Express Credit

Purpose

Express Credit is designed to provide the Banks customers with quick access to loans. This product allows a wide range of flexibility and could be used for business, agriculture or consumption purposes.

Quick Facts

  Minimum loan size

TJS 100

  Maximum loan size

TJS 100,000 / USD 20,000

  Minimum loan term

1 month

  Maximum loan term

36 months

  Guarantor

Guarantor is not required

  Collateral

Customers must pledge a highly liquid asset like gold, jewelry or cash collateral in the form of a bank deposit account the value of which should not be less than 130% of the loan value

  Grace period

  (only principal amount)

Up to 6 months

  Currency

The product is offered in both TJS and USD

  Interest rates in TJS

 28% -35%      Interest rates are stated annually                   

  Interest rate in USD

18% -25%       Interest rates are stated annually

  Early closure

Allowed with the condition to formally report but no penalties

How to Apply

Interested clients should consult with the nearest branch or banking service centre.

Clients should bring with them the following documents:

 Copy of a valid passport;

 Tax Identification Number (TIN);

 Two recent passport size color photos;

 Loan utilization/investment plan;

 Patent or business license (if appropriate);

 List of gold items pledged as collateral; 

 Certification of gold quality inspection.

Benefits

 Quick Access to funds, within 1 day of application (if all necessary documentation is provided on time) 

 Attractive interest rates with the potential for further discount if the customer opens an FMFB deposit account and services their loan through it

 Generous grace period to provide sufficient time for procurement of working capital or purchase and installation of fixed assets

 Transparent and collaborative loan application process that is rooted in integrity and customer protection principles