1.1 This Promotion is valid from 15 October 2024 until 30 April 2025, both dates inclusive, or such other date(s) as determined at the discretion of Baiduri Bank Sendirian Berhad (“the Bank”) (the “Promotion Period”).
1.2 Participation in this Promotion constitutes acceptance of these terms and conditions (the “Terms”).2. Eligibility
2.1 This Promotion is open to both new and existing individual customers who apply for a Home Ownership Loan or Property Investment Loan to purchase a residential or commercial property titled “18th Avenue” located at EDR No. BD 31428, LOT No. 32170, Kampung Pusar Ulak, Mukim Kianggeh, Brunei Muara District, listed by Board of Valuers and Estate Agents (BoVEA) Certified Real Estate Agents and meet the following criteria during the Promotion Period ("Eligible Applicants"):
2.1.1 Brunei Citizens or Permanent Residents who are salaried employees, excluding self-employed individuals; or
2.1.2 Eligible Foreigners.
2.2 For the purpose of this Promotion, Eligible Foreigners are defined as:
2.2.1 Foreigners born in Brunei Darussalam applying for Brunei Citizenship or Brunei Permanent Residency; or
2.2.2 Foreigners working in Brunei Darussalam and married to a Brunei Citizen; or
2.2.3 Foreigners earning a director or partnership fee in Brunei Darussalam.
2.3 Eligible Applicants must maintain their salary with the Bank throughout the duration of the Home Ownership Loan and Property Investment Loan.
2.4 To qualify for this Promotion, the following minimum tenure and loan amount requirements must be met:
2.4.1 The Home Ownership Loan must have a minimum tenure of ten (10) years and a minimum loan amount of BND 100,000.
2.4.2 The Property Investment Loan must have a minimum tenure of five (5) years and a minimum loan amount of BND 50,000.
2.5 Approval of the Home Ownership Loan or Property Investment Loan application is subject to full satisfaction of the Bank’s criteria, including but not limited to credit assessment and documentation requirements.
2.6 Employees of the Bank, Baiduri Finance Berhad and Baiduri Capital Sendirian Berhad are eligible to participate in this Promotion.
3.1 Residential Apartment for Own Occupancy
Eligible Applicants can select one of the following offers:
A
B
A
B
4.0%
4.25%
5.0%
5.25%
None
Up to 4% of the Open Market Value (OMV), capped at BND 15,000
None
Up to 4% of the Open Market Value (OMV), capped at BND 15,000
Up to 4% of the Open Market Value (OMV), capped at BND 15,000
None
Up to 4% of the Open Market Value (OMV), capped at BND 15,000
None
Up to 95%
Up to 90%
Up to 85%
Up to 85%
Waived
3.2 Residential Property for Investment Purposes
Eligible Applicants will be entitled to one of the following offers:
5.0%
6.0%
Up to 4% of the Open Market Value (OMV), capped at BND 15,000
Up to 4% of the Open Market Value (OMV), capped at BND 15,000
Up to 80%
Up to 65%
Waived
3.3 Commercial Property for Investment Purposes
Eligible Applicants will be entitled to the following offer:
5.75%
Up to 4% of the Open Market Value (OMV), capped at BND 15,000
Up to 70%
Waived
1EIR is floating and linked to the Base Lending Rate ("BLR"). For the avoidance of doubt, the BLR is currently at 5.5% and subject to changes at the Bank's discretion.
2LTV refers to the loan amount against the Open Market Value (OMV) of the property.
3.4 The subsidy or financing for associated costs granted under this Promotion can be used for the payment of fees including but not limited to:
3.4.1 Preparation of legal documentation3.4.2 Fire insurance for the first year of purchase only3.4.3 Mortgage Reducing Term Assurance (“MRTA”)3.4.4 Valuation reports3.4.5 Stamp duty for Memorandum of Charge
3.5 For the avoidance of doubt, any unused portion of the subsidy amount after payment of the above fees will not be released to the successful applicants. If the approved loan is partially or fully settled before its maturity date, the Bank reserves the right to recover the whole subsidy granted under this Promotion. Any unused financing for associated costs will be credited into the customer’s account with the Bank.4. General
3.6 By participating in this Promotion, the successful applicant authorises the Bank to appoint CCW Partnership to prepare the necessary legal documentation on their behalf.
3.7 Upon approval of the Home Ownership Loan or Property Investment Loan application and signing of the Facility Offer Letter (“FOL”) by the successful applicant, the loan amount will be disbursed to the successful applicant's Bank account within 21 working days from the signing date of the FOL.
3.8 If the successful applicant cancels their application after approval and/or before disbursement, they will be liable for all fees and costs associated with loan processing and must repay any subsidy received to the Bank upon demand. The Bank may debit this amount from their account without notice.
4.1 This Promotion is governed by the Bank’s terms and conditions on the related products and any other documents forming the banking agreement.
4.2 The Bank may, at any time and without prior notice or liability to any party, suspend or terminate this Promotion or vary the Terms.
4.3 The Bank reserves the right to determine at its sole and absolute discretion all matters arising out of or in connection with this Promotion. Its determination of all matters relating to this Promotion shall be final and conclusive, and no correspondence will be entertained.
4.4 This Promotion is not valid with other offers, privileges or promotions unless stated otherwise.
4.5 By participating in this Promotion, Eligible Applicants consent to the collection, use and disclosure of the Eligible Applicant’s personal data by/to the organisers, promoters or conductors of this Promotion and such other third parties for the purpose of this Promotion in accordance with the Group Privacy Policy. Eligible Applicants confirm that they have read and agree to the terms of the Group Privacy Policy, as may be amended, supplemented and/or substituted by the Bank from time to time, a copy of which can be found on www.baiduri.com.
4.6 In the event of any discrepancy between the Terms and any promotional materials relating to this Promotion, the Terms shall prevail.
4.7 The Terms shall be governed by and construed in accordance with the laws of Brunei Darussalam.
Important update
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.
