Customers may use valuable papers, savings books, deposit balances, real estate, or transport vehicles as collateral for the loan.
Yes. Customers may repay part or all of the loan principal before maturity depending on their financial situation. The early repayment fee is calculated based on the prepaid principal amount; however, most MSB interest rate packages waive early repayment fees from the fifth year onward.
If the customer fails to pay or only partially pays the principal or interest by the due date specified in the credit agreement: Overdue principal: The customer must pay overdue interest equal to 150% of the applicable interest rate at the time the loan becomes overdue, calculated on the overdue principal for the delayed period. […]
Yes. Fire insurance for houses/apartments and insurance for transport vehicles not only secure the loan for the Bank but also protect the customer’s own interests.
Customers are required to pay the collateral valuation fee, based on which MSB determines the loan amount according to the value of the collateral. This fee is paid when submitting the loan application documents to the Bank. Once the loan is approved, customers must prepare the notarization fee for the security agreement and the collateral […]
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