Presently, 32 commercial banks operate in Uzbekistan. According to the statistics of the Central Bank of the Republic of Uzbekistan for June of the current year, a total of 2.160 billion soums were allocated by banks for consumer loans.
Consumer loan is a loan provided to individuals who have income from the results of their activities in order to meet their needs for the purchase of goods (services) produced only in the Republic of Uzbekistan.
Consumer loans are issued up to 100 percent of the purchased goods or services. The object of consumer credit may be goods (works, services) produced in the Republic of Uzbekistan, intended for consumer needs of an individual.
Issuance of financial consumer loans and their repayment is carried out in the national currency - "sum". According to the research, it was revealed that only 19 out of 32 banks provide consumer loan in Uzbekistan.
The following banks do not provide consumer loan to the population: "Agrobank", "Asaka bank", "Uzpromstroybank", "Xalq Bank", "Tenge Bank", "TBC Bank", "Kapitalbank", "Uzagroexportbank", "Anorbank", "Turkiston Bank", “Madad Invest Bank" (note:. no information available on the website),"KDB Bank Uzbekistan", "Hi-Tech Bank".
According to calculations, the highest rating on consumer loans belongs to "Saderat Bank”. Despite the fact that at the loan interest rate this bank ranks only 4th, here it will be possible to get the largest loan amount of 540 million soums, for a period of three years.
Rating of the most profitable consumer loans in commercial banks of Uzbekistan (October 2021)
*Calculations are made according to the methodology of the CERR
The second place was taken by “Ipoteka Bank”, which issues a consumer loan at the lowest rate of 17% for a period of two years. However, the maximum loan amount will account for just over 22 million soums.
The third in top three leaders is "Qishloq Qurilish Bank", where a client can get a consumer loan for the longest period of 5 years. At the same time, the rate will be 27% per annum.
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Microloans are provided by banks only to individuals on the terms of repayment, urgency and payment. At the same time, the amount of a microloan depends on the solvency of the borrower, but cannot exceed 50 million soums. Issuance of a microloan is carried out in the national currency by issuing cash or crediting funds to a bank card. A bank card can be both debit and credit.
Microloans in Uzbekistan can be obtained in 18 banks of the country. Among the banks that do not provide a microloan: "Infin Bank", "Asaka Bank", "Xalq Bank", "Microcreditbank", "Davr Bank", "Kapitalbank", "Universal Bank", "Ziraat Bank", "Uzagroexportbank", "Turkiston Bank", "Madad Invest Bank", "KDB Bank Uzbekistan", "Saderat Bank", "Hi-Tech Bank".
Calculations have shown that the most profitable microloans at the moment can be obtained in “Trustbank” at a minimum rate of 22% for a period of two years. At the same time, the amount of the microloan will be a maximum of 50 million soums.
It should be noted that at a minimum rate of 22%, a microloan can also be obtained in the “Ipoteka Bank". However, the amount in this case will be less than two and will amount to a little more than 24 million soums. At the same time, the maximum amount of a microloan of 50 million soums is also issued by another 11 banks of the country.
Rating of the most profitable microloans in commercial banks of Uzbekistan (October 2021)
* Calculations are made according to the methodology of the CERR
The most "expensive" microloan is issued by “Anor Bank” at a rate of 50% per annum.
The review data is actual at the time of publication. Lending policies are subject to change.
Gulrukh Rizaeva,
Intern of the Center for Economic Research and Reforms
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