Motor Cycle Loan “ML”
RHM will work in collaboration with chosen dealers to finance motor cycles for customers as permitted township in Yangon.
Motor Cycle Loans (ML) Applicant – Myanmar nationals with formal, stable income and stable job/work least one (1) year or more.
Loan Amount – The minimum ML program Loan Amount is MMK 400,000 - and the maximum ML Loan Amount is MMK 1,500,000 - depending on the value of the motor cycle.
Mandatory Saving Deposit – Inclusive within a ML program Loan Amount is a 5% Mandatory Deposit required by Myanmar microfinance regulations.
Deposit – The deposit for HP is between 10% to 50% depends on the credit rating of the applicant.
Loan Tenor - ML repayment periods may be flexible months depending on the Loan Amount and the consumer’s salary, with monthly fixed repayment amount (principal + interest).
Current Interest Rate – The current ML interest rate is 2.3% per month on reducing balances(Effective Rate 1.4%). The Mandatory Deposit interest is 14% per annum as mandated by the Financial Regulatory Department (FRD) of the Ministry of Planning & Finance (MOPF) of Myanmar.
Ruby Hill Microfinance Company Limited.
- No.117, Warden Street, Lanmadaw Township,
Yangon, Myanmar. - Email : [email protected]
- Tel : +95 1 231 7281, +95 9 421956349