1. For teachers and doctors

 

Project target

Within the framework of this project, employees of private and state education and medical establishments situated in Baku can get a loan from the Bank. Furthermore, we will be happy to consider applications on cooperation with state enterprises representing various other sectors. Such applications will be considered by the Bank on a case-by-case basis.

 

Procedure for getting the loan

Persons working at any position in the above mentioned fields of activities should, for the purpose of getting the loan, first make sure that his place of employment has got special partner arrangements with the Bank. Where the enterprise is not a partner of the Bank, the Bank will not be reviewing any application filed in an individual order.

 

How to become our partner

• 1 or more persons from the enterprise orally inquiry about the services of the Bank;
• upon such inquiries, the relevant specialist of the Bank will perform an initial analysis;
• form of the partnership agreement is submitted to the representative of that enterprise;
• relevant specialist of the Bank visits the enterprise, and meets the management and employees willing to get a loan;
• partnership agreement and the list of employees wishing to obtain financing is approved by the enterprise and submitted to the Bank;
• the matter of partnership with the enterprise is discussed at the internal meeting in the Bank;
• where the partnership is approved, employees of the enterprise can, in an individual order, apply to the Bank with the relevant documents package and get a loan;

Provided that the applicant submits all the required documents and that all the documents are in due order, loan will be formalized within 20-30 minutes from the time of the application.

 

Conditions of the project:




Conditions of the loan
Amount	Min:  150 AZN Max: 5.000 AZN
Term	12 months
Interest rate	26-28 % per annum
Type of credit card	Dynamic Plus
Annual service fee	for 1 year - 20 AZN for 2 years - 30 AZN
Interest calculation rules	Interest is calculated upon daily closing balance of the card account.*
Method of payment	Principal - for 1 year 8% our of the credit limit, and for 2 year 5% our of the credit limit of the used amount shall be paid. Monthly interest – within the first 10 days of each month Principal amount – at any time within the term
Requirements for the applicant
Documents to be submitted by the borrower	Identification card Letter from place of work Letter of reference issued by the management of the enterprise Note: form of letter of reference will be provided by the Bank
Term of employment	min. 3 months
Place of registration	Baku city, Khirdalan city, Absheron region, territories of administrative areas represented by branches of Bank


* Sample: a person, with limit on his card account of USD 400, has, at any given day, an outstanding debt of USD 100 – in such case, interest will be calculated not upon the entire credit line amount, but on USD 100 only.

 

Note: obligations of the management of the company with respect to the project:

• to recommend employees applying for the loan from the Bank based upon their personal characteristics;
• where any employee with the outstanding loan changes his place of work, to immediately notify the Bank of such event;
• to ensure that information on employees as submitted to the Bank is accurate and correct (salary, employment term and position).



2. For employees or medium and large companies

 

 

Project target

Employees of medium and large companies operating in Baku and Absheron Region and being in the list of provisional partners of the Bank can apply for a loan from the Bank (you can review the list of our provisional partner companies here).

 

Procedure for getting a loan

Any person working at the above mentioned company or enterprise can, irrespective of his position, apply for a loan from the Bank. Where a company is not in the list of provisional partners of the Bank, the application will not in any circumstance be considered by the Bank. Where a company is the Bank’s provisional partner, i.e. the name of the company is in the list of provisional partners of the Bank, employees of that company can, in an individual order, apply to the Bank with full package of required documents and may get a loan!

The procedure for formalization of the loan in the Bank will take maximum 20-30 minutes

 

Stages of acceptance into partnership

In connection with this project, inclusion of any company or enterprise into the list of provisional partners of the Bank will be performed upon analysis carried out by the Bank.

 

Conditions of the project:




Conditions of the loan
Amount	Min:   150 AZN Max: up to 5 times of monthly salary
Term	12 months or 24 months
Interest rate	26-28 %
Type of credit card	When the amount of credit limit is between 1000 AZN/USD/EUR and 5000 AZN/USD/EUR (both inclusive), the customer may get a MC Standard card, and where that amount is over 5000 AZN/USD/EUR, a customer may get a MC Gold card When the amount of credit limit to 1000 AZN the customer may get a card Dynamic Plus
Annual service fee	According to the bank`s current tariffs
Interest calculation rules	Interest is calculated upon daily closing balance of the card account.*
Method of payment	depending on amount of credit limit
Requirements for the applicant
Documents to be submitted by the borrower	Identification card Letter from place of work
Term of employment	min. 3 months
Place of registration	Baku city, Khirdalan city, Absheron region, territories of administrative areas represented by branches of Bank


List of partners
* Sample: a person, with limit on his card account of USD 400, has, at any given day, an outstanding debt of USD 100 – in such case, interest will be calculated not upon the entire credit line amount, but on USD 100 only.

 

Note: obligations of the management of the company with respect to the project:

• where any employee with the outstanding loan changes his place of work, to immediately notify the Bank of such event;
• to ensure that information on employees as submitted to the Bank is accurate and correct (salary, employment term and position).

Additional information