Notice
Please be advised that the Baiduri Finance HP Care Terms and Conditions have been updated and will take effect from 15 October 2023.

Key Features

EASY PAYMENT CHANNELS


Benefits

A financing solution that helps you care for your vehicle. Ranging from car servicing packages, repairs, paintwork to tyres and accessories, our authorised partners will have all your vehicle needs covered.

  • Online application and approval
  • Loans from BND500 to BND20,000
  • Tenor from 6 months to 60 months
  • Conditional approval within 24 hours
  • Eligibility Criteria
  • Required Documents
  • Fees & Charges
  • Terms & Conditions
  • FAQs
  • Eligibility Criteria

    Eligibility Criteria

    1. Existing Baiduri Finance Hire Purchase account holder
    2. Minimum age of 18 (at the point of application) up to maximum 60 years old (at the end of loan tenor)
    3. The applicable consumer goods are: 

    • Car service package
    • Car body repairs
    • Car spare parts
    • Car paints
    • Car wrapping
    • Car tyres
    • Car rims
    • Bicycles
    • All-terrain vehicles (ATVs)

  • Required Documents

    Required Documents
    1. Original and valid Identity Card
    2. Latest 3 months salary slip
    3. Latest 3 months bank statement
    4. Quotation of consumer goods from an affiliated vendor
  • Fees & Charges

    Fees & Charges

    1. A one-time administrative and processing fee of BND30 upon approved application
    2. EIR/APR is subject to the financing tenor as per the following table:

    Financing Tenor

    Flat Rate

    EIR/APR

    6 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%

    3. Overdue interest of 1.25% per month will be charged on the late instalment amount for the overdue period
    4. 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
    5. Other fees and charges that may be applicable

  • Terms & Conditions

    TERMS & CONDITIONS

    1. TERM. The total amount of the Borrowed Money, including principal and interest, shall be due and payable by the number of monthly repayments as specified in the Repayment Schedule attached hereto (hereinafter known as the “Repayment Schedule”). 

    2. PURPOSE. The Borrower intends to procure and/or obtain products and/or services from a service provider and the Borrower has applied for a loan from the Lender to assist to pay or settle the fees due and payable to the said service provider. 

    3. DISBURSAL. The Lender shall release and pay the Borrowed Money or any part thereof directly to the service provider upon the Lender’s receipt of the invoice issued by the said service provider. 

    4. PAYMENTS. The Borrower agrees to repay the Borrowed Money to the Lender commencing on the 28th day of each month as specified in the Repayment Schedule and thereafter on the same day of each and every succeeding month. All payments made by the Borrower shall be first applied to any accrued interest and second to the principal balance. 

    5. LATE PAYMENT. If the Borrower is late by more than 7 days for any payment due, it shall be considered late. If a payment is late, the Borrower shall be charged late payment interest at the rate of 1.25% per month. 

    6. ACCELERATION. The Lender shall have the right to declare the Borrowed Money to be immediately due and payable on demand, including interest owed, if any of the events are to occur:

    1. Default. If the Borrower should default on any of the conditions of this Agreement; or
    2. Fraud. If the Borrower committed any fraud to obtain this loan.

    7. DISCLOSURE OF INFORMATION. The Lender is hereby irrevocably authorized by the Borrower to disclose any personal or other information whatsoever regarding the Borrower, any information regarding the status and balances of the Borrower’s accounts, the outstanding balance of the Borrowed Money due and payable and any information relating to or in connection with the Borrower’s account, to any or all of the following : 

    1. any person participating in the provision of services to the Lender (including, but not limited to, debt collection, legal , accounting, auditing, printing or mailing [of cheque book, passbook, stationery or other documents], management, repossession, insurance, delivery, electronic and investigation services) whether in Brunei Darussalam or outside Brunei Darussalam, under or in connection with this Agreement or the enforcement thereof;
    2. the police or other public officers conducting an investigation in connection with any offence or suspected offence;
    3. the Brunei Association of Banks, other banks, finance companies, financial institutions or insurance credit or charge card companies;
    4. the Ministry of Finance and Economy or any other person, entity or authority, having jurisdiction over the Borrower, any court of law, in Brunei Darussalam or elsewhere for any purpose whatsoever;
    5. any insurer, guarantor or provider of security in relation to the Borrower or any account(s), or the auditor of the Borrower or any member, partner, director or shareholder of the Borrower;
    6. any company body or authority or party to whom the Lender is associated with (including the parent or holding company, subsidiaries or associated or related companies, Baiduri Bank Berhad), the Lender’s head office, branches, representative offices in Brunei Darussalam or overseas, for any purpose or purposes whatsoever;
    7. any association or body of which the Lender is a member of.

