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Discontinuation of Baiduri Mastercard CashCard and Baiduri Mastercard Auto Direct Prepaid Card (Classic and Executive)
Hire Purchase
  • What is Hire Purchase?
    Hire Purchase allows you to buy a vehicle by paying fixed monthly instalments over an agreed financing period.

    During the financing period, Baiduri Finance remains the legal owner of the vehicle, while you have possession and the right to use the vehicle in accordance with the Hire Purchase Agreement. Ownership transfers to you only after all amounts due under the Hire Purchase Agreement have been fully settled.

    The maximum financing period is up to 7 years, subject to approval and the vehicle’s age at the end of the financing period.
  • What do I get under a Hire Purchase Agreement?
    Under a Hire Purchase Agreement, you get:

    • Use of the vehicle throughout the financing period
    • Fixed monthly instalments for the agreed financing period
    • Ownership of the vehicle after full settlement of all amounts due
  • What are the key features of Hire Purchase?
    Key features include:

    Financing period
    Up to 7 years.

    Fixed monthly instalments
    Instalments are fixed and include principal and interest (term charges).

    Ownership structure
    Legal ownership remains with Baiduri Finance until full settlement.

    Early settlement
    Early settlement is allowed, with a rebate on unearned interest calculated in accordance with the Hire Purchase Act (Chapter 292). Fees may apply in accordance with Baiduri Finance’s General Tariffs.

    Payment channels
    Instalments may be paid through the Baiduri Finance Mobile App, online banking, or by setting up standing instructions from your bank account.
  • What fees and charges apply?
    Fees and charges may apply, including:

    • Interest (term charges)
    • Late payment charges on overdue instalments
    • Early settlement fees, where applicable
    • Repossession, storage, recovery and sale-related costs, where applicable

    Full details are set out in Baiduri Finance’s General Tariffs, available on the website and at branches.
  • Who can apply for Hire Purchase?
    Hire Purchase is available to Brunei citizens, permanent residents, and foreigners aged 18 and above, with a valid Brunei driving licence and employment.

    All applications are subject to credit and income assessment.
  • What vehicles are eligible?
    Hire Purchase is available for a wide range of new and used vehicles, including:

    • Passenger vehicles (petrol, electric, or hybrid)
    • Commercial vehicles
    • Motorcycles and boats

    Vehicle eligibility is subject to assessment and approval.
  • What documents are required?
    The documents required depend on whether the applicant is an individual or a business entity and may include identification documents, income and employment details, bank statements, and business or company documents (where applicable).

    Additional documents may be requested during the assessment process.
  • What are my obligations under the Hire Purchase Agreement?
    You are required to:

    • Pay your monthly instalments on time throughout the financing period
    • Keep your personal and contact details up to date
    • Maintain comprehensive insurance for the vehicle throughout the financing period
    • Take reasonable care of the vehicle
    • Notify Baiduri Finance promptly of any loss, accident, or material damage to the vehicle
  • Can someone else make payments on my behalf?
    A third party may assist with instalment payments. However:

    • Payment by a third party does not give them ownership or rights over the vehicle.
    • Baiduri Finance will communicate only with the hirer unless formal authorisation has been provided and accepted.
    • Any transfer or assignment of the Hire Purchase Agreement requires prior approval.
  • What happens if I have difficulty making payments?
    If you expect difficulty in meeting your instalments, you should contact Baiduri Finance as early as possible. Any repayment arrangement or restructuring is subject to assessment and approval.

    If instalments remain unpaid, Baiduri Finance may take action in accordance with the Hire Purchase Act (Cap. 292) and the Hire Purchase Agreement.
  • When can repossession occur?
    Repossession may occur if the instalments remain unpaid and refinancing is not approved after Baiduri Finance has issued the required statutory notice and the applicable notice period has expired in accordance with the Hire Purchase Act (Cap. 292).
  • What happens after repossession?
    After repossession, Baiduri Finance will issue a written notice giving you at least 14 days from the date the notice is served to settle the outstanding amount and redeem the vehicle before it may be sold.

