FAQ
What do you need to apply for a loan?
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.
What do I need to apply group loan?
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.
Who can apply for Group Loan and How?
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.
Can you explain about individual loan?
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.
What about the interest rate?
Yes, they need to be the same for all States/ Divisions except Yangon.
How long can it take to apply for a loan?
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.
Can you explain about savings?
The repayment schedule varies from 3 to 24 months installment plan. The detailed repayment schedule report will be shared with you after disbursement.
Is it mandatory to make the saving? How much do we need to save and what is the withdrawal process?
Disbursement will be made within one month if the required information is fully provided.
What is the repayment schedule?
No, if he/she is in the same household registration certificate as yours.
Are there any service and document fees and how much will these be?
No, the signee must be from the same household as the client.
Do I need to have a Business License to apply for Group Loan?
Beneficiary Welfare Fund (BWF) or Insurance, other service fees are collected during the loan disbursement and collection amount depends on the loan term.
Do I need to have a Business License to apply for Individual Loan?
It is mandatory to save 5% of the loan amount as per FRD directive. You will be getting 14% annually as saving interest. If the client wishes to withdraw, need to request at least 28 days in advance.
Dose my business site need to be in the same township as registered in the household registration certificate?
It is mandatory to save 5% of the loan amount as per FRD directive. You will be getting 14% annually as saving interest. If the client wishes to withdraw, need to request at least 28 days in advance.
Do I need to live in the same township as registered in the household registration certificate?
It is mandatory to save 5% of the loan amount as per FRD directive. You will be getting 14% annually as saving interest. If the client wishes to withdraw, need to request at least 28 days in advance.
Does Hana provide online lending services?
It is mandatory to save 5% of the loan amount as per FRD directive. You will be getting 14% annually as saving interest. If the client wishes to withdraw, need to request at least 28 days in advance.
