Credit product

"Family"

"Agro"

" Micro Business "

Interest rate

49.9% yearly

Additional interest for using credit

2% of the loan amount

1% of the loan amount

Currency

manat

Term

from 3 to 24 months

from 3 to 18 months

from 3 to 24 months

Amount

From 200 to 3000 manat

Security

Ø         If the amount is from 200 to 1,000 manat (inclusive), they are issued without a guarantee and without the consent of a family member;

Ø         If the amount is from 1,001 to 2,000 manats , they are issued without a guarantee, but the written consent of one family member to receive a loan is required (at the request of the loan officer a guarantor may be involved);

Ø         When the amount is from 2,001 to 3,000 manat , 1 (one) guarantor or bail is issued on bail.

Loan purpose

Loans are issued for consumer purposes.

Loans are issued for the following business purposes:

                                    1.        Buying livestock;

                                    2.        Buying feed for livestock;

                                    3.        Land preparation for sowing;

                                    4.        Harvesting;

                                    5.        Purchase of fertilizers;

                                    6.        Other goals.

Loans are issued for the following business objectives:

                               1.        Increase working capital;

                               2.        Purchase of fixed assets;

                               3.        Repair and construction of fixed assets;

                               4.        Expansion of existing business activities;

                               5.        Business creation

Actual Annual Interest Rate (FİFD)

 

From 50,75 %

 

 

From 51,1%

 

From 49,53%

Requirements

  • Citizenship of the Republic of Azerbaijan
  • Age from 21 to 70 years (inclusive)
  • Identification (*)
  • Other documents

* When analyzing customer data, the Company may require additional documents, and appropriate changes may be made to the loan conditions.   For more information and the calculation of the full cost of the loan, the necessary documents for obtaining a loan , please contact our branches .

According to the “Procedure for determining the mechanism of repayment of the principal amount of individuals’s loans in foreign currency increased as a result of devaluation in manats and the applied benefits on interest and penalties charged on this amount (fines, penalties)” payment of compensation to individuals who are clients of non-bank credit organizations, as well as non-bank credit organizations, which are in the process of liquidation, are carried out by the national postal operator

On the part of the national postal operator, a search engine was created to inform citizens about the address where they will receive their money. Link to this search engine is available on our home page. 
http://azerpost.az/ 

According to the “Procedure for determining the mechanism of repayment of the principal amount of individuals’ loans in foreign currency increased as a result of devaluation in manats and applied benefits on interest and penalties accrued on this amount (fines, penalties)” by the Chamber of Financial Market Supervision (Chamber) An Appeals Commission was established to review appeals and to resolve any disputes. In addition, an appropriate portal was created to ensure citizen satisfaction and consumer protection, as well as to investigate cases on an individual basis with a view to sending them to the Appeal Commission. A link to this portal was posted on our home page.
https://ak.fimsa.az 

If you have any questions regarding the execution of the Decree of the President of the Republic of Azerbaijan dated February 28, 2019 under the number 551 “On additional measures related to solving problem loans of individuals in the Republic of Azerbaijan” you can contact the hotline number (+994) 12 310 38 18 and e-mail: president-fermani@molbulak.com