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Credit Card

Xalq Bank offers credit card holders excellent opportunity to save money. 

Now, using credit card of Xalq Bank means the use of free loan for 35 days. The amount of credit line varies depending on the type of card – from 500 to 50 000 AZN.

If cardholder repays the used amount of loan before 5-th day of the following calendar month, interest on loan will not be charged. Thus, term of the interest-free loan might reach 35 days. In case of non-redemption of the debt until 5-th day of the next month, 16 - 20% annual interest rate will be calculated to the loan.

 You can get more detailed information in Xalq Bank’s branches.

Loan amount 

Minimal amount: 500 AZN

Maximal amount : 50 000 AZN

Term

2-12 month

Annual interest rate

16 - 20 %

Service fee

0.1% of the loan amount (min.10 AZN,
max.1 000 AZN)

Collateral 

Guarantee of an individual or legal entity

The pledge of real estate

 

Note: The loan can be issued only to persons who have income in foreingn currency, as well as holders of foreingn currency deposit (the deposit serves as a collateral).

 

Note: Credit line ends at the end of the 11th month and no operations can be conducted later. Client should pay credit amount and accumulated interests  till the end of the 12-th month.

 

Requirements to Borrower and Guarantor

Age

Men: till 65 years

Women: till 65 years

Minimum length of service on the last job

6 months (the loan can be issued in the name of the student or his/her parents)

Other requirements

Positive credit history of the Borrower

 

Whenever guarantor is a legal entity, money turnover on all current accounts of the guarantor for the last 12 months must be less than 
15 000 AZN in a quarter.

Documents submitted by the Borrower and Guarantor – individual  

  • Application for credit (in a form approved by the Bank);
  • ID of the Borrower and Guarantor;
  • Certificate of earnings (for the Borrower and Guarantor):
     - reference from the employer, with the indication of position and salary for the last  6 months (month-by-month)  
     - for entrepreneurs:  copy of certificate of registration in the State bodies and tax declaration for the last 2 quarters;
  • Document about military service (or exemption from military service) (if the Borrower is a man).

Documents submitted by the Guarantor - legal entity  

  • Certificate of State registration of legal entity;
  • Account statement for the last 12 months ( month-by-month); 
  • Decision of the Superior body (Minutes of the Board meeting) about the provision of guarantee and authorization of representative of legal entity to sign the Contract of guarantee (if such authority is not specified in the By-laws of the organization).

 

To make decision about the issuance of the loan the Bank has right to request additional information, as well as the documents necessary for the confirmation of submitted information.