Procedures and Services

Financings Petty Farmers:

The Banco Popular of Ahorro offers banking financings to the Petty Farmers, already be proprietary or usufructuary of lands, developmental of their agricultural productions, these stand out in:

Financing of Production or Working Capital: Destined to finance the production expenses of the temporary cultivations or of short cycle, the cultural attentions to permanent plantations and the acquisition of cattle for fattening, among others. In all cases the productive life of the agricultural productions included in this segment is of 18 months or less.

Financing of Investment: They grant themselves to finance fostering, renewal, rehabilitation of permanent cultivations and the attentions of the 1er year in those permanent cultivations whose first marketable production takes time more of 18 months in obtaining myself. The acquisition of sheep and goats also is included and I vaccinate for foot of offspring, of working animals; As well as the acquisition of means of work and raw materials in the Net of Tiendas of Domestic Commerce.

The productions that are intended to finance him will have to be insured and the requests of financings should be presented to the bank branch before the start of every campaign of the cultivation that they talk to each other. In the case of vernal campaigns or cold they should also show up before the start of them

Same. Branch banking will take the necessary measures that they enable resolving the requests into the possible shortest time, the one that no

He will have to exceed the 20 working days, installments from the date of reception of the same.

In order to agree to the banking financing a condition will be that the applicant not present arrears in the fulfillment of the debts that he has with any Banking Institution, neither her DC he associates to, to be the case.

Of being approved the solicited financing will demand to have a checking account, like requirement in order that he is granted to you.

The documentation to present for the request of financing will be the following:

Model of request signed by the applicant.
Proof of identity.
Resolution broadcast by the Municipal Delegate of Agriculture where the earthen delivery in profit consists of, for the case the beneficial owners.
Certification broadcast by the Office of Control of the Earth, intervening which become famous the legal tenancy of the land.
Agreement on relations and obligations between the beneficial owner and the Municipal delegate of Agriculture, for the case of the beneficial owners.
Document where the CCSF he draws himself up to, for the case of the beneficial owners becomes famous.
Document emitted by the CENCOP, where the quantity of cattle is evident that the applicant has, specified for category, for the producers of cattle.

The applicable interest rates to these financings are the in use ones for the Central Bank of Cuba and vary in dependence of time of validity of financing, as shown from now on:

The customer should offer our banking institution. These guarantees find themselves foreseen in the legislation in use, between the ones they meet between, for the requests of financings to $ 20 000,00:

Cession of future earnings
Confident Agropecuario established by the ESEN

The superior financings to $ 20 000,00 will have to count on complementary guarantees of the provisions in the legislation in use, that 20 cover up 50 % of the total sum that surpasses the $ 000,00, for instance:

Joint and several sureties should count on a creditworthiness enough in order that overall back the total sum that surpasses the 50 % of the financing requested over the $ 20 000,00.

The moneys on deposit of saving (of the different modes) in aggregate will just the same back 50 % of the total sum that surpasses the $ 20 000,00.

In the cases in which the farmer operate the checking account (generate superior income to $ 25 000,00) will be considered like guarantee a minimal balance in the equivalent checking account to 30 % of the amount over the $ 20 000,00.

He can also offer himself for like guarantee financings, he pawns it on the agricultural goods following:

Horses and cows
Tractors and Self-Propelled Harvesting Machines

For these cases the bank will demand the ownership of the good, sent for the Record of the Livestock Control (CENCOP) and the Record of tractors and self-propelled harvesting machines (CNCT), in which be evident the value of the well-expressed in money, that he can understand the official value or the market price.

Checking accounts:

In the closer subsidiary of the Banco Popular of Ahorro to your dwelling place, you can open and managing checking accounts in CUP or CUC, previous signature of the Contract that will subscribe between the headline and the Bank, accomplishing 500,00 CUP's initial deposit or 50,00 CUC, holding these total sums like minimal balance for your validity.

