Credits

«Mahalla prosperity» Microloan

24% per annum

Interest rate

up to 60 months

Credit term

up to 50 mln soums

Loan amount

Microloan «Mahalla prosperity» is a convenient solution for individuals to start their own business.

The loan is intended to finance independent entrepreneurial activity, including projects aimed at poverty reduction, creation of wide opportunities for profitable business through family entrepreneurship, support of proven clients and bringing them to the level of small and medium business, expansion of business with the participation of active entrepreneurs, radical reform of the activities of socially vulnerable mahallas, formation of the necessary infrastructure for entrepreneurial activity.

Microloan agreement

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Format: pdf

General terms

Loan target

Financing of self-employment activities, including projects aimed at poverty reduction.

Loan currency

Sum

Loan amount

up to 50 mln soums

Interest rate

24% per annum

Credit term

up to 60 months

Loan processing method

Bank branch

Form of issue

Non-cash

Collateral

An insurance policy in the amount of no less than 125% of the microloan amount, in accordance with the bank's requirements.

Grace period

yes (up to 6 months)

Repayment method

Differentiated, Annuity

Frequency of payments

Monthly

Borrower requirements

A) Microloans are issued to individuals who are citizens of the Republic of Uzbekistan aged 18 and above, residing in territories assigned by the Government of the Republic of Uzbekistan to JSCB "ASIA ALLIANCE BANK". B) The individual net income of the Borrower/Co-borrower must be at least 6 times the Base Calculation Value (BCV). C) 50% of the average monthly net income of the Borrower/Co-borrower must be sufficient to cover the maximum monthly microloan payment and the average monthly payments on existing loans/credits. In the case of a Co-borrower, 50% of the Borrower's average monthly net income must be sufficient to repay at least 50% of the maximum monthly loan payment. D) The total outstanding debt, including all microloan balances of the borrower in this and other banks, must not exceed 100 mln UZS.

Loan Provision Order

Transfer of funds to the borrower's plastic card opened at JSCB "ASIA ALLIANCE BANK"

Required Documents

- Identity document (passport, ID-card, residence permit, etc.);
- Certificate of self-employment;
- Document (or certificate) confirming payment of social tax;
- An approved favorable recommendation from the relevant Assistant Hakim is required for the disbursement of a microloan;
If necessary, other documents may be requested to ensure repayment of the loan. Information on the borrower's average monthly income is obtained by the bank independently in electronic form through special networks. In case it is impossible to determine the Borrower's average monthly income, documents confirming the average monthly income and other sources of income may be requested from the Borrower.

Loan Service Fee

None

Additional Conditions

Early repayment may be made at any time, either in full or in part.