Business Loan (Group Loan)
Upto 20,000,000 MMK
Maximum 1.5 times of basic income
3 months, 9 months and 12 Months
Business Loan (Group Loan)
Upto 20,000,000 MMK
Maximum 1.5 times of basic income
3 months, 9 months and 12 Months
It is a service program for those who are doing business and those who have income to get MO Loan Service for group loans.
Eligibility
- Age between 18 ~ 60 years old.
- Myanmar Citizen only
- Must be a current resident of the MO coverage area
Credit Limit and Specifications
- Interest Rate is 2.33% per month
- Loan Amount can get Minimum 200,000 MMk to Maximum 500,000 MMK
- Repayment type is weekly or monthly
- Terms can be choose 52 Weeks / 12 month
- Saving charges is 1,000 MMK and services charge is 2% of the loan amount with a tenor of 12 months ( which are 1.5% for application Fee and 0.5% for Beneficiary Welfare Fund )
Loan Assurance Person
- Three to four group member
- Two family guarantor
Documents Requirement for Applicant
- Provide copy of NRC and must show original NRC
- Provide original resident proof which issued within one month
- Provide copy of household certificate and must show original
Documents Requirement for Guarantor
- Provide copy of NRC and must show original NRC
- Provide original resident proof which issued within one month
- Provide copy of household certificate and must show original
Eligibility
- Age between 18 ~ 60 years old.
- Myanmar Citizen only
- Must be a current resident of the MO coverage area
Credit Limit and Specifications
- Interest Rate is 2.33% per month
- Loan Amount can get Minimum 200,000 MMk to Maximum 500,000 MMK
- Repayment type is weekly or monthly
- Terms can be choose 52 Weeks / 12 month
- Saving charges is 1,000 MMK and services charge is 2% of the loan amount with a tenor of 12 months ( which are 1.5% for application Fee and 0.5% for Beneficiary Welfare Fund )
Loan Assurance Person
- Three to four group member
- Two family guarantor
Documents Requirement for Applicant
- Provide copy of NRC and must show original NRC
- Provide original resident proof which issued within one month
- Provide copy of household certificate and must show original
Documents Requirement for Guarantor
- Provide copy of NRC and must show original NRC
- Provide original resident proof which issued within one month
- Provide copy of household certificate and must show original
Questions?
Get Answers
What is MO Loan?
MO Loan is one of the loan services in which a person who is employee or self employed can apply for General usage, business investment and educational use.
How to apply for a MO Loan?
MO Loan can be applied from MO LAF application, ENQUIRE NUMBER, Loan Officer.
MO loan service can be applied?
Yangon Division – Pazundaung, Botahtaung,Dala, Thanlyin, Insein, Htantabin, Hmawbi.
Bago Division -Bago.
Mon State – KyiteHto, Tha Htone.
Who can apply for an Education Loan?
Age between 18 – 60 years old and only Myanmar Citizen can apply Education Loan
How much interest rate will be charged?
2.33% monthly and 28% annual
How can I make repayment for MO Loan?
MO Loan can be repaid from MO MFI (Loan officers) at MO Kiosk currently.
Any late fees will be charged if repayment is late?
No, late fees will not be charged but it may affect the next Loan application.
How long will the Loan Term be?
3 months, 6 months, 9 months, 12 months based on loan service.
Are there any additional charges and fees?
2% for total (1.5% – Processing charges, 0.5% BWF) Saving – 1000 MMK
How many guarantors need to apply for a MO Personal Loan?
One applicant, one family guarantor or colleague and Institute / University or School as guarantor
Sign up for updates from MO
Quick Links
Singapore
68 Circular Road, #02-01, Singapore 049422
Myanmar
Tower B, Level 3, 66-76, Corner of Merchant Road and Pansodan Street, Kyauktada Township, Yangon 11182, Myanmar
Thailand
Ekkarnai – 30 Sukhumvit Soi 61, Khlong Tan , Watthana, Bangkok,10110
Vietnam
No. 22, Lane 20 Ho Tung Mau, Mai Dien Ward, Cau Giay District, Hanoi City, Vietnam
Copyright © 2024 MO. All rights reserved.