Credit "Universal"

Purpose

Any purpose connected with business, including repayment of credits in other Banks.

Credit currency

USD

Credit amount

50,001 - 300,000

Credit period and interest rates

Credit period

Interest rate

Up to 6 month

10%

7 - 12 month

11%

13 - 24 month

12%

25 - 36 month

13%

37 - 48 month

14%

Interest is computed for reducible balance of credit.During the validity of the credit contract the Bank does not change the nominal interest rate if the borrower does not break terms of the contract.

Collateral form

Real estate

Warning: in case of delay in repayment of credit and interest, collateral can be confiscated in accordance with the procedure stipulated by the law.If the borrower does not pay the interest and loan principal amounts in time, information about credit history will be submitted to the credit register.In case of non-fulfilment of credit liabilities and repayment of debt via collateral, inadequacy of collateral to cover credit liabilities, repayment of credit via customer's other property is possible.

Crediting form

Credit – provision of financial means to the borrower’s banking account for a fixed period, via single or gradual remittance.

Crediting form

Credit – provision of financial means  to the  borrower’s banking account for a fixed period, via single remittance.

Additional guarantee

Business founders guarantee

Requirements to borrower

1.Legal person,
2.Private entrepreneur,
3.Actual activity period –12 months,
4.Absence of negative current credit history.

* Business actual activity period is a period within which the client or actual founders of the latters realized their business activity.

Ratio of credit amount /collateral market value

70%

Repayment order

1. On monthly basis, the main debt in equal installments.

2. Interest repayment is made on monthly basis.

Preterm credit repayment is allowed without any limits.

If the credit is granted in a foreign currency, exchange fluctuations may exert influence on credit repayment. 

Required documents

According to the current order

Commission

Single commission payment  0.5%

Collateral valuation

The collateral must be evaluated by independent licensed company.

Collateral insurance

Resolution about insurance expediency is made at the Credit committee.

Penalties

1. In case of delaying the overdue payment of the principal sum or interest, the interest rate is increased by 1%.

2. For non-fullfillment of the obligations for monthly credit turnover, the interest rate is increased by 1%.

3. For non-submission of the documents proving the target use of the credit the interest rate in increased by 1.5%.

4. For non-informing the Bank about concluding credit contracts, loan agreements, loan coverage with third parties, the interest rate is increased by 0.5%.

5. For non-submitting annual balance-sheet (priot to 1 May form 1, 2)  interest rate is increased by 0.5%.

6. For non-informing the Bank about any change in contact details (name, founders’ staff, information about the manager and chief accountant, address, residence, actual and postal address, telephone numbers, available and newly opened banking account), the interest rate is increased at 0.5%.

7. Starting from the moment the credit is granted, within 7 calendar days, the customer must insure the collateral as agreed in the credit contract, in accordance with the market cost evaluated by the independent licensed company In case of not insuring the collateral as preliminarily agreed, the interest rate in increased at 3%.

8. The Bank is entitled after each calendar year having studied the customer’s business and the current market situation to introduce additional commision for the current year, but not more than 2% of the remainder of the credit liabilities.      

Fines

In case of delaying the overdue payment of the principal sum and/or interest, the penalty is charged at 0.2% per each delayed day. 

   The Bank makes decision about a credit application within 15 working days, after    the customer produces all necessary documents to the Bank.

  The Bank informs the client about its decision on the credit application within one   working day.

  The credit is granted to the customer within 5 working days.