Features | Proposed |
Product Name | |
Basic Criteria | - Any Myanmar Citizen, who are salary, employed individuals with Age 20 to 60
- Minimum (6) months experienced in existing employment.
- Recommendation Letter from HR with official company’s letter head
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Eligible Customer | - Any company staff or government staff whoever has stable monthly salary
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Maximum Financing Quantum | - First: 2 times of monthly salary (Not more than 2 mil)
- Second and Onwards: Up to 5 mil
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Loan Tenor | - First: 6, 9, 12 months
- Second and Onwards: 6, 9, 12, 18, 24 months
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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.)
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Interest | - 28% p.a. (Bases on any changes made by FRD or related department)
|
Interest Calculation Method | - Declining
- Simple (as per case – please see for “Repayment Frequency” for detail)
|
Service Charges | - 6m – 0.5%
- 9m – 1%
- 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
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Minimum Prepayment on Principal | |
Prepayment Fee | - 2% on total prepaid Principal (Partial/ Full Amount)
|
Debt Service Ratio | |
Disbursement Channel | |
Repayment Frequency | Disbursement at End of Month | Disbursement on any day else | - Each Monthiversary Date of Loan Disbursement (P+I)
| - First Month – Interest only with daily basis
- Second & Onwards – Principal + Interest on each end of month
|
|
Repayment Channel | - A/C transfer
- OTC payment at Branch
|
Available Location | |
Loan Approval Expiration | - (1) week from loan approval has been officially informed to client by LO.
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