Interest Saving Loan Promotion

Interest Saving Loan (“this Promotion”) Terms and Conditions:

1. Term 
1.1 This Promotion begins on 10 April 2020 and ends on 31 July 2020, both dates inclusive (the “Promotion Period”).
2.  Eligibility
2.1 2.1 This Promotion is open to new applications, re-loans or balance transfers from other financial institutions.
2.2. To be eligible, applicants must meet the following criteria (‘Eligible Applicants’):
  • apply for a Personal Loan or Consolidation loan (including transfers and re-loans) during the Promotion Period; and
  • are full-time employees of the Brunei Government, semi-Government organisations, Brunei Shell Petroleum and subsidiaries, or are full-time and permanent employees of any private sector companies;
  • are Brunei citizens or permanent residents;
  • Have a minimum monthly net income of BND1,000
2.3 To enjoy this Promotion, the minimum approved loan amount must be BND5,000.
2.4 Assignment of salary to the Bank is compulsory.
2.5 Approval of loan application is subject to the Bank’s credit assessment policies.
3. Offer
3.1 Eligible Applicants will be entitled to an Effective Interest Rate (EIR) as low as 5.5% per annum, 24-hour approval and shopping rewards under this Promotion.
3.2 Eligible Applicants will be entitled to the following:
  1. For Personal Loans:
    • EIR of 5.5% p.a. for successful transfers from another financial institution between 10 April and 10 May 2020 only.
    • EIR of 6% p.a. for successful new applications and re-loans between 10 April and 31 July 2020, as well as successful transfers between 11 May and 31 July 2020.
  2. For Consolidation Loan:
    • EIR of 6.5% for successful new applications, re-loan and transfers during the Promotion Period.
3.3 All applications must be received by the Bank before the end of the respective offer dates to qualify for the offers.
3.4 Effective Interest Rate quoted above is floating and pegged to the Bank’s Prime Lending Rate (PLR). Any change in PLR will result in a change in the applicable interest rate.
3.5 24-hour approval of loan application is subject to complete documentation at the time of application.
3.6 Successful Applicants will be entitled to tiered shopping rewards based on table below. Rewards will be given in the form of shopping vouchers.

Approved Loan Amount Value of shopping vouchers
BND5,000 – BND15,000 BND30
Above BND15,000 - BND35,000 BND40
Above BND35,000 – BND55,000 BND50
Above BND55,000 – BND75,000 BND80
Above BND75,000 – BND100,000 BND100
Above BND100,000 – BND150,000 BND120
3.7 Shopping rewards under this Promotion are subject to:
  • Minimum approved loan amount of BND5,000 and capped at a maximum value of BND100,000 for Personal Loan
  • Minimum approved loan amount of BND10,000 and capped at a maximum value of BND150,000 for Consolidation Loan
4. General
4.1 This Promotion is governed by Baiduri Bank’s terms and conditions on the related products and any other documents forming the banking agreement.
4.2 Baiduri Bank may, at any time and without prior notice or liability to any party, suspend or terminate the Promotion or vary these terms and conditions.
4.3 The Bank reserves the right to determine at its sole and absolute discretion all matters arising out of or in connection with the Promotion. The Bank’s determination of all matters relating to this Promotion shall be final and conclusive and no correspondence will be entertained.