Home Loan

Promotion Plan for residential mortgage

Interest Plan (a) Good performance Customers:

Interest will be charged 13% for the first year and will drop o.5% for each consecutive following year up to 11% if customer can show good performance. Interest will be charged 11% flat rate till customers can show good performance.

Minimum loan value must be 15 million MMK. Interest will be changed to 13% when customer makes default at any stage. Customer will have the right to apply this promotion plan after one year interest paid with 13% again.

*Every applicant will be eligible for this plan. Furthermore, we will offer this plan existing home loan customer.

Interest Plan (b) LTV ratio:

If the loan to value (assessor’s recommended value) ratio is less than or equal 60%, interest will be charged 12%. If the customer can show good performance, interest will be charged 11% after 3 years.

Minimum loan value must be at least 50 million MMK. Interest will be charged 13% when customer makes default. Customer will have the right to apply this promotion plan after one year interest paid with 13%.

*Every applicant will be eligible for this plan.

Interest Plan (c) income Vs. Monthly payment:

If the monthly repayment of the customer for the home loan is less than or equal of 30% of his/her monthly net income, interest will be charged on 12%. If the customer can show good performance, interest will be charged 11% after 3 years.

Minimum loan value must be at least 30 million MMK. Interest will be charged 13% when customer makes default. Customer will have the right to apply this promotion plan after one year interest paid with 13%.

*Every (employee) applicant with any bank payroll will be eligible. For self-employed applicant with stable regular income must make pre-paid installment for one month.

Interest Plan (d) prepaid installment:

If the customer makes prepaid installment (for 2 months), interest will be charged with 12% for the first 3 years and if the customer can show good performance, interest will be charged 11% after 3 years.

Interest will be charged 13% when customer makes default. Customer will have the right to apply this promotion plan after one year interest paid with 13%.

*Every applicant will be eligible for this plan.

Interest Plan (e) newly married couples:

If the customers are newly married couple and if they have regular income, interest will be charged 12% for the first 3 years and if they can show good performance, interest will be charged 11% after 3 years.

Minimum loan value must be 20 million MMK. Interest rate will be changed to 13% when customers make default during credit terms. Customer will have the right to apply this promotion plan after one year interest paid with 13%.

*Every (employee) applicant with any bank payroll will be eligible. For self-employed applicant with stable regular income must make pre-paid installment for one month.

Q & A

How Long will the whole process take?

It will take approximately 14 working days to process.

How much money do I need to make to qualify?

We have provided a calculator in our website. This allows you to work out the maximum credit limit that you can apply for, your monthly repayment, total interest that you have to pay based on your credit limit and the credit terms that you can apply for (based on your age and income).

Where can I get the product information?

Our KBZ web page and selected KBZ Branches with their corresponding phone numbers.

Can we use a combined salary to apply?

Yes you certainly can.

How long will it take to pay my loan back?

It will depend on your down payment and your monthly income. We will provide the loan from 3 to 15 years based on property value.

Do I need collateral?

The property itself is collateral. No further collateral will be needed.

What’s the frequency of the payments and at what interest rate?

Monthly repayment method will be applied. The interest rate is to be confirmed by CBM.

Want to open this account?

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(+95) 1-2306214

(+95) 9-444000700

(+95) 9-444000800

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