DAWN strives to protect and empower our clients by making sure that they are confident in and well-informed about our products and services.
If you are a DAWN client, here are some topics you should know and understand:
1. Know your loan terms & conditions.
Make sure you know and understand the details of your loan. Check your loan card, loan agreement, disbursement receipt (for Group clients), product pamphlet, or talk to a DAWN staff member for information specific to your loan.
Basic terms and conditions for most loans
| Interest rate | 28% per annum or 2.33% per month |
| Fees | 2% of approved loan including social welfare and credit life fund |
| Loan amount | Starting from MMK 200,000 to max. MMK 10,000,000 depending on type of loan. |
| Loan term | 6 to 24 months, depending on loan. |
| Repayment | Monthly principal and interest payments. Monthly interest + principal on full-paid date for seasonal loans. |
| Pre-payment | Allowed. Ask DAWN for details. |
| Compulsory savings | 3% – 5% of loan amount depending on loan and loan cycle. 14% per annum or 1.167% per month savings interest. |
| Guarantor | Group guarantee for group members, plus additional 1 or 2 for Business Loan clients. 1 or 2 for Individual Loan clients, depending on loan size. |
2. Your personal information is protected.
DAWN treats your personal information as private and confidential. We will not share it with any third parties, except to a credit bureau or similar data-sharing platform to prevent over-indebtedness, or to comply with requirements from government authorities.
Reminder: If you are a group leader, you also have a responsibility to keep your group members’ information safe and private.
3. Protect yourself from deceptive marketing and fraud.
DAWN will never force or deceive you into taking our products. Protect yourself and watch out for people or organizations who are:
- Knowingly providing products that clients cannot afford or are unsuited to their circumstances and needs.
- Purposely lowering stated product prices or disaggregating interest to make their products seem less expensive.
- Offering clients of other MFIs larger loans without doing a thorough repayment capacity check.
- Marketing products in front of branches of other MFIs, especially when they actively discredit other MFIs’ pricing or credit methodology as “more expensive.”
- Bothering customers repeatedly, soliciting customers and following up every day, promoting their product as limited time offer.
Also be aware of imposters or fake accounts claiming to be DAWN. We are very disciplined about our loan evaluation process and will never approve loans over social media, nor ask you to transfer money. If you encounter anyone or any pages representing themselves falsely as DAWN, please contact us immediately so we can take action.
Your feedback is important to us.
Your feedback is important to us and helps us improve how we serve you. If for any reason you are not satisfied, let us know via the following channels. Our branch office hours are Monday to Friday, 9:00 a.m. to 5:30 p.m.
- Call or send SMS to our Complaints Hotline: 09425753077
- Directly inform to your branch manager, by phone or at the branch.
- Write a physical note for the Complaints & Suggestions Box in the branch.
- Message us on our Facebook page @DAWNMicrofinance.
- Email feedback@mig.dawn.com.mm
5. You have the right to fair and respectful treatment.
DAWN promises to be respectful and polite in all our interactions with you, from the loan application to disbursement to collections, and every other time. If you feel you have been mistreated, please tell us right away and call 09425753077 or via our other complaint channels, so we can address the problem.
Above all, DAWN’s first priority is the health and safety of our customers. During this pandemic, DAWN is continuing to implement the necessary precautions, actively monitoring the situation and fully cooperating with authorities.
If you have any questions or concerns about any of the above or other matters, please contact us.
Thank you for choosing DAWN as your reliable financial partner!