Transaction account

Go in deficit zero balance on your account

Open a transaction account online with no bank visiting

Limit up to 1,000 reference calculation value for the bank's customers convenience

From 24% per annum with timely repayment

Favourable grace period - 7 days

Loan conditions

Form of Credit

Revolving line of credit (in the form of an overdraft)

Purpose of Credit

financing of current activities (purchase of raw materials, goods, materials, components, payment for works and services, payment of wages, taxes and duties, as well as other expenses required to maintain business activities).

Purposes for which it is prohibited to use the credit

- repayment of any debt to the bank (except for the debt for settlement and cash services);
- repayment and provision of loans and credits;
- purchase of equity securities;
- payment of dividends;
- investment in authorized capital;
- replenishment of secondary deposit accounts.

Currency of Credit

The national currency of the Republic of Uzbekistan is Uzbek soum.

Maximum allowable credit amount (limit) per a borrower or a group of related borrowers

In the amount not exceeding 25% of the banking capital of the level 1.

Maximum credit amount (limit)

No more than 50% of the total amount of average monthly receipts to the borrower's current accounts for the last 6 months. The maximum amount for this Credit Product is 1,000 Basic Estimated Amounts.

Term of the line of credit

No more than 12 (twelve) months from the date of conclusion of the credit agreement

Tranche

Part or full amount of the credit which is disbursed during the term of the right for disbursement of a tranche, i.e. without zeroing the credit account within the limit specified in the agreement. After zeroing (full repayment) of the credit account, the next disbursement shall be considered the next tranche.

Term of the right for disbursement of each tranche

within 30 (thirty) days from the date of the first disbursement of part of the tranche. During this period, the borrower will be entitled to disburse the tranche in several parts or in full (remaining amount of the credit). After the expiration of this period, the borrower will not be entitled to disburse the remaining loan without repayment of the previous tranche.

Tranche Term (the payment period of each tranche)

No more than 45 (forty five) days from the date of disbursement of the tranche

Interest rate

21% per annum

Default Interest (for the principal debt)

69% per annum

Grace period for interest accrual (no interest will be accrued during this period)

7 days from the date of the first overdraft disbursement for each tranche

Procedure for repayment of credit interest

monthly

Repayment of the tranche principal debt

Automatically by the bank, upon completion of the transaction day, by the payment of the funds to the deposit account of the borrower

Early repayment

Free, at any time

Payment schedule

The information is contained in your personal account

Security

A pledge of property (including personal and third parties' property of legal entities and individuals) and a guarantee can be the credit security:
immovable property;
vehicles;
deposit (in national and/or foreign currency);
special equipment;
other liquid assets;
guarantee of banks and insurance companies.

Other types of securities that are not prohibited by the legislation of the Republic of Uzbekistan can act as credit securities. A combined security is possible.

Security registration

All costs for the registration of security shall be borne by the borrower/ pledger

Period for consideration of credit application

3 days

Borrower requirements

Who can get a credit?

1. Business entities (legal entities and individual entrepreneurs) registered in accordance with the procedure established by the legislation of the Republic of Uzbekistan.
2. Demand main deposit account opened in ANOR BANK JSC.
3. No negative credit history.
4. The adequacy of the projected cash flows for the project to be credited.
5. The term of work and official registration of the business should not be less than 6 months.
6. Unprofitable enterprises and enterprises that have not readily available balance sheet are not subject to crediting.
7. Appropriate permits and licenses for the business activities carried out, if the client's business activities are subject to licensing.

Security requirements

Security requirements

- a security is accepted for a total amount of at least 125% of the credit amount;
- a security is accepted in the amount of at least 130% of the credit amount for credits granted to persons associated with the bank.

Collateral

- must be free from any encumbrances

Requirements for the pledge of real property

- there must not be any registered persons (temporary or permanently registered)

Loan granting procedure

Conditions prescribed for granting a credit

The credit is granted after approval of the credit transaction by the relevant bank departments, conclusion of the credit agreement and registration of the security in the manner and form that satisfies the bank and in accordance with the current legislation of the Republic of Uzbekistan.
The credit is provided by payment of the debit ("negative") balance of the borrower's main deposit account opened with ANOR BANK JSC at the end of the business day.

List of documents for obtaining a credit and providing a security

List of documents for obtaining a credit:
  • Application for a credit;
  • Constituent Documents (Articles of Association, Memorandum of Association) and all additions and amendments thereto;
  • License, if the Borrower's business activity is subject to licensing;
  • Minutes of the General Meeting of Founders relating to the obtaining of a credit, providing of a security and the powers of the director/responsible persons to sign the credit and security documents (original copy);
  • Passports of founders, senior manager (director) and chief accountant;
  • Financial statements (balance sheet, profit and loss statement, interpretation of overdue receivables and payables) for the last financial year and operational financial statements as of the last reporting date;
  • Business plan with the list of cash flows for the project;
  • Certificate of cash flow on accounts opened with other banks for the last 12 months, information on the Card File-2, information on loan debt (credits, guarantees, letters of credit, leasing and other financial obligations), specify if the main/secondary deposit account of the Borrower is serviced in other banks;
  • Security documents;
  • Other documents requested by the bank.


List of documents for pledging the property (when the pledger is a legal entity):
  • Constituent Documents (Articles of Association, Memorandum of Association) and all additions and amendments thereto;
  • Minutes of the pledger founders with the consent to pledge the property and with stating the powers of the director/responsible persons to sign the pledge documents;
  • Passports of founders, senior manager (director) and chief accountant;
  • Documents on the right of ownership of the pledged property:
    - cadastral documents for the property;
    - vehicle /special equipment registration certificate and etc.
  • Report of an independent appraisal company determining the market value of the pledged assets. If vehicles, special equipment, apartments in multi-storey buildings, residential and office buildings are pledged, and the pledger has no state share, the report of the independent appraisal company is not provided.


List of documents for pledging the property (when the pledger is an individual):
  • Owner's passport;
  • Documents on the right of ownership of the pledged property:
    - cadastral documents for the property;
    - vehicle /special equipment registration certificate and etc.
  • Report of an independent appraisal company determining the market value of the pledged assets. If vehicles, special equipment, apartments in multi-storey buildings, residential and office buildings are pledged, the report of the independent appraisal company is not provided.

How transaction account works

Go in deficit under limit

Make any payments from the account with a zero balance up to the limit determined by the bank

Pay off debts on time

It is necessary to repay the debt within 45 days. Within the first 7 days this will be free of interest

Go in deficit again

After debt repaying, you can make payments again with an in deficit balance within the established limit

6 reasons to open a transaction account in ANORBANK

Go in deficit with zero balance on your account

Use credit funds for any purpose in your core business

Use the bank's funds for free for a whole week

Your debt is automatically covered from the proceeds to the account

You always can settle accounts with employees, partners and suppliers

Remote control and 24/7 support by a contact center for transaction account

Calculate the line of credit

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