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This loan may be provided to
the following applicants for the
purchase, construction
or upgrade of real estate or
automobiles, for medical
treatment, for holidays and for
meeting other personal needs:
1. Applicants who
have demonstrated sufficiently
high income (by submitting a
contract with their employer or
a letter from the employer);
2. Bank clients of other loan
products (i. e. those who have
good credit history with the
bank);
3. Entrepreneurs.
Loan requirements
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The loan is provided to
residents and non-residents,
who have a work permit,
permanently registered in
Baku, Sumgayit or any other
town within the country
where Bank of Azerbaijan has
a branch;
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The loan is provided for a
period of up to 6 months to
non-residents and up to 36
months for residents.
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The credit line is provided
at a 24-36% annual interest
rate;
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The borrower repays, on a
monthly basis, interest on
the outstanding amount and
part of the principal though
an annuity schedule.
Documents
required:
1. Copy of the borrower’s ID;
2. Letter from the employer (indicating salary and position) or other
documents confirming a
minimum required income level of
the borrower;
3. Borrower’s sample signature;
4. Application requesting a loan (Form №2);
5. Letter of request;
6. Other documents related to the loan.
Types of Collaterals Required
for Loans and Guarantees:
• Letter from
Guarantor indicating employment
and salary;
• Fixed property;
• Movables;
• Securities;
• Deposit at the bank;
• Guarantees provided by banks,
financial or insurance
organizations;
• Collateral should be insured
before the commencement of the
loan agreement
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