Borrower’s memo

1. Decision of receiving a credit is a responsible one.

Before getting a credit at the Bank, a borrower has to pay attention to the fact that getting a loan presumes the obligation to pay back the principal amount and interest amount for using a credit in the terms set by the credit contract.

Before making decision about receiving a loan, a borrower should:

• Define the purpose of the credit; evaluate his/er needs of getting a loan and ability to repay the credit in time;
• Get familiarized with terms and conditions on which the loan will be provided, including all fees connected to getting a loan and its repayment;
• Pay attention to the annual interest rate for using a credit;
• Pay attention to the size of loan monthly payments. While choosing the periodicity option of loan payments, it is necessary to estimate if you can get such income within the time of crediting, which will be not lee than the amount of partial repayment and interest on it.
• Pay attention to the full credit cost in absolute value, which includes client’s expenses and other fees at the moment of signing a credit contract. So, all credit conditions require the same attention when analyzing each loan option, and neglecting even one of the conditions may lead to undesirable financial consequences to you.

2. Thoughtfully study all information about credit and conditions of its service (repayment).

In order to make decisions about receiving a loan, you should get complete information from bank employees about the conditions on which crediting is done, including every payments connected to receiving a loan and its service (repayment).

Remember! Your right to get timely (before signing a credit contract) necessary and reliable information is secured by the Kyrgyz Republic legislation (article 50 of KR law “About banks and bank activities”. This information includes: credit size, schedule of its repayment, credit’s full cost in annual percent rates (your credit payments connected with signing and implementing a credit contract, including payments to third parties that are identified in the credit contract are included in calculation of credit’s full cost).

Thoughtfully study crediting conditions. Pay attention to contained therein references to tariffs of bank services.

Studying offers of a few banks may lead to making the best decision. Acquired information will let you compare consumer loans offers of different banks.

3. Attentively study credit contract and other documents.

Don’t’ hurry to sign documents. Before signing a credit contract, you should thoughtfully study it. In these purposes, possibly, take credit contract home, and learn its conditions which set your obligations (obligations and responsibilities) more carefully; make sure that the credit contract does not contain conditions that you are not aware of or the meaning of which you don’t get.

If any of the crediting conditions are not clear to you, you should ask bank employees for explanation and corresponding documents, and clarify the issues you are interested in. If you did not get necessary explanation you should call to the Bank Call center using the number 312 (905 805), and Bank’s professionals will help you to get answers on the questions interesting you.

If any fees presumed by credit contract are not paid, late, or not paid in the full size, the Bank may file a claim to pay a fine or a surcharge. Bank’s right to file such claims is usually mentioned in the credit contract.

When you attentively studied the credit contract, you should weigh all pros and cons of getting a loan, and calmly assess your ability of in time credit repayment and payment of all due fees.

4. Remember that signing the credit contract is the most responsible stage.

Remember! When you sign a credit contract, you agree with all its terms and conditions, and take obligations to fulfill them, including timely repayment of the credit principal amount and all the due fees; for failure to implement them (or implement them poorly) the bank is eligible to file a lawsuit.

It is necessary to remember that by signing a credit contract, a borrower agrees with all its conditions and takes obligations to fulfill them.

Borrower needs to know that in case of not executing or poorly executing obligations according to the credit contract, the Bank may claim the collection of the collateral according to Kyrgyz Republic legislation (including real estate: house or apartments). It is important to notice that Bai Tushum & Partners Bank’s collection of the collateral is only done based on the decision of the Court.

Sign a credit contract (or other bank documents) only when you are sure that you understand all its conditions, and you clearly know what payments you have to make and when to make them, and you are convinced that you can do it.