Retail Lending General Terms and Conditions

Retail lending and or the procedure for accepting a surety/debtor of individuals

Applications for retail lending can be accepted from the following individuals, as well as co-borrowers and guarantors must follow the rules below:

1. Individuals who have stable wages and other remunerations:

  • employees of State Institutions;
  • private sector employees;

2. The period of activity of an enterprise or company where an Applicant works must be at least one year, and also have stable incentive payments for the last six months;

3. Individual entrepreneurs operating for the last 6 months;

4. Company founders and members operating for the last 6 months;

5. Customers holding deposits with the Bank and receiving rental income.

  • Customers holding deposits with this bank for a period of at least six months;
  • Incomes of the customers received from lease must be made through the Bank;

6. Loans to foreign citizens working in the Republic of Uzbekistan can be issued subject to citizenship of the Republic of Uzbekistan and subject to the provision of one surety from a citizen of the Republic of Uzbekistan; 

7. The above conditions do not apply for loans issued against secured funds; 

Retail lending and/or procedure for accepting a surety/debtor of individuals is not performed for:

  • Citizens of the Republic of Uzbekistan not residing in Uzbekistan;
  • Persons in arrears with the bank or other banks, including spouses;
  • Persons under the age of 18 and/or persons under the age of majority according to the legislation (also loans are not provided to these persons through guardians);
  • Persons with a negative credit history or having their accounts seizured; 
  • Enterprises, founders, members, as well as employees of such enterprises in respect of which lawsuits have been instituted; 
  • Persons with bad loans (a new loan shall not be issued to these people, and the existing loan shall be repaid early); 
  • Persons who have repaid a bad loan with the bank and/or other banks which repayment period is less than 6 months; 
  • Persons whose age at the end of the loan period exceeds 60 years; 
  • Persons over 60 years old when applying for a microloan (overdraft); 
  • Members of the Supervisory Board, Audit Commission, and bank employees, with the exception of the loans granted on the basis provided for by applicable laws; 
  • Persons involved in the purchase/sale and rental of motor vehicles when issuing a car loan; 
  • Persons applying for a loan by attorney; 
  • If providing a loan for the purchase of real estate, persons involved in the purchase and sale of real estate, construction with the subsequent sale of property, as well as persons at risk with the above persons. 

A loan may be issued upon justification of the acquisition of such real estate for personal needs to these persons with the approval of the Bank.