    The Borrower hereby irrevocably consents to the above disclosure of information and confirms that the Lender shall be under no liability for disclosing or furnishing such information whether before, on or after the date of this Agreement. For more details, visit the Lender’s privacy policy page which is located at www.baiduri.com or request for a physical copy of the Lender’s privacy policy from the Lender. 

    8. SEVERABILITY. If any provision of this Agreement or the application thereof shall, for any reason and to any extent, be invalid or unenforceable, neither the remainder of this Agreement nor the application of the provision to other persons, entities, or circumstances shall be affected, thereby, but instead shall be enforced to the maximum extent permitted by law. 

    9. COSTS AND EXPENSES: The Borrower shall pay to the Lender all costs of collection, including reasonable attorney's fees, the Lender incurs in enforcing this Agreement. 3 HP97 (1,03/06/2023) 

    10. GOVERNING LAW. This Agreement shall be construed and governed by the laws of Brunei Darussalam (“Governing Law”).

  • FAQs

    frequently asked questions

    1. What is Consumer Loan?

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

    The applicable consumer goods are:

    • Car service package
    • Car body repairs
    • Car spare parts
    • Car paints
    • Car wrapping
    • Car tyres
    • Car rims
    • Bicycles
    • All-terrain vehicles (ATVs)

    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.

    2. 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.

    3. What is the minimum and maximum financing tenor?

    The minimum financing tenor is 6 months and the maximum financing tenor is 60 months.

    4. What is the minimum and maximum financing amount?

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

    5. What is the financing rate?

    Interest will be charged at 7.00% flat per year.

    6. 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 www.baiduri.com.bn/download-centre/tariff-documents.

    7. 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

    6 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%

    8. 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.

    9. 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.

    10.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.

    11. 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.

    12.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 ensure to 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 visiting the ‘Account Status Enquiry’ page. If there are no issues, you will be provided with a conditional approval, which tells you your maximum loan entitlement. Baiduri HP Online will display a Reference Number and Quick Response (QR) code, 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

    We are delighted to inform you that your Consumer Loan Application [insert reference number] was granted Conditional Approval. Log on to Baiduri Finance HP Online to find out your maximum loan entitlement. You will need to show your Reference No. and/or QR Code to any of our approved merchants to proceed with your purchase. For more information, contact Baiduri Finance Helpdesk at 2449666 ext 3. Please note that the Reference Number and QR Code can only be used once and will expire 14 calendar days from the date of the conditional approval. If you have difficulty applying online, you may bring the required documents to any of our affiliated vendors and they will take you through the process.

    13. 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 3 months salary slip
    • Latest 3 months bank statement
    • Quotation of consumer goods from an affiliated vendor

    14.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.

    15. 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.

    16. 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 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

    The Clearance Letter must be collected within 3 to 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.

    20. 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)

    21. Where can I get further information?

    If you require further information, please visit your nearest Baiduri Finance branch or call our Helpdesk at 2449666 ext. 3. 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.

Important notice: We have updated the Baiduri b.Digital Personal mobile app on 21 August 2023.

If you have not logged in to your mobile app lately, you will be required to update the app when you open it.

If you have updated the app but have forgotten what your User ID is, you can retrieve it via one of the following:
• Visit Digital Hub at ground level, Baiduri Bank Headquarters
• Visit your nearest Baiduri Bank branch
• Call our 24-hour Customer Helpline at 2449666

If you have forgotten your password, you can reset it through the Baiduri b.Digital Personal web platform through the “Forgot Password” feature.

If you need further assistance, click here for a guide.
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