Online microloan

No.

Indicators

Basic Terms

1

Microloan purpose

Non-earmarked microloan

2

1) Basic Terms and Conditions of Microloan “Universal”

2 to 60 months

25% per annum

3

2) Basic Terms and Conditions of Microloan “Qulay”

2 to 60 months

24% per annum

4

Grace Period

Not available

5

Microloan Amount

Minimum – UZS 1 (one) million;

Maximum – UZS 100 (one hundred) million

6

Microloan Disbursement

By transferring funds to bank cards opened in the borrower's name.

This microloan is provided online through the bank's Zoomrad mobile application or via a web service at bank offices.

7

Microloan Repayment

Differentiated payment

8

Microloan Security

Third-party guarantee (must be a person with a stable source of income) or A Non-Payment Insurance Policy (the customer pays the insurance premium via a bank card or at the expense of the microloan funds)

When issuing an online microloan, collateral is provided in the form of a third-party guarantee or an insurance policy against the risk of loan non-repayment.

When providing an insurance policy as collateral, the insurance premium may be paid either from the bank loan account or by the client directly.

When the microloan is repaid early, the unused portion of the insurance premium for the unused period of the insurance contract is refunded as follows:

• When the client repays the microloan early, they may receive back 80% of the insurance premium on a pro-rata basis for the unused period of the insurance contract.
• The return of the unused portion of the insurance premium is carried out offline.
• The client visits the bank and submits an application for full early repayment of the microloan.
• Bank employees verify the full repayment of the microloan and issue a certificate to the client confirming its full early repayment.
• Based on the certificate provided by the bank, the client applies to the insurance company’s office for the return of the unused portion of the insurance premium.
• The insurance company transfers the unused portion of the insurance premium to the bank card specified in the client’s application within a maximum of 15 business days.

When requesting the return of the unused portion of the insurance premium, the client must submit the following documents to the insurance company:

• A certificate from the bank confirming the full repayment of the microloan;
• The client’s application for the return of the insurance premium (the application form is provided by the insurance company);
• Any other documents that may be required in accordance with the insurance company’s internal regulations.

Currently, insurance policies for obtaining an online microloan through the Zoomrad mobile application are provided by Trust Insurance and Ishonch insurance companies.

9

Who is Eligible for Microloan?

Citizens of the Republic of Uzbekistan who have a permanent source of income in the form of wages.