When applying for an online loan with APEX BANK, insurance products are mandatory conditions for obtaining the loan.

One of the mandatory requirements for obtaining an online loan is the purchase of a financial insurance policy. This policy serves as security for the fulfillment of the borrower's loan obligations and is an integral part of the loan terms.

Another mandatory requirement for obtaining an online loan is entering into a supplementary life insurance agreement for the borrower, provided by APEX LIFE Insurance Company.

The insurance premiums for both types of insurance are paid using the customer's own funds.

When arranging the supplementary life insurance agreement, APEX BANK acts as an insurance agent. Under the financial insurance policy, the bank acts as the policyholder.

In the event of early full repayment of the online loan, the procedure for refunding the insurance premium depends on the type of insurance product.

Under the financial insurance policy, no refund of the insurance premium for the unused coverage period is provided.

Under the supplementary life insurance agreement, a refund of the unused portion of the insurance premium is available.

To receive the refund, the customer must contact APEX BANK and submit an application. This can be done:
• in person at any bank branch;
• by sending the application to the bank's official email address.

After receiving the application, the bank forwards the documents to the insurance company for review. The refund is processed within up to 10 business days.

At present, customers must submit an application to request a refund. In the future, APEX BANK plans to introduce the option to submit such applications through its mobile application, making the process even more convenient for customers.