processing

No

Early repayment

Early repayment of this type of loan is allowed without additional fees or penalties.

Grace period on principal debt and interest

There is no grace period for the principal and interest.

Possible factors for rejecting a loan application

1. If there are overdue debts on the principal amount and/or accrued interest on existing loans, leases, or guarantees;

2. The existence of loan balances in the process of legal proceedings, as well as the principal amount of debt and interest on loans transferred to an off-balance sheet account;

3. Illiquid and/or unprofitable activities

4. The existence of debts owed to the Bureau of Compulsory Enforcement;

5. If there is evidence of outstanding debt on previously obtained loans for more than 30 days (consecutively) within the last 12 months;

6. Number of days on file-2 over 30 days within 6 months;

Possible factors for approving a loan application.

1. Positive credit history (timely repayment of loans and interest, no current overdue loan debt).

2. Stable monthly income of a potential borrower

3. Profitable liquid activities

4. Presence of collateral in the amount and volume necessary to cover the loan (at least 125% of the loan amount).

Interest on the overdue portion of the car loan under the promotion - 35.98% per annum

Attention! The interest amount of the loan is calculated based on the nominal interest rate, and the total cost of the loan shows how much the loan will cost you when you pay interest and other types of payments on time and in the specified amount. The procedure for calculating the total cost of a loan can be found in the “Loans” section.

Attention! The nominal interest rate of this loan may be changed. However, this change will be agreed with the loan applicant!