Checking accounts can be:

Place mat: A single headline.
Collective: More of a headline, these can be:

Solidary indistinct ó: Each headline can bring about calculation individually.
Merged or united: All headlines can bring about the calculation of united way and they should be natural persons authorized to exercise the self-employment, or other kinds of step not stater

For the opening of the checking accounts representation or seizing will not be admitted.

For the operativeness of the checking accounts, the headlines will be able to authorize natives by means of Notarial Poder to act like authorized signature of the account to other people; They will be able to authorize besides, without keeping the requirement of the Letter Of Attorney, other native born people to accomplish deposits in your opinion, as well as to delivering and receiving documents.

The checking accounts will be able to operate with checkbook and the overdraw is not admitted. For your operativeness instruments of payments, such will be used I eat: Checks not transferable by endorsement, cashier's checks and bank transfers. These accounts will go by the Regulations of Checking Accounts of the Banco Popular of Ahorro.

In order to agree to this service you should show the following documents:

Model of request signed by the applicant.
Proof of identity.
Official document that authorizes it to exercise activity for own account, or other kinds of step not state-owned, emitted for the competent authority and a same photocopy.
Registration in the Assessment Roll in mail with what's established in the legislation.
Document sent by the National Office of Tax Administration of the municipality, certifying the level of annual earnings declared by the contributor, to be applicable.
Other ones that the Bank can consider necessary, taking into account the aspects established in the Regulations of Checking Accounts of the Banco Popular of Ahorro.

Financings:

The Banco Popular of Ahorro offers you financings stops:

Working capital: They will grant themselves to cover up the ordinary resourceful needs in the activity authorized to practice, like for instance: The acquisition of raw materials, the payment of electricity, water, gas, expenses of salaries, among others. This financing should be amortized in a period not bigger of 18 months.

Investment: They will grant themselves to finance investment expenses once the activity that he realizes, such were associated to I eat: Construction, modernization or restoration of sites, purchase of necessary equipamiento and other objectives of financing of similar nature. This financing should be amortized in a period not bigger of 5 years.

The minimal total sum to finance is both times of 3 PROSECUTION and the maximum total sum depends on the creditworthiness of the applicant, the one that is in mail with the income of his business.

The applicable interest rates to these financings are the in use ones for the Central Bank of Cuba and vary in dependence of time of validity of financing, as shown from now on:

Maximum time in months       Interest rates yearly

3                                               From 2.5 to 3.5 %

6                                               From 3,0 to 4,0 %

12                                             From 4,5 to 5.5 %

24                                             From 5.5 to 7.5 %

36                                             From 6.5 to 8.5 %

60                                             From 7,0 to 9,0 %

In order to request financings, the applicant should keep 2 prerequisites that they are:

Having the authorization to exercise the Self-Employment or another kind of Gestión No Estatal.
Not having amounts overdue of any kind with the banking system.

The existence of the checking account will be a must when a financing is granted.

The legal documentation to present for the request of financings will be the following:

Proof of identity.
Model of Loan Application.
Authorization that accredits it to exercise activity for own account or another kind of Gestión No Estatal.
I document of Afiliación the Special Regime of Social Security, to be appropriate.

Financings for natural persons Cubans, destined to the purchase in the commercial net of teams of cooking of foods. It is granted in national currency. The mode to use will be the credit line.

Minimal conditions:

Minimal total sum: 300.00 CUP.
Monthly minimal payable total sum: 30.00 CUP.
Time limit of liquidation: 5 years (60 monthly payments)

Guarantees:

For smaller total sums to 5,000.00 CUP a joint and several surety that can cover the monthly payments is accepted.
They accept other guarantees included in the legislation in use.

Documentation: Proof of identity and application form.

 Financings for natural persons Cubans, destined to the purchase in the commercial net of construction materials and the handheld payment of work. They grant themselves in national currency but it enables dispositions of cash in CUC to the exchange rate in use for shopping in stores. The modes to use will be simple credit and credit line.

Minimal conditions:

Minimal total sum: 1,000.00 CUP.
Monthly minimal payable total sum: 50.00 CUP.

