Hire Purchase

Purchasing Rice Mill and Equipment, Oil Mill and Equipment, Paddy Dryer and Equipment from authorized dealers under the MD (PCL) Hire Purchase scheme. Inquiry at our nearest branch and Call Center, we will guide you through application process.

Features and Benefits

Up to 60% of the value of goods to be purchased.
Can apply for up to (2) years Loan Tenures.
Can purchase of Rice Mill & Equipment, Oil Mill & Equipment, Paddy Dryer & Equipment.
Can chose repayment method by monthly (EMI) or quarterly (EQI).
Our specialist team will guide you to apply application easily.

Eligible Borrower

Myanmar Nationals aged between 21 to 60 with monthly solid income can apply

Conditions

Down Payment	Minimum 40% of the value of goods
Loan Amount	Maximum 60% of the value of goods
Loan Repayment Method	Equal Monthly Installment (EMI) / Equal Quarterly Installment (EQI)
Loan Repayment Period	Up to 2 Years

Fees and Charges

Interest Rate	13% p.a. (Amortization schedule)
Service Charges	1% on loan amount
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)

Collateral

Sale Invoice
Purchase Agreement Contract (Copy – if applicable)

For Business/Self Employed

Updated DICA Registration (or) License of Business (Copy)
Other related License (Copy – if applicable)
Updated Company Extract & Profile (Copy – if applicable)
BOD Meeting Minutes (Company Letter Head original – if applicable)
Financial Statements – 2 years (Original)
Income and Commercial Tax – 2 years (Copy)
Sales Transaction and Remaining Stock lists (Original)
Bank Statement – 6 months (Copy – if applicable)
Business Photo
Photo of the machinery to be purchased

For Guarantor

Personal Guarantee of any immediate family members with relevant income.
Dealership Guarantee of Bank authorized dealer.