Increase of fees for the issuance of cheque books
Effective 1 September 2024, we will be increasing the fees for the issuance of cheque book for Personal and Business accounts.

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Discontinuation of Baiduri Mastercard CashCard and Baiduri Mastercard Auto Direct Prepaid Card (Classic and Executive)
Hire Purchase
  • What is a Baiduri Finance Hire Purchase (HP) about?
    Hire Purchase (“HP”) financing is a facility given to you to part finance the purchase of a Motor Vehicle, Motorcycle, Marine Vessel and Pleasure Craft. Upon approval of the facility, a Hire Purchase Agreement (HPA) shall be entered between you as the Hirer and Baiduri Finance Berhad as the Owner of the financed vehicle. Interest for HP is calculated based on fixed interest rate over the tenure of the facility. Upon full payment of the facility’s outstanding amount, ownership of the vehicle will be transferred to you. HP financing covers a maximum financing period of up to 7 years.
  • What are my obligations when obtaining a Hire Purchase at Baiduri Finance?

    As a Hirer, you are obligated to pay the instalments on a date agreed by both parties, with effect from the commencement date to the final instalment as specified in the HP Agreement and Repayment Schedule. You are also obligated to inform the Finance Company of any changes in your contact details and address (refer to BFB HPA Clause 3.t).

  • What are the fees and charges that I must pay when obtaining a Hire Purchase at Baiduri Finance?

    There are no fees/charges upon HP application. However, if a customer does not pay the agreed monthly repayment amount, fees and charges may apply as per prevailing Schedule of Tariffs. Baiduri Finance Schedule of Tariffs can be downloaded from the Download Centre on Baiduri’s website.

  • How can I make payments for my Baiduri Finance Hire Purchase account(s)?

    • Baiduri Bank Branches
    • Baiduri Finance Branches
    • Any Baiduri Automated Teller Machine/ Cash Deposit Machine (ATM / CDM)
    • Online Banking via Baiduri b. Digital Personal
    • Baiduri Finance Mobile Application
    • Set Up Standing Instruction (SI)
    • Set Up Recurring Billing

  • What if I fail to fulfill my Hire Purchase obligations at Baiduri Finance?

    • If you have any issues with meeting your obligations, contact us as soon as possible to discuss repayment alternatives.
    • If you have any difficulties in servicing your debts, forbearance may be granted subject to the terms and conditions under the provisions of Prudential Treatment of Problem Assets and Accounting for Expected Credit Losses Notice No. BU/N08-2018/58. Forbearance occurs when hirer is experiencing financial difficulty in meeting its financial commitments and Baiduri Finance at its discretion may grant a restructure in payments and/or terms.
    • The consequences of failing to meet your monthly repayments include:
      • Overdue interest is charged at 1.25% per month from due date until the final payment.
      • Repossession of vehicle (Refer to Question 9 for more details)
      • Other forms of action including legal action
    • In the event of death, the Hirer’s personal representative or heir shall comply with the provisions of the HP Agreement.

  • Do I need motor insurance/ coverage for my Hire Purchase at Baiduri Finance?

    Yes, insurance coverage is mandatory. You are required to keep the vehicle insured until full payment of the Hire Purchase is completed (refer to BFB HPA Clause 3.n and Section 25 of HP Order 2006). With a HP account, Baiduri Finance can renew insurance on a yearly basis upon your discretion.

  • What documents do I need to submit to apply for a Hire Purchase?

