Consumer Loan

The loan is intended for the improvement of client’s living conditions and other consumer purposes. The borrower should act on his behalf and for his benefit.

Taking a loan on behalf of a third person is prohibited.

At least two guarantors, one of which shoulb be internal.The minimum criteria that external guarantors should correspond to are:

stable salary or business income and/or property (vehicles, real estate) comparable to the loan amount

The borrower is authorized to make early (total or partial) repayment of the loan without paying any penalties and implement obligations according to the Agreement. Moreover,

✔ In case of loan total early repayment, the borrower pays loan service and other fees, interest and loan amount as of the date of payment

✔In case of loan partial early repayment, the principal amount of the loan will be charged.

but if the payment exceeds the amount of subsequent repayment, then the exceeding part is channeled to the loan repayment (with the exception of cases prescribed by the loan contract).

In cases when the payment amount is not enough to cover total amount of subsequent repayment according to borrwer’s repayment schedule, then the repayment is done in the following order

1) Service and other fees 2) Interest 3) Loan

✔ The borrower is authorized to make repayment on his desire for the coming months according to Borrower’s Repayment Schedule. In that case repayment will be done

in the following order 1) service and other fees for subsequent months, 2) interest calculated as of repayment day, 3) interest for subsequent months on loan balance,

4) loan amount for subsequent months. The borrower is exempted to make repayments according to borrower’s repayment schedule for the already repaid months

In case of failure to meet the obligations in the deadlines set out by the borrower's repayment schedule, the borrower shall pay the Lender a penalty

1) In the amount of 0.13% of the unpaid loan amount for each overdue day 2) In the amount of 0.13% of the unpaid interest amount for each overdue

day In case of breaking the deadlines of paying the loan amount (breach), prescribed by the loan contract, set out by the repayment schedule,

the calculation of the loan annual interest rate prescribed by the contract with respect to the overdue part is stopped and from the day

of the breach till the actual repayment day of the overdue part subject to repayment, an interest starts being accrued in the amount of

24 percent (twenty-four percent) annual interest rate. In case of existence of overdue liabilities on loan and interests from the borrower’s side and

insufficiency of paid amounts, liabilities are paid in the following order: first are repaid expenses executed by the Lender for bringing back the obligations,

then service fees, accrued penalties, interests and loan amount.

Mandatory required documents:

✔ Passports (ID cards) and social security card of client

✔ Additional documents may be required by CC decision

✓ Availability of potential client’s place of residence in the service area of ECLOF UCO LLC representation network.

✓ Availability of confirmed monthly income at least for the past 6 months.

✓ Availability of satisfactory credit history: - The absence of classified liabilities (loans, guarantees), except standard ones, at the time of applying for loan.

✔ Insufficient level of creditworthiness,

✔ Bad credit history,

✔ Other risks

The nominal interest rate for this loan may be changed by ECLOF.It has the right to unilaterally change the interest rate of the loan in case the borrower

breaches the obligations set forth in the agreement, by the manner and cases prescribed by the agreement.

where:

A credit sum (initial size of credit provided to consumer by creditor). n number of the repayment directed to credit coverage

N number of the last repayment directed to credit coverage Kn amount of the n repayment directed to credit coverage Dn time

span between the day or credit extension and the day of making the n repayment directed to credit coverage, expressed by number

of days i Annual Percentage Rate (APR), which can be calculated if the other data of the formula are known from loan agreement or any other way