Below you will find information on main advantages offered by “Micro-Credits” project prepared and implemented upon the above criteria:

Attractive

• Attractive interest rate
• Wide discretion with respect to collateral
• Option to repay earlier without penalty
• Attractive repayment schedules
• Option for grace period, where you have to pay interest only
• Additional benefits for persons with positive credit history

Convenient

• Formalization of the loan within short period of time
• Individual approach toward needs and problems of the customer

Transparent

• No hidden fees or charges
• Accurate and professional analysis.

Our customers can benefit from financing within «Micro-Credits» program within the framework of the below described projects:

• General terms and conditions of the «Micro-Credits» program
  
  
  

  Amount	min.     300 USD max. 10 000 USD
  Term	Up to 12 months
  Repayment	In monthly installments (please refer to: Sample: Repayment Schedule)
  Interest rate	30 % per annum (2,5 % per month) *
  Grace period	Up to 3 months

   

  * The stated rate of interest is sliding. Namely, interest paid goes down along with the principal amount repaid, and this the effective rate of interest is also going down. For your information please note that the effective rate of interest on «Micro-Credits» program is 16,7 % per annum (1,4% per annum) (please refer to: Sample: Repayment Schedule).

   

  
  
• Fixed assets projects
  
  
  Within the framework of its «Micro-Credits» program, «Bank of Baku» is implementing special projects for the financing of purchase of fixed assets. By fixed assets here we mean equipment, machines, installation, etc. which are used for medium or long term in production, commerce or provision of services (for example: refrigerators in groceries, computers for internet clubs, washing equipment for car wash points, chairs and equipment for dentist rooms, etc.)
  
  

  Please review terms and conditions applicable to the project:

  
  

  Amount	min.     300 USD max. 10 000 USD
  Term	Up to 18 months
  Repayment	In monthly installments (please refer to: Sample: Repayment Schedule)
  Interest rate For applicants through partner companies - For individual applicants -	26 % per annum 28 % per annum
  Grace period	Up to 3 months

  
  
  
• Pilot loans project.
  


If an entrepreneur, who is not maintaining proper account of his expenses and income and other financial reporting, decides to apply to any institution for financing, he will be facing a number of problems. The primary reason here is the difficulty in determining the solvency of the applicant and, respectively, the amount which he can borrow. If there is no such analysis, in majority of instances, the application for the loan will be rejected.
Terms and conditions determined by the Bank especially for this category of entrepreneurs:


Amount	min.     300 USD max. 2 000 USD
Term	Up to 6 months
Repayment	In monthly installments (please refer to: Sample: Repayment Schedule)
Interest rate	36 % per annum (3 % per month)



• Special offer for clients with positive credit history

 

Our Bank, which is always diligent and considerate towards its clients and customers for any of its projects, is always keen to reward and appreciate those clients and customers who duly perform their obligations to the Bank. «Micro-Credits» program is not an exception (similar rules apply for our “Consumer Loans” program). In accordance with our internal regulations, clients with positive credit history will get a subsequent loan at the rate 2% lower, i.e. under 28% per annum.

Furthermore, we offer certain benefits with respect to the collateral to be provided by such clients for their subsequent loans!