    For individual

    • Photocopy of valid Identity Card or Passport
    • Photocopy of valid Brunei Driver’s License
    • 3 months’ Salary Slip (6 months for daily paid and foreigner)
    • 3 months’ Bank Statement (6 months for daily paid, pensioner and foreigner)
    • Tenancy Agreement with preceding 12 months Bank Statement where rental income is credited to, if applicable.
    • TAP/SCP Statement or Letter (pensioner and salary by hand only)
    • Employment Letter (not required for Government Sector)
    • Other Evidence of Income

    Non-Individual

    • Photocopy of Certificate of Registration Section 16
    • Photocopy of Form X / Section 17
    • Photocopy of Director(s) ID (Passport if Foreigner)
    • 12 Months of Company’s Statement
    • Letter of Consent
    • Photocopy of Reward Contract / Assisting Contract

    Additional Documents for Sendirian Berhad

    • Photocopy of Director Resolution
    • Photocopy of Guarantor Form
    • Photocopy of Memorandum and Article of Association
    • Photocopy of Allotment of Share
    • Photocopy of Annual Return
    • 1 year Guarantor’s Bank Statement

    Additional Documents Used Vehicle

    • Photocopy of Bluecard
    • Photocopy of Motor Insurance Policy with remaining validity of more than 1 month
    • Photo of Vehicle

  • How and when does repossession of the Baiduri Finance vehicle take place?

    Repossession of the motor vehicle will take place upon a breach of the HP Agreement. A Notice of Intention to Repossess (Fifth Schedule), will be sent to you by giving a grace period of fourteen (14) days. (As mentioned on BFB HPA Clause 5.i and Section 15. (1) or of HP order 2006).

    Upon repossession, Notice After Repossession (Sixth Schedule), will be sent to you by giving a grace period of another fourteen (14) days to allow you to redeem your vehicle (as mentioned on BFB HPA Clause 6.3 and Section 15. (3) of HP order 2006).

    Referring to HP Order 18(1)(a), hirer may redeem at any amount due under the hire-purchase agreement in respect of the period of hiring up to the date of the payment. Should you wish to redeem the vehicle(s) after repossession, all fees, charges and overdue monthly installments must be settled as per specified in the Notice After Repossession (Sixth Schedule).

  • What happens if I fail to meet the requirement after repossession?

    • HP Account shall be ceased/ terminated and transferred to Loss Recovery Department.
    • After the expiration of the Notice After Repossession (Sixth Schedule), the vehicle will be sold through tendering process. The sales proceeds will be used to settle the balance due. However, the Hirer will remain liable for any remaining balance if the sale proceeds are insufficient to settle the balance in full. After covering all losses, the surplus will be refunded.

  • How do I manage my Bluecard with Baiduri Finance?

    The bluecard may be withdrawn by the Hirer at the nearest Baiduri Finance branch at any time. Third party withdrawal may be accepted with the Hirer’s authorization. If the bluecard is not returned within 60 days from date of withdrawal, Baiduri Finance reserves the rights to duplicate the Bluecard and charge your account BND250 for the duplication.

    Should you decide to change your Vehicle Registration Number, bring the original letter of approval of your new Vehicle Registration Number from Land Transport Department to our Bluecard section.

  • How do I renew the Road Tax and Insurance for my vehicle at Baiduri Finance?

    • Baiduri Finance does not conduct any insurance, road tax or underwriting business. However, for added value and convenience, Baiduri Finance provides Hirers with administrative assistance via HP Care which includes:

      • Automated Motor Insurance and Road Tax Renewal Option
      • You have the option to subscribe to our appointed vendor’s Automated Motor Insurance Renewal Service. Your insurance cost will be included in your loan amount which is also subject to interest charges as specified in section 2 above which will increase the total loan amount. Your Motor Insurance will be done for you and delivered to your registered address at your convenience.
      • Motor Insurance and Road Tax Renewal Assistance
      • You have the option to request for assistance at anytime without additional charges. You only have to pay for the motor insurance and road tax renewal fees. You may request for an insurance and road tax renewal quotation via Baiduri Finance Mobile App or by contacting our HP Care Hotline at 7266800.
      • Loan Protection Plan
      • You have the option to get a Loan Protection Plan (MTHP/MRTA) from our appointed vendor. Your insurance cost will be included in your loan amount which is also subject to interest charges as specified in section 2 above which will increase the total loan amount.

