1. What types of loans could be received in your MCO?
Depending on the objective of lending, you could receive loans on the following products: «Business development», «Business turnover» (overdraft), «Under contract», «Automobile lending» (for purchase of motor vehicle and against motor vehicle collateral), «Express secured loan» (without income confirmation), «Express unsecured loan», «For any purposes» (collateralized consumer lending).
2. I already have a loan at MCO «Credit Systems». Could I receive one more loan?
In case of solvency confirmation you could receive second loan.
3. Where and in what form i have to submit application for early repayment of the loan? Is it possible to send it via electronic mail?
Application on early repayment of the loan is documented in the MCO office and couldn’t be accepted via electronic mail.
4. Where I could repay a loan?
You could repay next payment on the loan at the MCO office or at any bank subsidiary.
5. Could I receive a loan if I have not-official salary?
At the absence of income confirmation, you could receive a loan on the «Express secured loan» product. As to other products – income confirmation is needed.
6. I have selected automobile salon where I want to buy a car. Could I receive a loan for this automobile at your MCO?
MCO gives a loan for purchase of motor vehicle both for business purposes and for personal usage. You could buy a motor vehicle in the automobile salon and at the secondary market as well.
7. What is validity period for the applications approved?
Validity period of MCO’s decision on granting of a microcredit is 15 (fifteen) calendar days from the date of decision taking.
8. What is the maximum period for receiving of the Express loan?
Express secured loan is given for maximum period up to 60 months, unsecured loan – up to 24 months.
9. Is it possible to postpone/transfer payment on the loan due to some financial difficulties?
By decision of MCO there is a possibility to postpone the payment.
10. My application for receiving a microcredit was denied without explanation of reasons. Why?
MCO has right to refuse a loan issuance without explanation of reasons.
11. What actions will be taken if i would forget to repay a loan on time?
In case of delay of the loan repayment, MCO imposes penalty in accordance with its tariffs. Besides, it negatively affects your credit history and further relations with MCO and second-layer banks.
12. Could third party make payment for the loan from the client’s behalf? What is needed for it?
Yes, he/she could. It’s enough to give name of the client at the cash desk of MCO. At microcredit repayment by non-cash method in the bank, data on client’s ID card and number of Client’s Loan Agreement are required (what is indicated in the bank slip: payer – third party, sender – MCO client).
13. What inquiries could be received at MCO on loans?
Based on client’s application to MCO, client could get any information related with his/her credit history and another information not contradicting to legislation of RK, e.g., inquiry on loan indebtedness outstanding/absence of indebtedness, penalties, new products, campaigns.
14. Could i make partial early repayment of the loan?
There is a system at MCO stipulating partial or full early repayment of the loan without penalties imposed.
15. What are terms for consideration of the application for a loan issue?
Applications’ terms of consideration are from 1 to 3 working days from the moment of necessary documents’ submission.
16. Is there possibility to repay loan principal at the end of a microcredit’s period?
MCO offers three repayment methods: annuity payments, differentiated payments and payments based on the individual repayment schedule (interest is paid monthly, principal – quarterly, twice an year, and at the end of a microcredit’s period).
17. Could I receive a loan at your organization if I have delayed payments in the bank?
Client with current delayed indebtedness in the second-layer bank couldn’t receive a loan at MCO till its full repayment.
18. Is it possible to open a credit line at MCO?
There is possibility to open a credit line for all products of MCO.
19. Is it necessary during execution of application for receipt a microcredit as IE to submit certificate of no arrears issued by Tax committee?
One of the requirements during consideration of issuance a loan to individual entrepreneurs and legal entities is a presence of the certificate of no arrears on obligatory payments to budget.
20. Are any penalties stipulated by MCO for early loan repayment?
You could repay your loan early at any time without penalties.
21. I’m working only 1 month, could I receive a loan?
Minimal employment period at the last working place should constitute not less than 4 months at the total labor experience not less than 1 year.
22. Could I pledge as collateral apartment with illegitimate alterations?
In capacity of collateral, apartments with illegitimate alterations are accepted, but subsequently you will have to legitimate these alterations in the authorized body.
23. Are any limitations for selection of appraisal company?
Appraisal could be obtained at any appraisal company having a license for corresponding activities and appearing a member of one of the appraisers’ chambers.
24. Is spousal consent is required for receipt of a loan?
In case of official marriage at the moment of receiving a loan it’s necessary to submit spousal consent certified by notary.
25. Are third parties could act as collateral providers?
Any person complying with requirements presented by MCO to collateral providers could act as collateral provider.