There
are 9 types of loan products….

1. Overdraft Loan
2. Term Loan
3. Hire-Purchase
4. Corporate Staff Loan
5. Hypothecation
6. Pledge
7. Lien
8. Project Loan
9. Home Loan

10%
p.a with collateral (secured), 14.5% p.a without collateral (unsecured)

The
requirements are as follows.

(A) Documents for borrower

• NRC Copy
• Copy of Household Registration
• Recommendation letter from Ward Administration Office

(B) Financial Statements

• Profit & Loss Statements and Balance Sheets for the last 3 years
• Cashflow Statement
• Receipt of income tax for the last 3 years
• Investment plan and loans repayment plan

(C) Documents related to business

• Copy of License
• Copy of Certificate of Incorporation
• Meeting minutes with letterhead
• Company Extract showing shareholder list

(D) Collateral

• Ownership documents of immovable property such as Land & Building
• Form 105/106 and other related contract documents

There
is no limitation on maximum loan amount. Term is granted up to 3 years.

Yes,
if the other person is related with business / collateral.

Any
legitimate businesses recognized by government are entitled for loans.

Force
Sale Value (FSV) of collateral is 80% of market price.

Interest
payment must be made monthly installment for Hire Purchase and every 3 months for business loans.

Service
charge – 1% for Overdraft & 1% for Hire Purchase. No documentation fee but there is stamp duty for the loans contract.

Yes,
there is late payment charge. It is 36% per annum. Late payment charge = (amount due x 36%) x (number of late days / 365)

No.
The maturity date is already defined when the bank approved loan according to the term.

Yes,
you can.

Yes,
you need guarantor. There is no limitation on number of guarantors.

Guarantor
must be account holder at the bank and KYC documents are needed.

Yes,
company registration certificate and profile are needed.

No

You
can contact to the branch which you applied or Head office’s loan department.

Please
call to 09 967 890 033.

NRC
original (or) Driving license original (or) Employee card.

(a)
Individual account

(b) Joint account

(c) Company account

(d) Association account

Initial
deposit is 10,000Ks and minimum balance is 1,000Ks.

There
is no withdraw limitation.

You
can declare at the bank, showing NRC original and apply new cheque book.

Fill
the cheque book request form and get the cheque book.

Currently
there is no account reconciliation fee.

NRC
original (or) Driving license original (or) Employee card

(a)
Individual account

(b) Joint account

(c) Company account

(d) Association account

(e) Minor account (parents or authorized guardian must sign)

Initial
deposit is 5,000,000Ks and minimum balance is 1,000Ks

7%
for account balance 5,000,000Ks and more, 6.5% for less than 5,000,000Ks.

You
can bring NRC original, recommendation letter from Ward Administration Office, recommendation letter from township police station along with you and apply new passbook at the bank.

Account
holder can withdraw at any branch. There is no service charge for withdrawal within same region. Service charge for withdrawal at different region is 0.02% and 0.1% for withdrawal at special region.

Family
members such as spouse, son or daughter, and brother or sister included in the household registration form can withdraw the money by showing the dead certificate.

NRC
original (or) Driving license original (or) Employee card

(a)
Individual account

(b) Joint account

(c) Company account

(d) Association account

(e) Minor account (parents or authorized guardian must sign)

Initial
deposit is 10,000Ks and minimum balance is 1,000Ks

6.5%
per annum.

The
depositor can withdraw interest monthly.

You
can bring NRC original, recommendation letter from Ward Administration Office along with you and apply new passbook at the bank.

The
representative can bring NRC original of the account holder, general power and withdraw at the home branch of the account.

Account
holder can withdraw at any branch. There is no service charge for withdrawal within same region. Service charge for withdrawal at different region is 0.02% and 0.1% for withdrawal at special region.

Savings
deposit account can be linked with current account.

Family
members such as spouse, son or daughter, and brother or sister included in the household registration form can withdraw the money by showing the dead certificate.

NRC
original (or) Driving license original (or) Employee card

(a)
Individual account

(b) Joint account

(c) Company account

(d) Association account

(e) Minor account (parents or authorized guardian must sign)

Initial
deposit is 10,000Ks and minimum balance is 1,000Ks

• 30 days – 6.75%,
• 90 days – 7.25%,
• 180 days – 7.5%,
• 270 days – 7.75%,
• 1 year – 8.15%
• 2 years – 8.5%

The
bank issue certificate.

You
can bring NRC original, recommendation letter from Ward Administration Office, recommendation letter from township police station along with you and apply new certificate at the bank.

No,
the representative cannot withdraw. Certificate is non-transferable.

Account
holder can only withdraw at home branch of the account.

Yes,
but the interest is calculated on the nearest term rate.

There
is no interest calculation for withdraw after expiry date.

Yes,
you can instruct the bank to renew the principal and interest when opening the account.

Family
members such as spouse, son or daughter, and brother or sister included in the household registration form can withdraw the money by showing the dead certificate.

NRC
original (or) Driving license original (or) Employee card

Initial
deposit is 10,000Ks and minimum balance is 1,000Ks

5%
for account balance 10,000,000Ks and more, 2% for less than 10,000,000Ks.

You
can bring NRC original, recommendation letter from Ward Administration Office, recommendation letter from township police station along with you and apply new passbook at the bank.

The
representative can bring NRC original of the account holder, general power and withdraw at the home branch of the account.

Account
holder can withdraw at any branch. There is no service charge for withdrawal within same region. Service charge for withdrawal at different region is 0.02% and 0.1% for withdrawal at special region.

Family
members such as spouse, son or daughter, and brother or sister included in the household registration form can withdraw the money by showing the dead certificate.

G
Bank has mutual relationship with NDB (Naypyitaw Development Bank).

Yes,
there is remittance fee.

• Fax charges 500Ks and remittance fee 200Ks for up to 1,000,000Ks.
• Remittance fee 0.02% for 1,000,000Ks and more.
• Remittance fee 0.05% for transfer with NDB (Naypyitaw Development Bank).
• Remittance fee 0.1% for transfer to special region.

Not
yet.