Product Benefits

Purchase an asset with minimum 30% down payment of the value.

Monthly equated installments during 1 to 3 years of tenor.

Broad range of farm machinery to meet the needs.

Terms and Conditions

Applicant must be the citizen of Myanmar and hold NRC.

Applicant must be between 20 to 60 years of age.

Applicant must actually do farm work and owns farm.

Each installment should be half of the seasonal income of applicant as maximum.

Required Documents

Applicant

  1. 2 passportphotos
  2. NRC (copy).
  3. Household List (copy).
  4. Ward Certificate (dated within a month)(original).
  5. Police Report (dated within a month)(original).
  6. Farm Form (7/105) for a minimum of 10 acres under the name of applicant.

Guarantor

  1. 2 photos (passport size)
  2. NRC (copy)
  3. Household List (copy)
  4. Ward Certificate (dated within a month) (original)
  5. Police report (dated within a month) (original)
  6. Farm Form (7/105) for a minimum of 10 acres under the name of guarantor
  1. 2 passportphotos
  2. NRC (copy).
  3. Household List (copy).
  4. Ward Certificate (dated within a month)(original).
  5. Police Report (dated within a month)(original).
  6. Farm Form (7/105) for a minimum of 10 acres under the name of applicant.
  1. 2 photos (passport size)
  2. NRC (copy)
  3. Household List (copy)
  4. Ward Certificate (dated within a month) (original)
  5. Police report (dated within a month) (original)
  6. Farm Form (7/105) for a minimum of 10 acres under the name of guarantor

Fees And Charges

Account Opening Fee1,000 /-
Document Processing Fee3,000 /-
Stamp Duty3,000 /-
Commission Fees-For 1 Year TenorBuyer 1%, Seller 1% (Upfront)
For (2,3) Years Tenor
Buyer 1%, Seller 1% (Upfront) 1st Year
Buyer 2% on remaining Loan Balance (2nd,3rd Year)
Interest Rate-For 1 Year Tenor10% (Upfront)
For 2,3 year Tenor
9.5%, 11% (Upfront annually/semi-annually)
Tenor1 Year to 3 Years

How To Apply

Customer interested to purchase the machines with installment plan visits Agricultural Machinery Companies linked with Myanmar Citizens Bank and makes inquiries.

Customer makes contract with necessary documents and opens Current A/C / Savings Deposit A/C at Myanmar Citizens Bank after choosing his/her preferred machine.

Customer provides initial deposit into Current A/C upon the complete analysis of necessary documents by the bank.

Locations/Addresses of Linked Dealers

Download List

Access the list in PDF format.

Happy Call

We’ll be more than happy to answer any concer you may have.

Happy Call

We’ll be more than happy to answer any concer you may have.

Frequently Asked Questions

MCB Bank allows you to purchase your vehicle of choice. You can choose from a wide selection of all types of farm machinery such as four-wheel tractors, harvesters, tillers, cultivator and tri-motorcycles from our list of authorized dealers.

Upon submission of complete documents, you will be informed of the results within 1 week of submission.

1.Customer interested to purchase the automobile with installment plan visits the car showrooms of dealers linked with Myanmar Citizens Bank and make inquiries.

2.Customer makes contract with necessary documents and opens Current A/C at Myanmar Citizens Bank after choosing his/her preferred car.

3.Customer provides initial deposit into Current A/C upon the complete analysis of necessary documents by the bank.