Loans

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OVERVIEW

Yoma Bank prides itself for having provided a professional and efficient loan service to its customers over the years. The Loans Department is organized in 3 sections manned by specialized personnel in each category. The sections are:-

Commercial Loans
Business Loans
Consumer Loans

Whether you need funds to finance your business, or to set up a manufacturing plant, or to buy a home, Yoma Bank is ready to assist you in any way possible. For detail discussion, please contact:-

Yoma Bank Ltd.
Loans Department
8^th floor, FMI Centre
380 Bogyoke Aung San Road
Pabedan Township, Yangon.

Tel : 951-246869, 951-246870, 951-240400

COMMERCIAL LOANS

The Commercial Loan section provides demand loan and overdraft facilities to businesses and individuals for the purpose of business expansion, working capital, purchase of raw materials, acquisition of fixed assets or to finance sales.

SECURITY ACCEPTABLE

Immovable Property (Land & Building)
Hypothecation of Goods & Machinery
Pledge of Shares
Trust Receipts
Guarantees
Gold & Diamond

LOAN PERIOD

1 – 3 years

Principal Repayment

A principal repayment of 3% to 8% of the loan is required monthly on all Commercial Loans.

Interest Rates

As per interest rate sanctioned by the Central Bank of Myanmar.
Please refer to our Interest Rate Table for the latest rate.
Interest is calculated using the Daily Rest method.

FEES & SERVICE CHARGES

Loan Acceptance fees

1% to 2.5% p.a. depending on the case and nature of loan.

Late fees or penalty fees are applicable on repayment defaults.
Legal fees and Assessor fees amounting to Ks. 3,500 and Ks. 2,500 respectively per collateral security, charged by the Lawyer and Assessor are payable by the Borrower.

BUSINESS LOANS

The Business Loan section provides project financing for industrial, agricultural and commercial projects. Business Loans are normally negotiated to tailor to the needs of each individual project and thus may vary in terms of drawdown schedule, repayment schedule, security collateral and interest rate terms.

PRINCIPAL REPAYMENT

Repayment of principle is negotiated on a case to case basis. Usually a grace period is given at the early stage of the project to allow time for the business to generate sufficient cash flow to service the loan.

Interest Rate

Interest rate for project financing vary according to the project, but in any case comply with the rate sanctioned by the Central Bank of Myanmar.

Interest is calculated using the Daily Rest method.

CONDITIONS and PRE-REQUISITES for a BUSINESS LOAN

A business plan with detail feasibility study of the project
Company’s background - current and past history
Information on Company formation and shareholders
Balance Sheet and Profit & Loss Accounts for the last 2 years, (not necessary for a newly incorporated company)
A Proforma Balance Sheet and Profit & Loss Accounts for the forthcoming 2 years
Organization Chart and Management Structure of the Project
Legal documents applicable to the Project
Updated statutory corporate documents required under the Companies Act.

CONSUMER LOANS

The Consumer Loan section provides two categories of Consumer Loans, Hire Purchase and Long Term Housing Loan.

Hire Purchase is offered mostly for consumer goods, electronics, automobiles and motorcycles and selected machinery.

Long Term Housing Loans are provided to home buyers at approved projects and can be amortized over a maximum period of 10 years.

SECURITY REQUIRED

Title to the goods or property for which the loan is granted.

Loan Period

Hire Purchase - 1 to 2 years
Long Term Housing Loan - 2 to10 years

Rental Fees & Service Charges

Hire Purchase Rental fees - 12.5% p.a.
Long Term Housing Loan - 15% p.a. (variable rate)

MY BANK

Commercial

Security (Commercial)

Loan Period

Fees & Service

Business

Principal Repayment

Conditions

Consumer

Security (Consumer)