Bank of Baku

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Loan for employees of the Ministry of Internal Affairs

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  • «Bank of Baku» starts to lend the employees of the Ministry if Internal Affairs up to AZN 3500, on the project of real partners with %32 annual rest,
  • also the employees of the organizations at MIA with %36 annual rest.



Loan conditions:

to emploees of MIAto employees of other organizations of the MIA
Applicant The employees working in the Ministry of Internal Affairs The employees working in structure of the Ministry of Internal Affairs
Amount 300-3500 AZN
Depending on the customer's credit history loan amount can be increased up to 5,000 AZN.		 300-3500 AZN
Depending on the customer's credit history loan amount can be increased up to 5,000 AZN.
Interest rate 32% per annum 36% per annum
Term 3-24 months 3-24 months
Place of registration of the applicant All regions of Azerbaijan Republic
Working experience
  • Minimum 3 months for inhabitants of the regions presented by branches of bank
  • Minimum 24 months for inhabitants of the regions which have been not presented by branches of bank
Age of the applicant 20 – 65 years
Method of payment in monthly installments (in equal monthly amounts)
Required documents 1. identification card
2 . reference
Guarantee If the loan amount exceeds 2000 AZN the third party guarantee is required
Requirements to the guarantor 1. identification card
2 . reference
Service fee
  • if duration of the loan is 1 year - 5% from line of credit
  • if duration of the loan is 2 year - 7% from line of credit

 

Example of repayment of the credit:

Credit ammount: 1 000 AZN
Annual interest rate: 32,00%
Term of repayment of the loan: 12 months
Number of payments in a year: 12
Credit date started: 10.06.2011


The schedule of payment of credits:

Maturity dateThe rest from the basic ammount (AZN)Planned payment (AZN)The basic ammount (AZN)Percents (AZN)
10.07.2011 1 000,00 98,47 71,81 26,67
10.08.2011 928,19 98,47 73,72 24,75
10.09.2011 854,47 98,47 75,69 22,79
10.10.2011 778,78 98,47 77,71 20,77
10.11.2011 701,08 98,47 79,78 18,70
10.12.2012 621,30 98,47 81,91 16,57
10.01.2012 539,39 98,47 84,09 14,38
10.02.2012 455,30 98,47 86,33 12,14
10.03.2012 368,97 98,47 88,63 9,84
10.04.2012 280,34 98,47 91,00 7,48
10.05.2012 189,34 98,47 93,42 5,05
10.06.2012 95,92 98,47 93,36 2,56


Fine for delay in payment of credit from 11 for 90 day of non-payment is charged daily at a rate of 1 % (a minimum 0.50 AZN) from credit sum.

Last Updated on Thursday, 05 January 2012 14:44