Your best moments are usually at home

Your best moments are usually at home (“this Promotion”) Terms and Conditions:

1. Term
1.1 This Promotion begins on 15 April 2019 and ends on 30 September 2019, both dates inclusive (the “Promotion Period”).
2. Eligibility
2.1 This Promotion is open to customers who meet all of the following criteria (‘Eligible Applicants’):

  • apply for a new Home Loan; or
  • apply to transfer their existing Home Loan with other banks to Baiduri Bank during the Promotion Period; or
  • are full-time employees of the Brunei Government, semi-Government organisations, Brunei Shell Petroleum and subsidiaries, Petroleum Brunei; or
  • are full-time employees of any private sector companies with corporate lending facilities with Baiduri Bank; or
  • are Brunei citizens and permanent residents
2.2 Assignment of salary to the Bank is compulsory.
2.3 Early settlement, whether in full or partial, will incur early settlement fee as stated in the Bank’s general tariffs and Banking Facility Letter.
2.4 Approval of loan application is subject to the Bank’s credit assessment policies.
3. Offers
3.1 Eligible Applicants will be entitled to an Effective Interest Rate as low as 4% p.a. for loan-to-value up
to 95% for perpetuity properties.
3.2 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.
3.3 Subsidy is limited up to 3% of Eligible Applicant’s approved loan amount or a maximum of BND10,000, whichever is lower. This subsidy covers the costs of legal documents, MRTA /re-assignment of MRTA for Home Refinancing loan (as applicable), valuation and fire insurance.
3.4 If the subsidy is insufficient to cover all professional fees, the remaining balance can be capitalized into the loan amount.
3.5 Eligible Applicants are entitled to full fee waivers for the following:
  • Loan processing fee
  • Real Time Gross Settlement (RTGS) and Cashier Order fee
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.