The required documents may vary depending on the loan product, but for the submission of a loan application, the following documents will be sufficient:
The annual effective interest rate is the total amount of all payments made by the borrower under the loan agreement. This rate includes, in addition to the monthly payments, all fees and other charges imposed by the lending institution.
The nominal annual interest rate specified in your loan agreement is the calculated rate for the cost of the loan and is used to calculate your monthly payments.
Pay attention to the total amount of interest indicated in the repayment schedule, as this reflects the actual cost of your loan (for example: with an annual rate of 33%, the actual interest overpayment will be 18.76%. Therefore, with a loan amount of 100,000 som and a term of 12 months, you will actually pay the company 18,762 som in interest, assuming an annuity repayment schedule – that is, a schedule with equal monthly payments).
According to Article 344 of the Civil Code of the Kyrgyz Republic, "The guarantor (surety) is liable to the creditor to the same extent as the debtor, including the payment of interest, reimbursement of legal costs for debt recovery, and other losses incurred by the creditor due to the debtor's failure or improper performance of obligations."
If you are not sure about the financial stability and integrity of your relative or friend, do not agree to be their guarantor.
If the borrower fails to fulfill their obligations under the loan, you, as the GUARANTOR, will also bear joint responsibility under the law, meaning you will be required to repay the loan from your own funds. Additionally, a travel ban may be imposed by the judicial authorities until the full obligations under this problematic loan are settled.
A credit history is data about all your received and repaid loans, which is stored in unified Credit Information Bureaus - common databases that store information about the credit histories of all borrowers in the country.
The decision on your applications in our company and other financial institutions will depend on how positive your credit history is.
If there were no delays in repaying your loans, you will not face difficulties or rejections when applying for subsequent loans in the future.
You can obtain a parallel loan if your monthly income level allows it.
The company follows a policy of carefully analyzing your repayment capacity to avoid excessive debt and loan burden.
If the borrower fails to meet the repayment schedule, they will pay a penalty according to the terms of the Loan Agreement.
If there are any objective circumstances or valid reasons that prevent you from making the payment on time, you must CONTACT your loan specialist (curator) IN ADVANCE, and the company will assist you in resolving the issue.
Our company maintains documentation in Kyrgyz and Russian languages. For your convenience, please request the loan agreement in the language you understand.
Read the Loan Agreement carefully.
Feel free to ask the loan specialist to clarify any terms or questions that are unclear to you.
In the future, you can also contact them with any questions related to your loan.
You can get advice on obtaining a loan at our office located at: Bishkek, 145 Shopokov Street, or by calling our Contact Center at: +996 500 678 678
