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Consumer Banking Loan Personal Loan
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Accessible amount to apply : | At most 80% of collateral Fixed Deposits Account Balance |
Loan Quantum : | Maximum amount (500,000,000 MMK) and Minimum amount (50,000,000 MMK) |
Loan Tenure : | ODAFD term is at least 30days up to 1 year |
Interest : | 10% per year |
Commitment fees : | 0.5% per yearCommitment fees will be charge upon unused amount for daily |
Repayment method : | To pay the loan interest and commitment fee before the end of the month Loan principal and interest can be paid off by the personal balance or by cancelling collateral fixed account |
Other necessary fees : | Loan application fees, Government stamp duty fees |
Bank will accept the following the kind of Fixed Deposits that opened with 120 days and above as a collateral.
Not allow to apply the ODAFD loan with the Fixed Deposit accounts that are already given the collateral for other loans.
When applying the ODAFD loan, the remaining maturity date of Fixed Deposit will have to 30 days and above.
Collateral Fixed Deposit must be on auto renewal mode.
The exact customers who engage in fixed deposit must sign for applying ODAFD.
The customers who want to apply for a Fixed Deposit loan must visit the original bank branch where he/she opened his/her Fixed Deposit Account and apply in person.
01
Inquire at the nearest branches of SHWE Bank.
02
Get the ODAFD application form at the nearest branches of SHWE Bank.
03
Keep the necessary documents on hand, then submit them at nearest SHWE Bank branches
04
If the bank approval has been obtained, the customer will get an ODAFD Loan by signing the required documents.
