What is useful information to know for borrower?

Getting a credit is a crucial step that requires certain knowledge and a serious attitude. Often, customers sign credit agreements without getting the details, get paid, and only when the repayment date is right does a lot of questions arise. A person becomes a hostage to his own inattention. To relieve You of misunderstandings when communicating with our credit company, we present to your attention the answers to frequently asked questions of our clients:

HOW DO I GET A CREDIT? Тор

You can consult on a credit in any of our 23 offices or by calling at 0 (312) 341-921, 0 (312) 900-312.

IN WHICH LANGUAGES I CAN GET INFORMATION? Тор

Our company maintains documentation in Kyrgyz and Russian. For your convenience, ask for a credit agreement in a language you understand. Re-read the credit agreement. Do not hesitate to ask questions to the credit officer so that he clarifies for You incomprehensible terms and questions. Subsequently, also contact him with any questions you may have regarding your credit.

WHAT WILL HAPPEN IF I HAVE OVERDUE A CREDIT PAYMENT? Тор

In case of violation of the obligations to repay the monthly debt on the credit, the Borrower should pay penalties in the amount specified in the Credit Agreement. It happens that there are some objective circumstances and good reasons because of which you cannot repay the credit on time. In this case, you definitely need to contact your credit specialist in advance. At this stage, the company will meet and consider your problem.

I ALREADY HAVE A CREDIT, BUT I WOULD LIKE TO RECEIVE MORE. IS IT POSSIBLE? Тор

Yes, it is possible if your income allows you. But, the credit should not be a burden to the family budget. Therefore, before you put your signature on the contract, calculate all your monthly expenses. Train yourself to keep family financial records. At first, this may seem extremely tedious and boring, however, after you see the first results of your actions, you will understand where the money goes, how much you can afford to spend, how much - to invest in your business. Be prepared that every month you will pay the credit company at least 40% of the income.

In order to learn how to calculate your strength, we advise You to issue your first credit for a small amount and for a short period. Thus, you can understand your ability to pay and already plan for the future large credits for longer periods.

WHAT IS A CREDIT HISTORY AND HOW CAN IT INFLUENCE ME? Тор

A credit history is the history of repayment of all your credits, which is stored in the single Credit Information Bureau “Ishenim” - a common database that collects credit histories of all borrowers in the country. This is your first indicator when working with all financial institutions. The continuation of your relationship with our company and other credit institutions will depend on how positive your credit history will be. If all your credits were repaid on time and without delays, you will not risk creating a negative credit history about yourself in the Credit Information Bureau and will not adversely affect your life in the future.

A RELATIVE REQUESTS ME TO BECOME A GUARANTOR TO HIM. WHAT CONSEQUENCES FOR ME CAN BE? Тор

In accordance with Article 344 of the Civil Code of the Kyrgyz Republic, the Guarantor (Guarantor) is liable to the credit in the same amount, as a debtor, including paying interest, reimbursement of legal costs due to debts and other losses of the creditor caused by non-performance or improper performance of debtor’s obligations. «If you are not sure of your relative or friend's solvency and decency, do not agree to be his guarantor. If he does not fulfill his credit obligations, the law will be borne directly by the GUARANTOR, in this case, You, and you will have to pay his credit out of your own funds!

WHAT DOES A GROUP CREDIT DIFFER FROM AN INDIVIDUAL? Тор

A group credit unites several borrowers in order to obtain a credit. In this case, they act as guarantors for each other, and there is no need to look for a guarantor on the side. Do not join a group whose members do not know you. You must be confident in all the members of the group, namely that one or another participant who will observe group solidarity, be responsible for your common business, make repayments according to the schedule in accordance with the Credit Agreement. Do not join the group at the request of anyone. In some cases, fraudsters are asked to supplement the group, because they have a lack of customers. Subsequently, they will fraudulently attempt to seize your money, and You will have to repay the credit.

WHAT IS AN ANNUAL EFFECTIVE REMUNERATION RATE (AERR)? Тор

The annual effective interest rate is the total amount of all payments paid for the creditor under the credit agreement. This rate of remuneration includes the preparation, in addition to the amount of monthly payments, fees for issuing cards, insurance payments or service charges, issuing certificates and so on. The nominal interest rate, which is expressed in your credit agreement, is an expression of the value of the credit and participation in the calculation of the monthly payment on the credit. These two types of rates will differ.

WHO CAN GET A CREDIT? Тор

Any capable citizen of the Kyrgyz Republic at the age from 18 to 70 years who has a stable source of income can receive a credit.

WHICH DOCUMENTS ARE REQUIRED TO RECEIVE A CREDIT? Тор

The required documents vary depending on the credit product, but for accepting a credit application, the following documents will suffice:

  • Identity document of a citizen of the Kyrgyz Republic - the original passport (ID and e-ID card);
  • A certificate from the place of residence indicating the composition of the family (if you have an e-ID card, then the certificate is NOT needed);
  • Actual photo - 1 piece.

For more information about the required documents, please consult our credit specialists.

WHAT AMOUNTS IS THE COMPANY PROVIDING? Тор

Credit amounts vary depending on your demand and solvency, and can be in the range from 5 000 soms  to 1 000 000 soms.

WHAT TERMS OF CREDITS? Тор

The terms also vary depending on the type of credits and can be in the range from 1 to 36 months.

WHAT IS A CREDIT PAYMENT SCHEDULE? Тор

Payment schedule - annuity, in which the amount of the monthly credit repayment, consisting of the principal amount and interest on it, is distributed for each month in equal and constant shares for the entire credit period. The schedule is drawn up by your credit officer before entering into a credit agreement.