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Loan

Loan

Online Trading Rate

Currency

Buy

Sell

USD

3507

3517

CNY

497.30

498

THB

106.50

106.80

Date: 13/9/2024

Loan

Feature/Benefit

  • A Customer can borrow for up to 36 months
  • Interest needs to pay in March, June, September and December
  • No Service Charge
  • No Commitment Fee

Eligibility

Applicants must be between 18 years old and 60 years old at the time of application. A joint applicant must be the applicant’s spouse, sibling, or parent.

Fee & charges

No

Particular

Loan
1 Interest 10%
2 Default 13%
3 Processing Fee 10,000 MMK

Manage your A/C

The bank will provide a repayment schedule before disbursement. You will be able to make loan repayment via the following channels: MAB Branch (Nationwide).

SME Loan

Eligible Borrowers

1. Duly registered under “the Myanmar Companies Act”
2. Meeting the definition of SMEs stipulated in SME Development Law

Eligible investment

1. Fixed Assets (i.e Machinery, Equipment, Factory building)
2. Initial working capital associated with a fixed asset investment
3. Excluded by environmental and social consideration

Ineligible sectors

1. Farmers eligible for borrowing from Myanma Agricultural Development Bank
2. Real Estate
3. Finance & Insurance
4. Precious metal dealing
5. Bars & pubs
6. Amusement, entertainment (except for Tourism)
7. Weapons, ammunitions; or
8. Any other sector harmful to the social stability (to be judged by Working Committee)

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Hire Purchase (HP)

Feature/Benefit

  • A Customer can borrow for up to 36 months.
  • A Customer can negotiate the payment term based on their cash flow.

Eligibility

Eligible Borrowers

  • Myanmar citizens who have a reasonable income.
  • An applicant must be between 18 years old and 55 years old at the time of application.
  • A joint applicant must be the applicant’s spouse, sibling, or parent.
  • A guarantor must be a Myanmar citizen who is a spouse, sibling, parent, or colleague.

Eligible products for Hire Purchase

  • Computers and electronics
  • Cell phones
  • Automobiles and motorbikes
  • Heavy machinery
  • Agricultural machinery
  • Medical equipment

Fee & charges

No

Particular

1 year

2 years

3 years
1 Interest 7.5% 12.5% 17.5%
2 Service Charge (one time only) 1%
3 Default Fee 13%
4 Processing Fee  5,000 MMK
5  Late Fee  1,000 MMK

Manage your A/C

Your monthly repayment due date is the disbursement date of the following month. The bank will provide a repayment schedule before disbursement.

You will be able to make loan repayments via the following channels:

MAB Branch (Nationwide)

 

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Auto Finance

Feature/Benefit

  • Customer can be borrowed at least 70% of total cost.
  • Customer can be borrowed up to 60 months.
  • Equal Monthly Installment
  • Convenience & Fast process

Eligibility

Eligible Borrowers

  • Myanmar citizen who has a reasonable regular income.
  • Applicant must be between 24 to 55 years old at the time of application.
  • The joint applicant must be the applicant’s spouse, sibling, or parent.
  • The guarantor must be Myanmar citizen who is a spouse, sibling, parent, or colleague.

Eligible products

  • Automobiles and motorbikes.
  • Heavy machinery.
  • Agricultural machineries.
  • Medical equipment.

Fee & charges

No

Particular

Loan
1 Interest 10%
2 Service Charge (one time only) 1%
3 Default Fee 13%
4 Processing Fee 5,000 MMK
5 Late Fee 1,000 MMK
6 Early Repayment Fees 3% on remaining principal

Manage your A/C

The bank will provide a repayment schedule before disbursement. You will be able make loan repayment via the following channels: MAB Branches (Nationwide), MAB mobile banking, iBanking or agency banking.

FAQS

MAB auto loan is where MAB supports the customers to purchase vehicles without paying the total selling price in one lump.

MAB allows you to purchase from various brand new cars from our authorized dealers.

You must be a Myanmar nationality, between age 18-55 years old. For more information, please contact to Call Center (+95) 18610612 or email to [email protected].

Yes, it is but it depends on the customer’s documents requirement. (Final decision made by MAB will be validate.)

We provide multiple channels for your loan repayment.

  • MAB Branches
  • MAB mobile banking
  • MAB ibanking
  • MAB Agency Banking

Bank will inform the customer within 10 working days whether it is approved or rejected.
However, according to the customer’s completed documents submission, the loan approval date may be deferred.

