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What is Hire Purchase Agricultural Equipment Loan?

Farmers can obtain loans through MCB Hire Purchase service to purchase agricultural machinery, tractors, harvesters, agricultural equipment and tools, with MCB providing financial support to improve their agricultural production.

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Special Benefit

  • Purchase an asset with minimum 30% down payment of the value.
  • Broad range of farm machinery to meet the needs.

Terms and Conditions

Applicant

  • Applicant must be the citizen of Myanmar and hold NRC.
  • Applicant must be between 23 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.
Basic documents required

Required Documents

Fees & Charges

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Interest Rate
14% per annum
Loan period
Up to 3 years
MMCB report
20,000MMK
Commission fee
Buyer (1%) and Seller (1%) (one time upfront)
Downloadable Files

Locations/Addresses of Linked Dealers

Access the list in PDF Format.

Monthly Payment Plan

  • ESAI ( Equal Semi- Annually Installment)
  • EQAI ( Equal Quarterly Installment)
  • EMI (Equal Monthly Installment)
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How To Apply

01
Customer interested to purchase the machines with installment plan visits Agricultural Machinery Companies linked with Myanmar Citizens Bank and makes inquiries.
02
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.
03
If the documents for applying for a bank loan are complete, the bank will process the loan and disburse it to the seller's account upon receipt of the loan.
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Product Features

There are 2 types of automobile hire purchase loans: Loan on Brand New Car and Loan on Used car.

MCB Bank allows you to purchase your vehicle of choice. You can choose from a wide selection of used and brand new cars 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.
Downloadable Files

Locations/Addresses of Linked Dealers

Access the list in PDF Format.
Access the list in PDF Format.