Auto loan for individuals for the primary market

Central office, sales offices, and retail points of APEX BANK JSC

Purchase of new “MG” passenger vehicles supplied by the official dealer LLC “MACHINERY MOTORS INVESTMENT GROUP”

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

Within 1 business day after submitting the complete set of documents

The initial payment amount from 25% of the car's contract price, according to Appendix 1

Based on the borrower's solvency, but not exceeding 75 percent of the contract price of the purchased vehicle

The national currency of the Republic of Uzbekistan – Sum

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

Up to 60 (sixty) months (according to Appendix 1)

From 0% to 22% per annum, determined depending on variables defined by the terms of the partnership program

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

Differentiated or annuity

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

Provided to the borrower to choose from the 1st to the 15th day of each month, inclusive

Insurance of the collateral (insurance of movable property) for the entire loan term
Insurance against the risk of loan default for the entire loan term
Insurance premiums for the risk of loan default and movable property insurance are paid by the Borrower in a lump sum, multiplied by the loan term, to the account of the insurance company before the loan is provided, in accordance with the procedure and terms stipulated in the insurance contract and the insurance organization's rules

Insurance policy for the entire loan term
Collateral of movable property purchased with loan funds, to be received in the future (property rights)

No more than 75%

At least 125% of the loan amount
At least 130% of the loan amount for related parties

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 Enforcement Bureau of the Republic of Uzbekistan
Not listed in the “blacklist” of the Bank/banks or other organizations
The Borrower’s employer is not in the Bank’s blacklist of legal entities

Debt-to-income ratio (DTI) – the ratio of the Borrower’s total average monthly payments on all outstanding loans to their average monthly net income (after all taxes and other mandatory payments), and the Borrower’s DTI 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 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 share for the product must not exceed 4% of the loan portfolio for this credit product

Identity document (Passport/ ID card/ military service ID)
Vehicle purchase agreement
Certificate of self-employment (through the State Tax Committee)
If information about the Borrower’s income is not available from external services – it is necessary to provide an income certificate and/or a statement of account balances and transactions for the last at least 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 vehicle registration) and vehicle documents, 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); statement from the Pledgor’s spouse consenting to the provision of the collateral to secure the loan obligations
The Bank reserves the right to request additional documents from the Pledgor

No more than one loan agreement