(Customer Requirements)

  1. A copy of NRC, A copy of household list
  2. Letter of employment or contract (must show employed date, designation, salary and confirmation of employment)
  3. Pay slips/bank statement for 3 months
  4. Tax payment slips for 3 months
  5. Company Documents from DICA
    • Company Profile
    • Filing History
    • Address
    • Officers
    • Shareholdings
    • Company Authority
    • Members
    • Documents
      • Copy of Officers ID’s
      • Company Constitution
      • Certificate of Incorporation
  6. Other Source of Income
  7. Most recent audited financial statements for the company owned or company license
  8.  Bank Statements for 3 Months
  9. Tax payment slips for 3 years
  10. BOD Resolution (All directors need to sign for initial)

In case, there is some issue or default regarding the HP/AF Finance, company will take full responsible for it.

For 2 Guarantors

  • A copy of NRC of guarantor
  • A copy of household list of guarantor

Note: “*’’ Mandatory Documents.

Once the customer has paid full repayment (Principal + Interest) to MAB Bank, the customer will get the ownership book.

Yes, an early repayment fee of 1% is applicable on the repaid principal.

Yes, there are late payment fee and penalty fee and overdue amount will be charged by MAB.

  • Quick and Smooth Process
  • Fixed Monthly Installment Plan
  • Tenor up to 5 Years
  • Minimum Down Payment 30%
Type of Cars Down Payment Tenor Interest Rate
Brand New 30% 5 Years 10%

MAB only allows to apply Auto Finance Loan from our authorized dealers.

The customer should apply auto finance loan via MAB branches or authorized dealers.

The customer can check the status of Auto Finance Loan application by calling the MAB branches where they have submitted their loan application.

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Home Loan

Feature/Benefit

  • Customer can be borrowed at least 70% of the total cost.
  • Customer can be borrowed up to 25 years.
  • Equal Monthly Installment
  • Convenience & Fast process

Eligibility

Eligible Borrowers

  • Myanmar citizens who has a reasonable regular income.
  • Applicant must be between 24 to  55 years old at the time of application.
  • The joint applicant must be the applicant’s spouse, sibling, or parent.
  • A guarantor must be a Myanmar Citizen who is a spouse, sibling, parent, or colleague.

Eligible Properties

  • MAB authorized developers’ apartments, condos & landed properties.

Fee & charges

No

Particular

Loan
1 Interest 10%
2 Service Charge (one time only) 1%
3 Default Fee 13%
4 Processing Fee 50,000 MMK
5 Late Fee 1,000 MMK
6 Early Repayment Fees 3% on the remaining principal

Manage Your A/C

The bank will provide a repayment schedule before disbursement. You will be able to make loan repayment via the following channels: MAB Branches (nationwide), MAB mobile banking, ibanking, or agency banking.

FAQS

MAB home loan is where MAB supports the customers to purchase a residence without paying the total selling price in one lump.

MAB allows the customers to purchase a residence such as Condos/Apartments or landed properties from authorized developers.

You must be of Myanmar nationality, between the age of 24-55 years old. For more information, please contact to MAB Call Center at (+95) 18610612 or email to [email protected].

Yes, any immediate family member with a regular income can be a co-applicant for Home Loan application.

Yes, we need at least two guarantors for Home Loan Application.

We provide multiple channels for your loan repayment.

  • MAB Branches
  • MAB mobile banking
  • MAB ibanking
  • Agency Banking

Bank will inform the customer within 10 working days whether it is approved or rejected.
However, according to the customer’s completed documents submission, the loan approval date may be deferred.

(Requirements of Customer)

  1. A copy of NRC, A copy of household list
  2. Letter of employment or contract (must show employed date, designation, salary and confirmation of employment)
  3. Pay slips/bank statement for 3 months
  4. Tax payment slips for 3 months
  5. Company Documents from DICA
    • Company Profile
    • Filing History
    • Address
    • Officers
    • Shareholdings
    • Company Authority
    • Members
    • Documents
      • Copy of Officers ID’s
      • Company Constitution
      • Certificate of Incorporation
  6. Other Source of Income
  7. Most recent audited financial statements for the company owned or company license
  8.  Bank Statements for 3 Months
  9. Tax payment slips for 3 years
  10. BOD Resolution (All directors need to sign for initial)

In case, there is some issue or default regarding the HP/AF Finance, company will take full responsible for it.

For 2 Guarantors

  • A copy of NRC of guarantor
  • A copy of household list of guarantor

Note: “*’’ Mandatory Documents.

