Business Mortgage loan

 

Terms

Target Audience

Individuals and legal entities engaged in business activities; Age limit: 21-65 (on the last repayment date of loan)

Areas

Trade, manufacture, service and construction 

Experience in the market

Minimum 12 months

Purpose of credit

Real estate (for personal or business needs)

Amount

AZN 10 000 – 200 000 or equivalent

Value

AZN, USD

Period

12 – 120 months (up to 10 years)

Grace period

None

Method of payment

Monthly, annuity

Interest rate

15%, in case 30-40% of the market value is paid initially
14%, in case more than 41% is paid initially

AAIR

16% - 19%

Cost and Referral

1. Assessment – based on tariffs
2. Insurance – based on tariffs (may be included in the loan amount)
3. Cash extract – 0.6% - 1%
4. Loan order – 1,5% - maximum up to AZN 1000

Guarantee

  • Real estate (the property to be purchased must be pledged)

Documentation

  1.  Documents required by the current rules for documentation

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