Microloans

Microloans

Microloans

Loan term

12 months

Loan purpose

Microloans are provided in the national currency of the Republic of Uzbekistan. for any purpose, by transferring money to the bank’s plastic cards of the borrower (client) opened with InfinBANK, or by transferring the amount of a microloan to a deposit account on demand of the borrower opened with InfinBANK.

Annual interest rate

26,99%

Loan amount

Up to 100 BCV (BCV – Base calculated value)

Collateral

1) a guarantee of an individual or legal entity;

2) loan default risk insurance policy;

3) pledge of other liquid property satisfying the Bank.

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

Repayment rate

The main debt - monthly.

Accrued interest - monthly.

The interest on the loan starts from the date of use of the loan funds on the actual balance of the loan debt.

Requirements for a Potential Borrower

• Age from 18 years;

• Citizen of the Republic of Uzbekistan; A stateless person and a foreign citizen permanently residing in the Republic of Uzbekistan;

• Have a working experience at the current place of work for at least 6 months prior to the date of application for a loan;

• Have a positive credit history (absence of overdue debts on current loans as well as a lack of history on late fulfillment of obligations to the bank / banks).

Required documents

1. Application for a loan.

2. The availability of a wage plastic card and revolutions on it for a period of at least 3 months. In this case, the turnover should be sufficient to cover the costs of all existing loans (including the newly received loan);

3. The original passport or other document confirming the identity and place of residence of the Borrower, from which a copy is made by the Credit Officer;

4. Collateral documents.

Loan Form

It is provided in national currency (sum) in non-cash form, by a bank transferring funds to the plastic cards of the borrower (client) opened with InfinBANK or by transferring a microloan to a deposit account on demand of the borrower.

Place of loan application

Loan application and loan processing is carried out in branches and branches of the bank.

Deadline for loan consideration

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

Advance payment

Not provided.

Additional payments for consideration and processing of a loan

Are absent

Prepayment

It provides for early repayment of this type of loan without additional fees and penalties.

Grace period for principal and interest               

Not provided.

Possible factors for making a negative decision regarding the provision of a loan

1. Negative credit history (not timely repayment of principal and interest on loans, the presence of current overdue loans);

2. Unstable income of the potential borrower or their absence (lack of constant income at the current place of employment for at least 6 months prior to the date of application for a loan);

3. Not correct, not reliable, not complete  information which is provided by the potential borrower.

4. Lack of collateral for the loan.

Possible factors for making a positive decision regarding the provision of a loan

1. Positive credit history (timely repayment of loans and interest, lack of current overdue loans).

2. Stable income of the potential borrower (at the current place of work for a period of at least 6 months prior to the date of application for a loan)

3. Satisfactory financial position of the potential borrower

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

In case of violation of the terms for repayment of the main debt on the loan, the interest rate on the amount of overdue debt increases 1.5 times from the date of formation of overdue debt.

Attention! The interest loan amount is calculated on the basis of nominal interest rate. And the full loan value shows how much the loan will cost you in case of payment of interest sums and other types of payments in the established terms and in the established size.

Attention! The rated interest rate of this loan may be changed. This change will be agreed with the borrower!


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