Gold Loan

Keep your gold safe at MD Bank and get a loan against it. Gold’s price will be assessed by our designated third-party panel assessors, who are reputable & well-established in the gold market under Myanmar Gold Entrepreneurs’ Association.

Feature

Loan repayment Period	3 Months
Interest Payment	Monthly

Eligible Borrower

Gold Traders, Importers, Industrial / SME Units, Exporters, Construction/ Real Estate Contractors, Service Providers, Project Contractors, and Other business enterprises, where there is frequent cash inflow & outflow

Proof of Income evidences

License of Business (Copy)
Income Tax for the last 2 years and the Current year
Financial Statements for the last 2 years and the current year
BOD Resolution from Borrower (If Borrower is Company)
BOD Resolution from Guarantor (If Guarantor is Company)
Company Registration Certificate issued by DICA, Company extract including the list of shareholders and Constitution of the company (As per registered in MYCO DICA.)

Required Documents

Loan application
KYC documents and income proof of borrower & Guarantors
- NRC (Copy)
- Census (Copy)
- Ward Recommendation (Original)
- Passport Photo (2 pecs)
- Photo of business Places, shops, Etc:
- Photo of (Gold bars, gold leaf and gold sticks)
- Weight for Gold bars, gold leaf and gold sticks presented as loan collateral; gold quality copies of vouchers stating the value.

Guarantee

Personal Guarantee:	Personal Guarantee of significant shareholders, partners if the loan is in the name of company/firm.
Corporate Guarantee:	Company /firm who uses the finance ( if the facility is in the name of share holders, partners )

Type of Collateral

Collateral Security :	Gold bars, gold leaf and gold sticks
Gold Brand :	Aung Thamar Di, Academy, Shwe Oak Awe, Ba Than and Logo of CBM.
Gold Quality :	16A (or) 24 Carat
Gold Weight :	(10) Kyat Thar( Minimum )

Note: Must be gold bars, gold leaf and gold sticks.

Fees and Charges

Interest Rate	12.5 %p.a.
Service Charges	1 %