Personal Loan - SHWE Bank

Overdraft Against Fixed Deposit (ODAFD)

As the customers who were opened the Fixed Deposit Account at SHWE Bank to use the needed money with overdraft loan without cancelling the Fixed Deposit if they need money urgently.
By more using the new products that will be matched with the market’s requirements to the existing customers of SHWE Bank to become the loyal customers of the Bank.

If you need emergency money to use for business or personal, ability to use the necessity money without cancelling the Fixed Deposit.
Fast and easy access to a loan within a short period of time.
Unlike other types of loan, ODAFD does not cost other fees such as Lawyer fees, Assessor fees and fire insurance.
On the other hand, interest on Fixed Deposit is also paid while using ODAFD loan.

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Accessible Amount to Apply:	At most 80% of collateral Fixed Deposits Account Balance
Loan Quantum :	Maximum amount is (500,000,000 MMK) Minimum amount (50,000,000 MMK)
Loan Tenure :	ODAFD term is at least 30 days up to 1 year
Interest	13% per year
Commitment Fees:	0.5% per year. Commitment fees will be charge upon unused amount for daily
Repayment Method:	To pay the loan interest and commitment fee before the end of the month. Loan principal and interest can be paid off by the personal balance or by cancelling collateral fixed account
Other Necessary Fees:	Loan application fees, Government stamp duty fees

Bank will accept the following the kind of Fixed Deposits that opened with 120 days and above as a collateral.

Not allow to apply the ODAFD loan with the Fixed Deposit accounts that are already given the collateral for other loans.
When applying the ODAFD loan, the remaining maturity date of Fixed Deposit will have to 30 days and above.
Collateral Fixed Deposit must be on auto renewal mode.
The exact customers who engage in fixed deposit must sign for applying ODAFD.
The customers who want to apply for a Fixed Deposit loan must visit the original bank branch where he/she opened his/her Fixed Deposit Account and apply in person.