Credit cards in Uzbekistan: limits of up to 100 million soums, grace periods and bank interest rates

How the product works and how it differs from a loan

A credit card gives access to the bank's funds within an established limit: banks in Uzbekistan offer amounts of up to 50–100 million soums, with the specific limit calculated individually based on credit history. This is reported by Spot.uz. The key difference from a regular loan is the grace period: if you repay what you spent on time, no interest is charged. On average it lasts about 50 days, and at MONIX it reaches 62 days. The second difference is the renewable limit: the repaid portion of the debt becomes available for spending again, whereas a regular loan is issued only once.

An example of how the grace period works

Using AVO bank as an example, the publication explains how the grace period works: it lasts 45 days and is divided into 30 days for purchases and 15 days for repayment. If the card is received on September 9 and the first purchase is made on September 10, you can spend until October 10 and repay the debt without interest until October 25. The period is counted from the first purchase; if you are late, interest is charged on the remaining debt. After the 30 'purchase' days end, you can spend again while simultaneously repaying the debt for the previous cycle.

How much it costs and where cards are accepted

Interest rates on banks' offers vary considerably: Infinbank — from 25.55% to 54.75% depending on the product, Agrobank — 27–30%, AVO bank — 27.9%, Ipak Yuli Bank — 42%, Hamkorbank and APEXBANK — 40%, MONIX — 41%, TBC Bank — from 0% to 50%. Limits at most banks reach 100 million soums, while at TBC Bank, Hamkorbank and MONIX they are 50 million. Cash withdrawals are a separate matter: the fee is 1–4% depending on the bank, and the grace period does not apply to such transactions — interest is charged immediately. The payment system determines the geography of use: HUMO and Uzcard cards work only in the national currency within the country, while Visa and Mastercard also work abroad and in foreign online stores. According to the publication, HUMO cards are issued by Agrobank, Uzcard by APEXBANK and Agrobank, Visa by Ipak Yuli Bank, Infinbank, Hamkorbank (Tez) and MONIX, and Mastercard by AVO bank and TBC Bank.

Application and requirements

Usually an application is submitted on the website or in the app, the bank assesses creditworthiness and, after approval, issues the card — it is collected at a branch. There are other options as well: TBC Bank and MONIX deliver the card within three days, AVO bank issues it through its branded card machine, and some banks offer an electronic format. As a rule, a passport or ID card, PINFL, an application form, a phone number and employment details are required; income documents — if the terms require them. The minimum age of applicants ranges from 18 to 21 depending on the bank. Agrobank additionally requires confirmed official income for at least six months and may request collateral: an insurance policy, a guarantee or liquid property. Before applying, it is worth studying the tariffs: in addition to the interest rate, there may be fees for cash withdrawals, transfers, account servicing and SMS notifications.