The customer can make a phone call to bank and ask the information that they will need in the application process or
The customer can make a phone call or go to the authorized developers to get detail about the home loan application.

If the customer’s submitted documents are not covered enough for credit assessment, bank may ask customers to provide additional documents.

  • Grant/Leasehold Land
  • Freehold Land
  • YCDC Land
  • DUHD Land

The customer can apply the MAB Home Loan via MAB bank branches or from our authorized developers.

Yes, the customer needs to have fire insurance from an insurance company authorized by MAB bank for Home Loan.

Yes, under the regulations of Internal Revenue Department, stamp duty shall be paid by the customer according to the rules and regulation of Internal Revenue Department and Sales & Purchase Agreement must be officially registered as a part of the loan process.

MAB will provide a monthly repayment schedule once the Home Loan application gets approval. It can be checked via ibanking.

Amortization method is used for MAB Home Loan.

The benefit of using an amortization schedule is that the interest is calculated monthly on the remaining principal amount.

If the customer would like to ask for more details, the customer can go to the branches or call the call center.

Yes, Customer may require paying higher percentage of down payment to the bank to fulfill DSR ration for loan repayment.

The property which are not included in MAB accepted land types or the property ownership documents are not qualified enough to evaluate for loan assessment.

The customer will receive the ownership documents once the repayment
(Principal + Interest) and other outstanding balances have been paid to the MAB.

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Requirements

Loan

Requirements of Individual Customer

  • A copy of NRC
  • A copy of the household list
  • Ward Recommendation (if, single)
    • Business License, Registration
    • Most recent audited financial statements for the company owned or licensed (3 years)
    • Tax (3 years)
    • YCDC Tax
    • Collateral Agreements
      1. Property Ownership History
      2. 105/106
    • Photo of a Business Operation
    • Photo of collateral (all dimensions)
    • the applicant’s name and signature – at the back of all photos

Requirement of Company

  • Company Documents from DICA
    1. Company Profile 
    2. Filing History
    3. Address
    4. Officers
    5. Shareholdings
    6. Company Authority
    7. Members 
    8. Documents
      1. Copy of Officers’ ID’s
      2. Company Constitution
      3. Certificate of Incorporation
  • Export/Import License
  • Export/Import Invoices
  • Meeting Minute
  • Responsible Directors (2 people)
  • Loan Agreement with MAB
  • Current Account at the branch
  • Agreement to provide property as collateral under the director’s
  • Directors’ NRCs
  • Directors’ household lists
  • Ward Recommendation(if, single)
  • Most recent audited financial statements for the company owned or company license (3 years)
  • Tax (3 years)
  • YCDC Tax
  • Collateral Agreements
  • Property Ownership History
  • 105/106
  • Photo of Business Operation
  • Photo of collateral (all dimensions)
  • the applicant’s name and signature – at the back of all photos

Hire Purchase & Auto Finance 

For customer requirements,

    • A copy of the NRC, a copy of the household list
    • * A recommendation letter from the ward/village administration
    • A recommendation letter from the police station

For salaried applicants,

  • * Letter of employment or contract (must show employment date, designation, salary and confirmation of employment)
  • Pay slips/bank statements for 3 months
  • Tax payment slips for 3 months

For Self-employed/Company,

  • * Company Documents from DICA
      1. Company Profile 
      2. Filing History
      3. Address
      4. Officers
      5. Shareholdings
      6. Company Authority
      7. Members 
      8. Documents
        1. Copy of Officers ID’s
        2. Company Constitution
        3. Certificate of Incorporation
    1. Other Sources of Income
    2. * The most recent audited financial statements for the company owned or licensed.
    3. * Bank Statements for 3 months
    4. * Tax payment slips for 3 years
    5. * Board of Directors Resolution (All directors must sign for the initial)
      • All directors agreed to buy the mentioned products with the Hire Purchase/Auto Finance program from Myanma Apex Bank.
      • In case, there is some issue or default regarding the HP/Auto Fiance, the company will take full responsibility for it.

For 2 Guarantors

  • * A copy of the guarantor’s NRC
  • * A copy of the household list of the guarantor
  • * A recommendation letter from the ward/village administration
  • A recommendation letter from the police station

* For Dealer

  • Performa Invoice
  • Sale Contract
  • Import Permit/License (if the vehicle is imported) 
  • Delivery Order 
  • 2 set of product photos (All dimensions)

For other informations 

  • The installment payment shall be deposited to the buyer’s current account.
  • 2 copies of documents need to be submitted

“*” Mandatory Documents

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