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ENMicroloan Terms
- Microloan Amount The amount is from 10 reference calculation value (RCV) up to 50 million soums
- Microloan Terms Up to 36 months
- Form of Provision Non-cash transfer to debit card
- Interest Rate Up to 24 months – 32 % per annum
From 24 months to 36 months – 36 % per annum
- Collateral Personal loans of up to 50 million soums can be issued on the basis of a guarantee.
- How to Apply? At the bank office and branches
- Repayment Frequency Monthly repayment of principal and interest amount
To apply for a loan, official employment is required. Borrowers can be
employees of public and private organizations.
To apply for a microloan, you need to submit applications at the bank's
office.
Only an identity document is required for registration.
Microloans of up to 50 million soums can be issued on the basis of a guarantee or collateral
The application is reviewed within three working days.
The loan can be repaid in several ways:
• Remotely, through the Hamkor Mobile application or other payment applications.
• Through self-service terminals.
• In bank offices: by making a payment by card or cash.
• Remotely, through the Hamkor Mobile application or other payment applications.
• Through self-service terminals.
• In bank offices: by making a payment by card or cash.
Will a microloan application be processed if I have current loans from other financial institutions?
It is possible if there is no overdue debt on existing loans and the debt load will not exceed 50% of the average monthly income.
Please note that the interest amount of the loan is calculated based on the nominal interest rate, and the full cost of the loan indicates how much the loan will cost if interest amounts and other types of payments are paid on time and in the prescribed amount.
The procedure for calculating the full cost of the loan can be found at: https://hamkorbank.uz/credit-calc.
The nominal interest rate of this loan can be changed by the bank, and the rate change will be agreed with the borrower.
- Application review period: 5 days; in case of providing a complete list of required documents;
- Loan repayment frequency: monthly, in the amounts specified in the repayment schedule
- Early repayment: early repayment is provided without additional fees and penalties;
- Fines and penalties: In case of violation of the terms of repayment of the principal debt on the loan, the interest rate on the amount of overdue debt increases 1.5 times from the date of formation of this overdue debt;
- Penalty for overdue interest – 0.1% per day;
- Collateral - at least 125% of the loan amount.
Factors influencing a positive decision on granting a loan:
- Positive credit history;
- Permanent source of income;
- Provision of the required collateral for the loan;
- Completeness of the provided list of documents.
Factors influencing the negative decision to granting a loan:
- Negative credit history;
- Lack of a permanent source of income;
- Lack of collateral for the loan;
- Incompleteness of the provided list of documents.
- A copy of the loan recipient's ID (passport or military service certificate)
- In cases where it is difficult to determine the average monthly income of the client, a certificate of income may be requested
- The contract between the customer and the manufacturer of the goods (providing the service or selling this product)
- Documents on collateral property
- Citizens of the Republic of Uzbekistan and stateless persons permanently residing in the territory of the Republic with stable income;
- Absence of overdue debts on previously issued loans.
* The full cost of a loan is understood as the interest rate in a reliable, annual and effective calculation, which takes into account the borrower's payments related to obtaining a loan. The calculation of the full cost of the loan includes the borrower's payments, including payments in favor of third parties, if the borrower's obligation for such payments follows from the terms of the agreement and (or) if the issuance of the loan is dependent on making such payments.
How to Apply for the Loan
To Apply for the Loan, Please Visit your Nearest Bank Branch.
For More Information Please Call
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