    In the event that payment is not made within the period stated in the notice, Baiduri Finance may proceed to sell the vehicle to recover the outstanding balance:

    • If the sale proceeds are less than the amount owed, you remain responsible for the shortfall.
    • If there is a surplus after settling all amounts due, the excess will be refunded to you.
  • How can I apply?
    You may apply for Hire Purchase at any Baiduri Finance branch, including:

    • Sumbangsih Bahagia, Beribi Branch
    • Kuala Belait Branch
HIRE PURCHASE PLUS
  • What is Hire Purchase Plus (“HP Plus”)?
    HP Plus is a Hire Purchase arrangement with a residual value. It allows you to buy a vehicle by paying lower fixed monthly instalments over an agreed financing period, with a final amount (residual value) payable at the end.

    During the financing period, Baiduri Finance remains the legal owner of the vehicle, while you have possession and the right to use the vehicle in accordance with the HP Plus Agreement. Ownership transfers to you only after all amounts due under the HP Plus Agreement, including the residual value, have been fully settled.

    The maximum financing period is up to 7 years, subject to approval and the vehicle’s age at the end of the financing period.
  • What is a residual value?
    A residual value is a portion of the vehicle price that is not repaid through monthly instalments and is instead deferred to the end of the financing period. Because part of the price is deferred, monthly instalments under HP Plus are lower than under standard Hire Purchase.

    As a result, the total amount payable under HP Plus may be higher than under standard Hire Purchase.

    At the end of the financing period, the residual value must be settled. You may pay the residual value in full, or apply to refinance the residual value, subject to eligibility and approval. Approval depends on your financial situation at that time and cannot be guaranteed.
  • What do I get under an HP Plus Agreement?
    Under an HP Plus Agreement, you get:

    • Use of the vehicle throughout the financing period
    • Lower monthly instalments compared to standard Hire Purchase
    • Ownership of the vehicle after full settlement of all amounts due, including the residual value
  • What are the key features of HP Plus?
    Key features include:

    Financing period
    Up to 7 years.

    Fixed monthly instalments
    Instalments are fixed and include principal and interest (term charges).

    Residual value
    A portion of the vehicle price is deferred to the end of the financing period. This reduces monthly instalments but requires a lump-sum payment at maturity.

    Ownership structure
    Legal ownership remains with Baiduri Finance until full settlement.

    Early settlement
    Early settlement is allowed, with a rebate on unearned interest calculated in accordance with the Hire Purchase Act (Chapter 292). Fees may apply in accordance with Baiduri Finance’s General Tariffs.

    Payment channels
    Instalments may be paid through the Baiduri Finance Mobile App, online banking, or by setting up standing instructions from your bank account.
  • What fees and charges apply?
    Fees and charges may apply, including:

    • Interest (term charges)
    • Late payment charges on overdue instalments
    • Early settlement fees, where applicable
    • Repossession, storage, recovery and sale-related costs, where applicable

    Full details are set out in Baiduri Finance’s General Tariffs, available on the website and at branches.
  • Who can apply for HP Plus?
    HP Plus is available to Brunei citizens, permanent residents and foreigners aged 18 years and above who hold a valid Brunei driving licence and are currently employed.

    Approval is subject to Baiduri Finance’s credit and affordability assessment, which considers income, financial commitments, employment stability and credit history.

    Please note that meeting the minimum requirements for HP Plus does not automatically guarantee approval. All applications are subject to BFB’s full credit and income assessment.
  • What vehicles are eligible?
    HP Plus is available for a wide selection of new passenger vehicles. Hybrid models are eligible , while fully electric vehicles are currently not supported under this facility.
  • What documents are required?
    The documents required depend on whether the applicant is an individual or a business entity and may include identification documents, income and employment details, bank statements, and business or company documents (where applicable).

    Additional documents may be requested during the assessment process.
  • What are my obligations under the HP Plus Agreement?
    You are required to:

    • Pay your monthly instalments on time throughout the financing period
    • Plan for and settle the residual value at the end of the financing period, either by full payment or approved refinancing
    • Keep your personal and contact details up to date
    • Maintain comprehensive insurance for the vehicle throughout the financing period
    • Take reasonable care of the vehicle
    • Notify Baiduri Finance promptly of any loss, accident, or material damage to the vehicle
  • What happens if I have difficulty making payments?
    If you expect difficulty in meeting your instalments, you should contact Baiduri Finance as early as possible. Any repayment arrangement or restructuring is subject to assessment and approval.

