Personal Goals Under Control: Requirements for Obtaining Loan in Uzbekistan
Why take out a loan
A personal loan may be necessary for various purposes, such as purchasing a car, renovating a home, funding education, or covering daily expenses. However, taking out a loan comes with obligations, so it is important only to do so when you clearly understand your future income and expenses.
The demand for loans is on the rise in Uzbekistan. As of February 1, 2025, the total value of personal loans issued by banks reached nearly 180 trillion soums, marking a 20% increase compared to the previous year.
How to choose a reliable bank
License and regulation
Ensure the Central Bank of Uzbekistan licenses the bank and operates within the legal framework. This guarantees strict oversight and compliance with regulations.
Bank reputation and ratings
A bank’s reputation and rating are indicators of its stability and the quality of its services. To assess this, read reviews on independent platforms and social media. While negative comments are common, dissatisfied customers are often more motivated to provide feedback, making an objective evaluation still possible.
Pay attention to how the bank responds to complaints; banks that address issues promptly and professionally demonstrate good customer service. In contrast, indifference or overly formal replies may indicate a lack of care for customer satisfaction.
To gain a clearer perspective, compare this bank’s reviews with those of others. This can help you identify whether any issues are widespread in the industry or specific to one institution.
Interest rates and loan terms
Compare interest rates, fees and loan conditions. Some banks provide favourable terms on specific loans, such as mortgages or car loans, and have special offers on credit cards.
How to apply for a loan
Most banks in Uzbekistan now offer digital services, allowing users to apply for loans through mobile apps without the need to visit a physical branch. Credit cards are becoming increasingly popular as a flexible means of accessing credit remotely. Let’s look closer at AVO Bank’s credit card offerings and some tips for selecting a bank.
In March 2025, SNS Ratings published a ranking of banking apps in which AVO Bank scored 73.65 out of 100. This was a significant improvement from the previous year’s score of 54.10. The top-rated app scored 96.55 for comparison, while the lowest-rated app scored 55.27.
AVO Bank’s credit card terms are available on its website, avo.uz, and in its mobile app. The bank offers a credit limit of up to UZS 50 mln and a grace period of up to 45 days.
Flexible spending: From small daily expenses to significant purchases
According to Igor Kim, the AVO Bank platinum credit card is designed for everyday purchases and larger expenses.
«There’s no minimum purchase limit. Whether buying a cup of coffee or making a significant purchase using the full credit limit, the AVO Platinum card adapts to your needs. This flexibility makes it ideal for both daily needs and larger expenses,» he stated.
He also mentioned that customers are free to use the funds as they wish.
«We’ve noticed high usage for public transportation and dining, while the largest purchases tend to occur at local and international online stores.»
How to obtain the card
Kim provided the following usage data:
«In the first year, we issued 1.5 mln cards, which enabled nationwide access to banking services. Over 60% of these cards were issued outside of standard banking hours, and only 30% were issued in Tashkent and its surrounding region.»
Another important metric is that 20% of customers came through personal recommendations, indicating a high level of trust.
Transparent fees
«There are no fees for purchases, and a 45-day grace period applies to all transactions,» said Kim. While the card is mainly intended for purchases, it can also be used for cash withdrawals or transfers. These types of transactions may incur fees, but users will always be notified in advance through the app or ATM.”
After the exemption period
Interest is charged only if the cardholder fails to repay the balance within a 45-day grace period. «If the grace period ends without repayment, interest will be charged at an annual rate of 33.5%, similar to that of a microloan. However, you can repay at any time,» Kim noted.
The grace period automatically resets once the balance is fully repaid, allowing the next purchase to be interest-free. The mobile app continuously displays the exact amount owed and the repayment deadline.
Instant application and activation
«It only takes a few minutes to apply. Download the AVO Bank app, register, and submit your application. Your credit limit will be determined in 90 seconds based on your credit history and income. Once approved, your card will be activated immediately,» Kim explained.
He added that the AVO Platinum card offers premium-level service to the general public:
«We’re creating a ‘smart credit card’ market by providing premium features for everyday users. The card is accepted worldwide, supports online payments, and connects to our mobile app for spending control, limit management, and repayment tracking.»
Security as a priority
There’s no need to visit a branch; you can simply upload your passport or ID and complete facial verification. Kim emphasised that this convenience does not compromise safety.
«We use 3D Secure technology to confirm every transaction, preventing unauthorised charges,» he explained.
Users can also change their PINs, block or unblock their cards and request statements directly through the app.
«AVO Bank doesn’t just respond to fraud; we proactively combat it. Our AI-powered anti-fraud systems monitor real-time transactions to flag any suspicious activity,» Kim added.
Education plays a key role in our strategy as well. AVO Bank created a mini-series on cybercrime featuring local influencers, which has garnered over 10 mln views.
«Security also means providing round-the-clock support. Our 24/7 contact center is available to assist with everything, from blocking a card to explaining financial operations,» he concluded.
