Auto loan for individuals for the primary market

Central office, sales offices and retail outlets of JSC “APEX BANK”

Purchase of new «JAC» brand vehicles supplied by the official dealer: LLC "JAC Motors Tashkent"

Individuals – residents* of the Republic of Uzbekistan, aged from 18 to 70 years (inclusive) at the time of submitting the loan application
Officially employed and having official income for a period of at least the last 6 months as of the application review date
Persons registered as self-employed

Within 1 business day after submission of the complete set of documents

The amount of the initial down payment is from 25% of the contractual value of the vehicle, in accordance with Appendix 1

Based on the Borrower’s ability to pay, but not exceeding 75 percent of the contractual value of the purchased vehicle

National currency of the Republic of Uzbekistan – UZS

One-time in a cashless form, by transferring funds by the Bank to the seller’s account based on the vehicle purchase agreement, after the Borrower pays the initial down payment for the purchased vehicle from their demand account at the Bank. The loan is provided within 1 (one) business day from the moment the Borrower fulfills all conditions required by the Bank to open financing. At the same time, the initial down payment may be made through the cash desks of other banks with mandatory submission to the Bank of a receipt confirming the successful payment

Up to 60 (sixty) months (in accordance with Appendix 1)

From 0% to 26% per annum, determined depending on variables defined by the terms of the partnership program

The base interest rate is set at 40% (forty) per annum

Differentiated or Annuity

Monthly, starting from the month following the month of loan issuance, in accordance with the terms of the concluded loan agreement

Provided for the borrower’s choice from the 1st to the 15th (inclusive) of each month

Insurance of the collateral (movable property) against risks of damage and loss for the entire loan term at the Borrower’s expense, under the terms of the concluded insurance contract and the insurance organization’s rules

Loan default risk insurance policy for the entire loan term Pledge of movable property purchased with loan funds, which will be acquired in the future (property rights)

Not more than 75%

At least 125% of the loan amount
At least 130% of the loan amount for persons related to the bank

Positive credit history; absence of credit history is allowed
No outstanding overdue debt on previously obtained loans as of the date of loan application review, according to credit bureau reports and other supporting documents/sources

No debt in the database of the Bureau of Compulsory Enforcement of the Republic of Uzbekistan
Not on the “blacklist” of the Bank/banks or other organizations
The Borrower’s employer is not on the Bank’s legal entities “blacklist”

The ratio of all average monthly payments on all active loans of the Borrower to their average monthly net income (after deducting all taxes and other mandatory payments); the Borrower’s debt burden ratio must not exceed 50%, taking into account the loan being obtained
Exceptions:
for Borrowers newly registered as self-employed less than 6 months before applying to the Bank, the DTI indicator may not be considered and/or calculated, but not more than 15% of the total number of outstanding loans issued by the bank to individuals
for other Borrowers, a DTI of up to 100% is allowed, but not more than 15% of the total number of outstanding loans issued by the Bank to individuals

The NPL ratio for the product should not exceed 4% of the loan portfolio for this credit product

Identity document (Passport/ ID card/ military ID)
Vehicle purchase agreement
Self-employment certificate (through the State Tax Committee)**
If there is no information about the Borrower’s income from external services, it is necessary to provide an income certificate and/or a statement of balances and transactions on the bank account for at least the last 6 (six) months
If necessary, the Bank reserves the right to request additional documents from the Borrower

Documents for the property provided as collateral, certificate of state registration (after the vehicle is registered) and other documents if necessary
For a Pledgor who is married: Pledgor’s marriage certificate
Identity document of the Pledgor’s spouse (passport/ID card); a statement from the Pledgor’s spouse consenting to provide the collateral to secure the loan obligations
The Bank reserves the right to request additional documents from the Pledgor

Reimbursement of the Bank’s expenses related to loan default risk insurance, calculated at 0.7% per annum of the collateral amount for 12 months, is paid by the Borrower in a one-time payment

For one borrower under this credit product, no more than one loan agreement can be concluded within one year