    If instalments remain unpaid, Baiduri Finance may take action in accordance with the Hire Purchase Act (Cap. 292) and the HP Plus Agreement.
  • Can someone else make payments on my behalf?
    A third party may assist with instalment payments. However:

    • Payment by a third party does not give them ownership or rights over the vehicle.
    • Baiduri Finance will communicate only with the hirer unless formal authorisation has been provided and accepted.
    • Any transfer or assignment of the HP Plus Agreement requires prior approval.
  • What happens at the end of the financing period?
    At the end of the financing period, the residual value described in Q2 above becomes due. You must either pay the residual value in full or apply for refinancing, subject to approval.
  • Can I return the vehicle at maturity instead of paying the residual amount?
    For HP Plus facilities approved from 1 March 2026 onwards, returning the vehicle at maturity is not available as a settlement option. At maturity, you must either pay the residual value in full or apply for refinancing, subject to approval.

    For HP Plus facilities approved before 1 March 2026, the original terms of the agreement will continue to apply.
  • What happens if I cannot pay the residual value and refinancing is not approved?
    If the residual value is not settled and refinancing is not approved, the account will be treated as overdue and recovery action may be taken in accordance with the Hire Purchase Act (Cap. 292).

    If you expect difficulty in settling the residual value, you are encouraged to contact Baiduri Finance early so your situation can be assessed.
  • When can repossession occur?
    Repossession may occur if the instalments or the residual value remain unpaid and refinancing is not approved after Baiduri Finance has issued the required statutory notice and the applicable notice period has expired in accordance with the Hire Purchase Act (Cap. 292).
  • What happens after repossession?
    After repossession, Baiduri Finance will issue a written notice giving you at least 14 days from the date the notice is served to settle the outstanding amount and redeem the vehicle before it may be sold.

    In the event that payment is not made within the period stated in the notice, Baiduri Finance may proceed to sell the vehicle to recover the outstanding balance:
    • If the sale proceeds are less than the amount owed, you remain responsible for the shortfall.
    • If there is a surplus after settling all amounts due, the excess will be refunded to you.
  • How can I apply?
    You may apply for HP Plus at any Baiduri Finance branch, including:
    • Sumbangsih Bahagia, Beribi branch
    • Kuala Belait branch
HP ONLINE

baiduri finance consumer loan

  • What is Consumer Loan?

    Consumer Loan allows you to purchase consumer goods and services through our affiliated vendors and repay the amount in monthly instalments.

    Upon successful application, the customer will be required to sign a Consumer Loan Agreement with Baiduri Finance. Interest is charged based on a fixed interest rate over the tenor of the loan.

  • Where can I obtain a list of affiliated vendors?

    You can obtain the list of affiliated vendors from our website at https://www.baiduri.com.bn/baiduri-finance/financing/consumer-loan.

  • What is the minimum and maximum financing tenor?

    The minimum financing tenor is six (6) months and the maximum financing tenor is sixty (60) months.

  • What is the minimum and maximum financing amount?

    The minimum financing amount is BND500 and the maximum financing amount is BND20,000.

  • What is the financing rate?

    Interest will be charged at 6.00% flat per year.

  • What fees and charges do I need to pay?

    • A one-time administrative and processing fee of BND30 upon approved application.
    • Interest charges of 6.00% flat rate per year.
    • Overdue interest of 1.25% per month will be charged on the late instalment amount for the overdue period.
    • Charges of BND30 shall be levied on the scheduled payment date if a standing instruction for payment is unsuccessful due to insufficient funds in your account.
    • Other fees and charges that may be applicable.

    For the updated list of fees and charges, please refer to Baiduri Finance General Tariffs on https://www.baiduri.com.bn/baiduri-finance/download- centre

  • Does Baiduri Finance require the consumer goods to be inspected?

    Yes, the consumer goods will be inspected during the loan application stage at the vendor’s premise. Thereafter, no further inspection is required.

  • Is insurance/takaful coverage mandatory?

    Insurance/takaful coverage is not mandatory. However, for added peace of mind, you may opt to insure and protect your loan with coverage against Death and Total Permanent Disability (TPD), which can be purchased from our insurance panel or your preferred insurance provider.

