Optima Bank review

The instant loan is priced at an annual percentage rate of 22% to 29.02%, and the representative example reads ТЕЗ instant loan: effective annual interest rate 29.02%. That sits above the 12% median recorded for personal loans on this site, so total cost is the main thing to weigh here.

Personal loans run from KGS 10,000 to KGS 300,000 in Kyrgyz som, with a term of up to 24. The lending listed is personal only, personal, so a borrower who wants a larger sum or a longer repayment window has to look further afield.

Eligibility rests on a Kyrgyz Republic citizen passport, a minimum age, and taxes paid into the Social Fund of the Kyrgyz Republic through official payroll. Collateral is not asked for, which widens the pool of applicants, though a formal tax record in the country is needed.

Funding on the instant loan starts from 5 minutes, and same-day funding appears among its features, same day funding. Optima Bank is a direct lender, direct lender, so the application and the decision stay with the bank rather than a broker or a comparison site.

Optima Bank is licensed by the National Bank of the Kyrgyz Republic under licence 018. It trades as Optima Bank Open Joint-Stock Company, was founded in 1992 and is based in Kyrgyzstan, so the lender sits inside the domestic regulatory system.

On home loans the initial rate is 19% and the annual percentage rate is 20.74%, with fixed periods of 0.25 to 7. Borrowing is capped at a maximum loan to value of 70%, a lower ceiling than the 90% median for home lending here.

The mortgage side covers both purchase and remortgage, purchase and remortgage, so switching lenders is within scope. The personal loan is narrower, personal, and at 22% to 29.02% it is a poor tool for spreading a large balance over years.

Support runs on phone, chat and help centre, so phone, chat and a help centre are the ways in. Borrowers in Kyrgyzstan asking about an application should expect to deal with the bank directly, which suits a lender that approves and funds on its own decision.