Hire Purchase

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Hire purchase

Hire Purchase is a service provided by KBZ Bank for our account holders, SME Business owners and Organizations alike to pay for goods in installations over a period of time with a required down payment of 30-50 percent.


This service is eligible for individuals or organizations to hire purchase products/items by paying only 30% – 50% (down payment) initially and paying the remainder (depending on the product/item) throughout a period fixed by the bank.The credit terms differ depending on goods purchased.

Products/Items eligible for Hire Purchase

  • Condominiums
  • Computers and electronics
  • Cell phones and other communication devices
  • Automobiles and motorbikes
  • Heavy machinery
  • Agricultural tractor and machinery
  • Gold and jewelry
  • Furniture
  • Medical equipment

Down Payment


of product’s total cost

Service Charges


of product’s total cost

Rental Fees

(Year 1)(Year 2)(Year 3)(Year 4)(Year 5)

Percentage of the 50% to 70% the bank loaned

Sample Calculation for Hire Purchase (For 30% Down Payment – 1 year)

Product Cost

10,000,000 x 30% = 3,000,000

Service Charges

10,000,000 x 1% = 100,000

Rental Fees for 1st year

7,000,000 x 9% = 630,000

Initial Payment to bank

3,730,000 MMK

Monthly Payment

583333.33 MMK

Required Documents

  • Bill or receipt of product purchase
  • NRC card ( need to show original )
  • Household chart ( from 66/6 )
  • Local authoritative recommendation
  • Police Recommendation
  • Guarantor
  • Fire Insurance (For Condominium/Flat Buyers)
  • All in Insurance (For Car/Machinery Buyers)
  • Purchase Contract, Owner Book, etc. (If payment is cleared, all documents will be issued back)

Want to open this account?


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(+95) 1-538075

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