    • Should you decide to renew your insurance elsewhere, please provide us a a copy of your new insurance cover note. Ensure the insurance bought has comprehensive motor vehicle cover with sufficient coverage to pay off the loan.
    • You will receive a renewal notification from Baiduri Finance one (1) month before your road tax expires.

  • Can I sell the vehicle during my loan tenure at Baiduri Finance?

    Under the provisions of the Hire Purchase Order 2006:

    You are not permitted to sell the vehicle, however, with the written consent of Baiduri Finance as the rightful owner, you can assign your rights under the hire purchase agreement.

    By assigning your rights, you are transferring the ownership of the car to another party by submitting the application form to Baiduri Finance and is subjected to the terms and conditions as set by Baiduri Finance. The transfer of ownership must be approved by Baiduri Finance and endorsed by Land Transport Department.

  • What if I fully settle my Baiduri Finance Hire Purchase loan before its maturity?

    Settlement Quotation should be obtained from the General Counter before making payment at the Teller Counter. The following Early Repayment/Settlement fee* applies:

    • If the remaining tenure is more than half of the original tenure, 2% of the outstanding amount or maximum BND500, whichever is lower.
    • If the remaining tenure is less than half of the original tenure, 1% of the outstanding amount or maximum BND250, whichever is lower.

    The Ceased Letter shall be collected with the Bluecard after payment is cleared (3-7 working days) at Bluecard and Insurance Centre, Units 16-17, Ground Floor, Sumbangsih Bahagia, Kompleks Perindustrian Beribi, BSB BE1118. You can also request for collection at our BFB Branch in Kuala Belait at your earliest convenience.

  • How do I inform Baiduri Finance if there are changes to my contact details?

    • Update via Baiduri Finance Mobile Application
    • Visit the nearest Baiduri Bank or Baiduri Finance Branch

    Note: It is important for you to inform us of any changes to your contact details to ensure all correspondences will reach you in a timely manner (as mentioned in BFB HPA Clause No. 3.T).

  • Where can I get Baiduri Finance Hire Purchase assistance and redress?

    Visit the nearest Baiduri Finance branch:

    BAIDURI FINANCE HEAD OFFICE
    Units 1 – 3, Ground & 1st Floor,
    Sumbangsih Bahagia, Kompleks Perindustrian Beribi, Gadong BE1118
    Tel No: (673) 244 9666 ext 3
    Fax No: (673) 245 0877

    BAIDURI FINANCE KUALA BELAIT
    Unit 1, Ground Floor, Tang Ching Ying Building,
    Jln Sungai, Kuala Belait KA2331
    Tel No: (673) 333 0570 / 333 0569 / 334 1436
    Fax No: (673) 333 0572

  • Where can I get further information about Baiduri Finance products and services?

    If you require further information on this product, please visit our nearest Baiduri Finance branch or call our Baiduri Finance Helpdesk at 2449666 Ext. 3. You may also visit our website at www.baiduri.com.bn/baiduri-finance or download our Baiduri Finance mobile application on the Apple App Store or Google Play.

  • Other similar facilities/products available

    Consumer Loan

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 7.00% 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 7.00% 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

  • What is the Effective Interest Rate (EIR)/Annualised Profit Rate (APR)?

    Financing tenor is 6, 12, 18, 24, 30, 36, 42, 48, 54 or 60 months only.

    EIR/APR is subject to the financing tenor per the following table:

    Financing Tenor

    Flat Rate

    EIR/APR


    16 months

    7%

    11.90%


    12 months

    7%

    12.68%


    18 months

    7%

    12.87%


    24 months

    7%

    12.91%


    30 months

    7%

    12.88%


    36 months

    7%

    12.83%


    42 months

    7%

    12.76%


    48 months

    7%

    12.68%


    54 months

    7%

    12.59%


    60 months

    7%

    12.51%


  • 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 long does it take to get a conditional approval for the Consumer Loan?

    Applications submitted on HP Online with complete information and documentation before 12 midnight will be processed and given conditional approval on the next working day. In certain cases, approval may take longer if additional information is required.
  • 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 16-17, 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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