  • Who can apply for the Consumer Loan?

    Brunei Citizens and Permanent Residents of 18 years of age and above who meet the Total Debt Service Ratio (TDSR) requirements are eligible to apply.

  • Do I need to assign my salary to Baiduri Bank to apply for Consumer Loan?

    No, you do not need to assign your salary to Baiduri Bank to apply for the Consumer Loan.

  • How do I apply for the Consumer Loan?

    You may apply for the Consumer Loan via Baiduri Finance HP Online at https://hp-online.Baiduri.com.bn/coweb/. Select ‘Consumer Loan’ as your loan type and proceed to complete the online application by providing the required information and uploading the necessary documents. Please provide complete and accurate information and documents to ensure a smooth process and prevent delays.

    You may check the status of your application by logging into Baiduri Finance HP Online and navigating to the ‘Account Status Enquiry’ page. You may be provided with a conditional approval, which includes information such as your maximum loan entitlement. You can retrieve your Reference Number and Quick Response (QR) code from Baiduri Finance HP Online, which you may bring to any of our affiliated vendors to complete the application process.

    You will also receive a SMS notification from Baiduri Finance with a Consumer Loan Reference Number. A sample SMS is as follows:

    From: BAIDURIFIN
    Your application $APP_REF$ can proceed to the next step. Log in to Baiduri Finance HP Online to access your loan entitlement and QR code. Please present your code to the seller or visit Baiduri Finance within its validity period of 14 days. For more info, please contact Baiduri Customer Helpline at 2449666

    Please note that the Reference Number and QR Code can only be used once and will expire fourteen (14) calendar days from the date of the conditional approval.

    If you have any difficulty applying online, you may bring the required documents to any of our affiliated vendors who will be happy to assist you with the process.
  • What documents do I need to submit with my application?

    To apply for the Consumer Loan, you will need to submit the following documents:
    • Original and valid Identity Card
    • Latest three (3) months salary slip
    • Latest three (3) months bank statement
    • Quotation of consumer goods from an affiliated vendor
  • How will I know if my loan is approved after presenting my QR Code to the affiliated vendors?

    After presenting your QR code, our affiliated vendor will submit your loan application to Baiduri Finance. Once your loan application is approved, you will receive a SMS in the following format:

    Your application $APP_REF$ is approved. The seller or Baiduri Finance will contact you soon for the next steps.
  • What documents will I receive upon successful application?

    Upon successful application, Baiduri Finance will send the following documents to you via registered mail:

    • A copy of signed Consumer Loan Agreement; and
    • A Repayment Schedule that provides information such as account number, cash price, loan amount, term, flat rate, principal opening balance, term charges, principal amount, interest amount, instalment amount, principal closing balance and due date.
  • What if I want to cancel my Consumer Loan application after it has been approved?

    If you cancel your application after it has been approved but before the loan amount is disbursed to the vendor, you will not incur any fees and charges. The loan amount will be disbursed to the vendor one (1) calendar day after the loan agreement is signed. If you would like to cancel your application, we advise doing so before the loan agreement is signed.

    If you cancel your application after it has been approved and the loan amount is disbursed to the vendor, you must settle the loan and pay the early repayment/settlement fee.

    The early repayment/settlement fee will be calculated as follows:

    Remaining tenor

    Maximum fees


    More than half of the original tenor

    2% of the outstanding amount or
    maximum BND500, whichever is lower


    Less than half of the original tenor

    1% of the outstanding amount or
    maximum BND250, whichever is lower


  • How can I make payment for my Consumer Loan?

    There are multiple ways for making payments including via:

    • Online banking
    • Any Baiduri bank or Baiduri Finance branch
    • Any Baiduri Automated Teller Machines (ATM) or Cash Deposit Machines (CDM)
    • Standing Instructions (SI)
    • Baiduri Finance Auto Direct Card

  • What happens if I do not pay the monthly instalments?

