FAQ
Frequently Asked Questions
What do you need to apply for a loan?
Here are the requirements to get a loan.
- 18 to 60 years old.
- Business license of business
- NRC
- List of households
- For individual loan, aco-applicant from the family and a guarantor are required
What do I need to apply group loan?
For a group loan, you needthe following information.
- Must form a group of at least3 to 5 people (must be like-minded and stable residents)
- Members must be accountable
- 18 to 60 years of age
- Business license or proof of business
- NRC
- List of households
- Loan amount (minimum of 50,000 kyats to maximum of 50,000 kyats can be borrowed)
- Details can be checked at the relevant township branch office.
Who can apply for Group Loan and How?
You can apply if you are a business owner, have a valid business or willing to start a business. You need to form a group with 3 to 5 group members same-minded with you.
Can you explain about individual loan?
For an individual loan, you need the following information
- Between 20 and 60 years of age
- Guarantor (1) (business person)
- One of the family member to apply together
- Business license or Proof of business
- NRC
- List of households
- Loan amount (minimum of 10,000 kyats to maximum of 100,000 kyats can be borrowed)
- Details can be checked at the relevant township branch office.
What about the interest rate?
The interest rate is only 2 kyats 33 per month. The interest rate calculation method is based on the reduced loan balance. The form of repayment once every 28 days at Hana branch office or with E wallet payment such as Wave Pay,KBZ Pay etc.
Can you explain about savings?
If you become a member of Hana, there are two types of savings: mandatory savingsand voluntary savings. 14% interest per year for each saving.
Is it mandatory to make the saving? How much do we need to save and what is the withdrawal process?
It is mandatory to save 5% of the loan amount as per FRD directive. You will be 14% annually assaving interest. If the client wishes to withdraw, need to request at least 28 days inadvance.
Are there any service and document fees and how much will these be?
Beneficiary Welfare Fund (BWF) or Insurance, other service fees are collectedduring the loan disbursement and collectionamount depends on the loan term.
Do I need to have a Business License to apply for Group Loan?
Business License is required for the group loan and if it is not available, Hana considers based on clients physically. In case you do not have a business license,you need to prove that you have a business. A recommendation letter for your business from the ward can be used as proof. Alternatively, Hana staff will assess your house and business for verification process before loan disbursement.
Do I need to have a Business License to apply for Individual Loan?
Business license is required for Individual Loan. In case you do not have a business license, you need to prove that you have a business. Arecommendation letter for your business from the ward can be used as proof. Alternatively, Hana staff will assess your house and business for verification purposes before loan disbursement.
Dose my business site need to be in the same township as registered in the household registration certificate?
Yes, they need to be the same for all States/Divisions except Yangon.
Do I need to live in the same township as registered in the household registration certificate?
Yes, you need to live in the same township as registered in the household registration certificate.
Does Hana provide online lending services?
Hana does not offer online loan. If you want to apply for a loan, you need to visit the Hana branch office in person.
FAQ
FAQ on Group Loan
What is Group Loan and how much can I borrow?
Group Loan means disbursing loan to a group formed with 3 to 5 members. Members are required to provide guarantees for each other within a group. The available loan size is from 50,000 kyats to 5 million kyats.
Who can apply for Group Loan and How?
You can apply if you are a business owner, have a valid business or willing to start a business. You need to form a group with 3 to 5 group members same-minded with you.
What are the requirements for Group Loan?
You must be between 18 to 60 years. You need to have NRC (National Registration Card), Household Registration Certificate, two passport size photos and live in the same ward with your group members.
Do I need to have a Business License?
Business License is required for the individual loan and if it is not available, Hana considers based on clients physically. In case you do not have a business license, you need to prove that you have a business. A recommendation letter for your business from the ward can be used as proof. Alternatively, Hana staff will assess your house and business for verification process before loan disbursement.
Does my business site need to be in the same township as registered in the household registration certificate?
Yes, they need to be the same for all States/ Divisions except Yangon.
How can I make the repayment?
The repayment shall be made once in 28 days at Hana branch office or with E wallet payment such as Wave Pay, KBZ Pay etc.
What is the repayment schedule?
The repayment schedule varies from 3 to 24 months installment plan. The detailed repayment schedule report will be shared with you after disbursement.
How fast is the disbursement process?
Disbursement will be made within one month if the required information is fully provided.
Can we form a group with relatives?
No, if he/she is in the same household registration certificate as yours.
Can someone from a different household registration certificate sign for acknowledgement?
No, the signee must be from the same household as the client.
Are there any service and document fees and how much will these be?
Beneficiary Welfare Fund (BWF) or Insurance, other service fees are collected during the loan disbursement and collection amount depends on the loan term.
Is it mandatory to make the saving? How much do we need to save and what is the withdrawal process?
FAQ
FAQ on Individual Loan
What is Individual Loan and how much can I borrow?
Individual Loans are for business owners who need to expand their businesses. This loan product is for our valuable clients to grow and help their business keep running. The amount of loan size is from 1 million to 7 million MMK for new clients and from 1 million to 10 million MMK for existing clients.
How can I apply for Individual Loan?
You can inquire about individual loan application process via phone. To apply, please visit our branch offices in person or you can also apply through our Field Officers.
What are the requirements for Individual Loan?
You must be a Myanmar citizen with the age between 18 to 60 years and have an own house. You must be the business owner of either own or rented business place. You need to submit the supporting documents of business as proof. You need a co-applicant who is from a family member and lives the same with you, but only need one guarantor (non-family member) for the loan size MMK 3 million and above.
Do I need to have Business License?
Business license is required for Individual Loan. In case you do not have a business license, you need to prove that you have a business. A recommendation letter for your business from the ward can be used as proof. Alternatively, Hana staff will assess your house and business for verification purposes before loan disbursement.
Do I need to live in the same township as registered in the household registration certificate?
Yes, you need to live in the same township as registered in the household registration certificate.