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Your Dream Home with Lumut Sand, Phase 8

Realise your dream of owning your own home with SPAD Sdn Bhd.

Take advantage of attractive rates with our exclusive Home Ownership Loan offers from now to 1 July 2024.

  • Terms & Conditions
    Your Dream Home with Lumut Sand, Phase 8 (this “Promotion”) Terms and Conditions

    1. Promotion Period
    1.1 This Promotion is valid from 1 April 2024 to 1 July 2024, both dates inclusive, or such other date(s) as may be determined by Baiduri Bank Sendirian Berhad (“the Bank”) at its discretion (the “Promotion Period”).

    2. Eligibility
    2.1 This Promotion is offered to new and existing individual customers of the Bank who are applying for a Home Ownership Loan to purchase the residential property currently under construction titled ‘Lumut Sand, Phase 8’ listed by Board of Valuers and Estate Agents (BoVEA) Certified Real Estate Agents and fulfill the following criteria during the Promotion Period ("Eligible Applicants"):

    2.1.1 Brunei Citizens or Permanent Residents who are salaried, excluding self-employed individuals; or

    2.1.2 Eligible Foreigners with their salary assigned to the Bank.

    2.2 For the purpose of this Promotion, Eligible Foreigners are defined as:

    2.2.1 Foreigners born in Brunei Darussalam and are 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 Foreigners must maintain their salary with the Bank throughout the duration of the Home Ownership Loan. For the avoidance of doubt, applicants who are Brunei Citizens or Permanent Residents are not required to assign their salary to the Bank to be eligible for this Promotion.

    2.4 To be eligible for this Promotion, the Home Ownership Loan must have a minimum tenure of ten (10) years and a minimum loan amount of BND100,000.

    2.5 The approval of the Home Ownership Loan application is subject to full satisfaction of the Bank’s criteria, including the Bank’s credit assessment and documentation requirements.

    2.6 Employees of the Bank, Baiduri Finance Berhad and Baiduri Capital Sendirian Berhad are not eligible to participate in this Promotion.

    3. Promotion Mechanics
    3.1 Eligible Applicants will be entitled to select one of the offers below:

    Brunei Citizens and Permanent Residents employed with Brunei Government, Semi-Government or Brunei Shell Joint Venture (BSJV) companies

    Brunei Citizens and Permanent Residents employed with private sector companies

    Eligible Foreigners





    Promotional Effective Interest Rate (“EIR”)1




    Financing for associated costs

    3%, capped at BND10,000

    Loan-to-Value (“LTV”)2

    Up to 85%

    Up to 80%

    Up to 75%

    Processing fee


    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.

    3.2 The financing for associated costs granted under this Promotion shall be used for the payment of fees including but not limited to:

    3.2.1 Preparation of legal documentation including the Sales and Purchase Agreement

    3.2.2 Fire insurance for the first year of purchase only

    3.2.3 Mortgage Reducing Term Assurance (“MRTA”)

    3.2.4 Valuation reports

    3.2.5 Stamp duty for Memorandum of Charge

    3.3 The legal documentation including Sales and Purchase Agreement for this Promotion will be prepared by CCW Partnership.

    3.4 Upon the approval of the Home Ownership Loan application and the 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 fourteen (14) working days of the date of signing of the FOL.

    3.5 In the event that the applicant cancels their application after it is approved and/or before it is disbursed, the applicant will be liable to pay all fees and costs in connection with the loan processing that they may have received, or it may be debited without notice from their account with the Bank.

    4 General
    4.3 This Promotion is governed by the Bank’s terms and conditions on the related products and any other documents forming the banking agreement.

    4.4 The Bank may, at any time and without prior notice or liability to any party, suspend or terminate this Promotion or vary these terms and conditions.

    4.5 This Promotion is not valid with other offers, privileges or promotions unless stated otherwise.

    4.6 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.

    • 4.7 By participating in this Promotion, Eligible Applicants:
    • Agree to be bound by these terms and conditions;
    • Consent to their personal data being collected, processed, and used by the Bank in accordance with the Group Privacy Policy, which may be viewed at; and
    • Consent to their personal data being collected, processed, and used by the Bank for the purposes of this Promotion and for marketing and promotional activities conducted by the Bank.

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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:
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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.

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