| Features |
Proposed |
| Product Name |
- Business Loan (individual)/ SME Loan
|
| Basic Criteria |
- Legal Business which has being run for at least (1) year.
- New customers or existing customer who Graduated customers from GL
- Loan purpose must be connected with the business, e.g. working capital, business expansion etc.
- Applicant must be the key management of Business, Myanmar nationality whose age is between 18-60 years old.
- One Co applicant is needed.
|
| Eligible Loan Purpose |
- Working Capital
- Business Extension
- Business Set Up for Graduated customers from GL***
|
| Eligible Customer |
- Any businesses with related business licenses issued by specific government entity.
- Any company which have formed as per Myanmar Company acts
|
| Eligible Loan Amount |
- Min: 0.1 million
- Max: 10 million
|
| Maximum Financing Quantum |
|
| Loan Tenor |
|
| Guarantee |
- Two Compulsory guarantors who have stable monthly income (One must be relative, and other can be anyone for as long as he/she has stable income.)
|
| Interest |
- 28% p.a. (Bases on any changes made by FRD or related department)
|
| Interest Calculation Method |
|
| Service Charges |
- 6m – 0.5%
- 12m – 1.5%
- 18m – 2.5%
- 24m – 3.5%
|
| Social Welfare Fund |
|
| Compulsory Saving |
- First Time – 5% on loan amount
- Second & Onwards – 1% on loan amount
|
| Minimum Prepayment on Principal |
|
| Prepayment Fee |
- 2% on total prepaid Principal (Partial/ Full Amount)
|
| Disbursement Channel |
|
| Repayment Frequency |
- Weekly P+I or
- Monthly P+I (based on cashflow of the customers and their business nature).
|
| Repayment Channel |
- OTC payment at Branch
- A/C transfer
|
| Available Location |
|
| Loan Approval Expiration |
- (1) week from loan approval has been officially informed to client by LO.
|
