Hire Purchase
Hire purchase is a way to finance your next purchase with Mandalay Capital Hire Purchase Program whether it’s a new or used car, commercial vehicle, jewelry, motorcycle, agriculture, construction and factory machinery as well as medical equipment with flexible installment plan.
Loan Amount
From 10% to 50% depending on the product / contract
Down Payment
From 6 months to 5 years depending on the product / contract
Fees and Charges
Please contact us support@mcapital.com.mm for further information
What do we need to apply?
Business / Company Profile
- Company Certificate of incorporation or Company License
- Company Extract
- Directors’ resolution (meeting minutes)
- Company Audited Financial Statements (minimum 2 years)
- Tax returns (minimum 2 years)
- Business Plan (including cash flow projection)
- Cover letter with company letterhead for purpose of loan
Personal Profile
- Applicant’s NRC / FRC or valid Passport
- Household Registration and proof of residence (utility bills)
- Two Passport Photos
- Reference letters from respective ward administration office
Frequently Ask Questions
What If I'm late on a Loan Repayment?
+ x- If you are late on a loan repayment, your loan is considered delinquent, and late fees will be applied with no excuse. Mandalay Capital may report late customer list to Central Bank of Myanmar and Credit Bureau accordingly.
Can I pay off hire purchase early? Is there any prepayment penalty?
+ x- Making extra payments into your loan has the effect of paying your loan off sooner and reducing the amount of interest that you pay and in turn reducing the total amount payable. You need to bear in mind that we will charge fees if you pay the loan off early before maturity.
You, however, can pay off your loan early with fair and considerable prepayment penalty fee.
Can I apply for more than one HP loan?
+ x- No, you can’t in general. However Mandalay Capital will consider the urgency of application based on supplementary documents and other macroeconomic situations otherwise.
How to make repayment?
+ x- You can repay to our designated bank account directly via bank deposit, or internet banking or mobile banking.
Who is eligible for Hire Purchase of automobiles or business car leasing?
+ xIf you’re in business or self-employed, your business is trading and/or is in profit, the chances are you will qualify for a HP loan or car lease deal. Contract hire is open to:
- Merchants and traders / Sole proprietors
- Commercial Tax (CT) registered businesses
- Partnerships
- Limited companies
- Public Limited Companies
- Government Organizations
- Non-Government and Non-Profit Organizations
You will need to provide proof of your identity with employment verification and your address, bank statements and/or audited accounts and have a good credit rating.
