Types of Loans
- Agricultural / Livestock breeding loans
- Hire Purchase
- Medium-term / Long-term loans and
- Project loans
Sectors which are entitled to loans
- Loans to support the Regional development
Loans will be provided to Small and Medium Enterprises, financial service providers and hotels and tourism industries which can contribute towards the economic and agricultural development of respective regions.
- Loans to support the agricultural sector development
Loans will be provided for business in seasonal cultivation, seeds production, rice mills, livestock breeding, other agricultural activities, regional products manufacturing, model farm establishment and businesses that will implement the establishing of model farming.
- Loans to support the industrial sector development
Loans will be provided for businesses in construction of infrastructure, electric power projects, construction of deep sea port, Pathein port, industrial zone, rice mills for manufacturing of agricultural produce, go downs to store regional products as well as to renovation and upgrading activities that will contribute to the development of export supporting processes.
- Loans for consumer goods
Loans will be provided to manufacture consumer goods and value added goods for the development of agricultural sector and to buy farming equipment on installment basis.
Bank guarantee and others
Bank guarantee certificates will be issued to ensure that the liabilities of a debtor will be met.
The collaterals accepted by the bank as guarantee
- Immovable property (Documents verifying possession of property to be submitted as collateral)
- Balance from deposit account (Lien)
- Movable property (commodities and machinery to be submitted as collateral)
- Gold and Jewellery
- The sales vouchers, agreements, documents proving possession, materials and things bought under the hire purchase system
- Assignment of debt
- Land Ownership Certificate Form 7 (Peasants, specialized companies and model farming land)
- Project guarantee
- Personal guarantee and other forms of guarantee accepted by the bank.
Interest for loans
Annual interest rate is 13 per cent. The interest shall be paid in quarterly at the end of each quarter in end of June, September, December and March.