Overdraft Facility
If you are looking short-term working capital to optimize your business cash flows, we can help your financial needs.
Overdraft Facility
If you are looking short-term working capital to optimize your business cash flows, we can help your financial needs.
Overdraft Facility
If you are looking short-term working capital to optimize your business cash flows, we can help your financial needs.
Features and Benefits
- Loan Specialist will guide you to apply application easily at our nearest branch.
- Able to make repayment and withdraw the overdraft facility at any time.
Eligible Borrower
Myanmar Nationals aged between 21 to 60 with monthly solid income, who needs working capital to expand the business.
Conditions
| Loan Amount | Depends on the applicant’s business situation and the value of the collateral |
| Loan Tenure | 1 year
*Can apply renewal loan after 14 days of paying off the previous loan. |
| Loan Repayment Method | Monthly Interest Repayment
Principle will be paid once the contract expires |
Fees and Charges
| Interest Rate | 13% p.a. |
| Service Charges | 1% on the Loan Amount |
| Commitment Fee | 1% ( Charged by the bank for the unused amount less than 80% used of OD Limit.) |
| Insurance Premium | As charged by insurance company |
Requirements
Applicant(s) and Guarantor
- NRC (Copy)
- Census (Copy)
- Ward Recommendation (Original)
- Recent Passport Photo (2 photo)
- Other Bank Loan Statements and schedule (Copy – if applicable)
For Business/Self Employed
- Updated DICA Registration (or) License of Business (Copy)
- Other related License (Copy – if applicable)
- Updated Company Extract and Profile (Copy – if company business)
- BOD Meeting Minutes (Letter Head original – if company business)
- Company Profile (Original – if applicable)
- Financial Statements – 3 years (Original)
- Income and Commercial Tax – 3 years (Copy)
- Sales, Purchase and Remaining Stock lists – 6 months (Original)
- Bank Statement – 6 months (Copy – if applicable)
- Business Proposal (Original)
- Business Photo
- Other related documents (Copy – if applicable)
For Guarantor
- Personal Guarantee of Father / Mother (or) any family members with relevant income proof.
- Corporate Guarantee of Company / Firm if the facility is in the name of shareholders.
Collateral
- Deep of Landownership (Original)
- Land Map & History – Form 105/106 (Original – with comment to get a bank loan)
- Related Contracts (Copy)