    The consequences of failing to meet your monthly repayments include the following:

    • If you are late by more than seven (7) days for any payment due, it will be considered late. Overdue interest of 1.25% per month will be charged on the late instalment amount for the overdue period.
    • Charges of BND30 shall be levied on the scheduled payment date if a standing instruction for payment is unsuccessful due to insufficient funds in your account.
    • Repossession will not take place. However, when there is a breach of the Consumer Loan Agreement, you will receive a Letter of Demand asking for you to settle all overdue instalments, fees, and charges within the period stipulated in the said Letter of Demand.
    • Legal action will be taken if you fail to respond to the Letter of Demand. The missed repayments and legal action taken against you may be reflected in your credit score, which may affect the outcome of your future financing applications.
  • What if I want to fully settle the loan before its maturity?

    You can obtain a Settlement Quotation at a fee of BND30 from Baiduri Finance Sumbangsih branch or Kuala Belait branch before making payment at the teller counter.

    The early repayment/settlement fee will be calculated as follows:

    Remaining tenor

    Maximum fees


    More than half of the original tenor

    2% of the outstanding amount or
    maximum BND500, whichever is lower


    Less than half of the original tenor

    1% of the outstanding amount or
    maximum BND250, whichever is lower


    The Clearance Letter must be collected within three (3) to seven (7) working days after payment is cleared from the Bluecard and Insurance Centre at Units 1-3, Ground Floor, Sumbangsih Bahagia, Kompleks Perindustrian Beribi, BE1118. You can also request for collection at our Baiduri Finance Kuala Belait at your convenience.
  • What is the method of calculating the loan balance upon early settlement?

    Method of calculating the loan balance (LB) upon early settlement shall be calculated by applying the formula*:
    LB = [TPLA + TTC] – [TAAP + R]

    Where:
    LB = Loan balance to be paid by you as at the date of early full repayment (excluding early repayment / settlement fee)
    TPLA = Total Principal Loan Amount (also referred to as ‘Total Amount Financed”)
    TTC = Total Term Charges (total interest charges for the entire duration of the consumer loan agreement)
    TAAP = Total Amount Already Paid by you as at the date of early full repayment
    R = Rebate (Refund of remaining term charges given to you for early repayment)

    Note:
    R is derived by applying the formula:
    R = [(A – B)/A] x C

    Where:
    A = The duration of the consumer loan instalment repayment period expressed in months.
    B = The total instalment paid includes part of a month, the partial month shall be deemed as a whole month)
    C = TTC

    * Reference source – Hire-Purchase Order, 2006, Section 13(2)
  • Where can I get further information?

    If you require further information, please visit your nearest Baiduri Finance branch or call Baiduri Customer Helpline at 2449666. You may also visit our website at www.baiduri.com.bn/baiduri-finance or download the Baiduri Finance Mobile App from the App Store or Google Play Store.
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Important update
19 September 2023

We would like to inform you that with effect from 31 October 2023, Business i-Banking service will no longer be operational, and this will be replaced with our new Baiduri b.Digital Business service.

If your company has not transitioned to b.Digital Business, please ensure that every existing user provides the following by 8 October 2023 through the Business i-Banking Inbox:
  • User’s full name
  • User’s valid Identification Card (IC) or Passport
  • User’s mobile number
  • User's company assigned email address (General company email is not accepted e.g., [email protected])

Alternatively, you can complete the b.Digital Business Amendment Form and submit the form(s) directly to Baiduri Digital Hub, Ground Level, Baiduri Bank Headquarters.

Every user will receive a notification email at their registered email address, once they have been migrated and activated on the b.Digital Business service.

Companies who have not moved to b.Digital Business after 31 October 2023 can re-apply as a new subscriber to the b.Digital Business service. This will require additional documentations to be submitted as part of the application. Refer “Required Documents” here.

Important notice: Our Business i-Banking service will be deactivated soon. To ensure continued access and a smooth transition to the new Baiduri b.Digital Business, please provide your full name, IC, email address and mobile number via Business i-Banking Inbox. If we do not receive updated details from all authorised users, your company will not be migrated to the new platform and a fresh application will be required. For assistance, contact us at [email protected] or call 2268 637/8/9 during business hours. Thank you for your cooperation.

To strengthen our online security measures, effective 8 January 2024, we will introduce the cooling period feature on our Baiduri b.Digital Personal web and mobile app to prevent unauthorised access.

Click here for more information.

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