Guarantees:

They accept the guarantees included in the legislation in use.

Documentation: Proof of identity, application form and signature of the adhesion contract.

 Tell destined to natural persons Cubans and foreigners, as much in national currency as in freely convertible coin. Constitute a commitment between the customer and the bank to save in fixed terms (3, 6, 12, 24, 36 and 60 months). The extraction of the total sum before the appointed period implies a penalization. They can be individual, indistinct or merged.

Minimal inaugural conditions:

National currency (CUP): 100.00 CUP.
Freely convertible coin (CUC): 200.00 CUC.
Interests will pay once on time the period themselves.

Interests:

They will pay him the interests once on time the period Si the account before the agreed period closes they do not pay the interests of the period that passed.
Of not showing up the customer the day of the duedate recesses himself for similar period and total sum.

Documentation: Proof of identity, application form and signature of the adhesion contract

Certificates of deposits: Time deposits directed to natural persons Cubans and foreigners, as much in national currency as in freely convertible coin. A Certificate Of Deposit is emitted, which can be negotiated and once the subjacent contract of bailment was transferred to someone else before the period in case of needing unpaid liquidity. Constitute a commitment between the customer and the bank to save in fixed terms (3, 6, 12, 24, 36 and 60 months). The extraction of the total sum before the appointed period implies a penalization. They can be individual, indistinct or merged.

Minimal inaugural conditions:

National currency (CUP): 100.00 CUP.
Freely convertible coin (CUC): 500.00 CUC.

Documentation: Proof of identity, application form and signature of the adhesion contract.

Fixed time deposits with payment in advance of interests: Time deposits directed to natural persons Cubans in national currency. Constitute a commitment between the customer and the bank for the saving in a period of 72 months. Operate with a nonnegotiable certificate of deposit. The customer has the passed possibility of cashing interests in advance once at least one year of once the deposit was formalized. The extraction of the total sum before the appointed period implies a penalization. They can be individual, indistinct or merged.

Minimal inaugural conditions: National currency (CUP): 1000.00 CUP.

Interests:

They will pay once on time the period or of way anticipated, if the customer requests it.
If it closes before the agreed period they do not pay the interests of the period that passed.
Of not showing up the customer the day of the duedate recesses himself for similar period and total sum.

Documentation: Proof of identity, application form and signature of the adhesion contract.

 Tell destined to natural persons Cubans associated to a center of linked payment to the subsidiary where the account opens. It consists in the realization of monthly discounts of payroll in total sums agreed on with the customer to thicken a savings account. This alone type of account will be individual.

Minimal conditions:

Opening: 20.00 CUP.
Deposits: The agreed, always multiple of 10.00 and from 20.00 CUP.

Extractions:

In accounts the associated to notebooks they will be able to realize to five (5) extractions, closing he tells her in the fifth extraction. For it it will be considered a natural year, from the opening date of the account.

In accounts the associated to magnetic cards, to accomplish quite a few (4) extractions or payments in the period of a year the moment that it comes true the I take debit charge away, the interest rate of a 2.0 % to a 0.5 % will get modified, during 180 days (6 months).

Interests:

A rate of the 2.0 yearly % with a bonus of the 2.0 % will be applicable if extractions in the 12 previous months have not come true.

Documentation: Proof of identity, application form and signature of the adhesion contract

 Tell destined to natural persons'saving Cubans and foreigners, as much in national currency as in freely convertible coin. It can open for a single headline (place mats) or for over one. In the latter case they can be Indistinct (headlines can operate separately) or United (it takes the united presence of the headlines to operate). They can have an operation for savings passbook or magnetic card.

Minimal conditions:

Initial deposit: 200.00 CUP or 50.00 CUC.
Deposits Extractions: 20.00 CUP 20.00 CUC.
Minimal balance: 50.00 CUP 50.00 CUC.

Interests:

Annual rate of the 0.5 %.

Documentation: Proof of identity, application form and signature of the adhesion contract