Terms and Conditions

Consolidation Loan Promotion (“this Promotion”) Terms and Conditions:

1. Term
1.1 This Promotion begins on 17 October 2018 and ends on 31 January 2019, both dates inclusive (the “Promotion Period”).
2. Eligibility
2.1 This Promotion is open to new and existing customers who meet the following criteria (the “Eligible Applicants”)
  • apply for a new Consolidation Loan or transfer their existing Consolidation Loan with other banks to Baiduri Bank during the Promotion Period;
  • are full-time employees of the Brunei Government, semi-Government organisations, Brunei Shell Petroleum and subsidiaries;
  • are Brunei citizens and permanent residents
2.2 Facilities to be consolidated must be granted before 8 June 2015 in the name of the Eligible Applicant, and existing Total Debt-Service Ratio (TDSR) must be over 60%.
2.3 Approval of loan applications is subject to the Bank’s credit assessment policies.
3. Offers

3.1 Eligible Applicants will be entitled to an Effective Interest Rate (EIR) as low as 5.5% EIR per annum, 24-hour approval, a BND75 processing fee (50% discount from normal fee) and shopping rewards under this Promotion.
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 24-hour approval of loan application is subject to complete documentation at the time of application.
3.4 Eligible Applicants will be entitled to a discounted processing fee of BND75 instead of BND150.
3.5 Eligible Applicants will be entitled to shopping rewards worth up to BND300 based on table below. Shopping rewards may be given in the form of shopping vouchers or pre-loaded Baiduri Mastercard Cash Card.

Approved Loan Amount (BND)

Value of shopping rewards (BND)

BND151,000 and above 300
BND100,000 – BND150,000 250
BND51,000 – BND99,000 200
BND30,000 – BND50,000 150
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.