Interest rate as low as 4% EIR and 3% subsidy

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

1. Term
1.1 This Promotion begins on 15 September 2018 and ends on 31 December 2018, both dates inclusive (the “Promotion Period”).
2. Eligibility
2.1 This Promotion is open to new and existing Baiduri customers who meet the following criteria (‘Eligible Applicants’):
  • Brunei citizens and permanent residents who are 21 years old and above;
  • minimum of 1 year working experience with the same employer;
  • do not have an existing Home Ownership Loan with Baiduri Bank.
2.2 Assignment of salary to the Bank is compulsory.
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 as low as 4% EIR for loan to value up to 95% for perpetuity property.
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 to 3% of Eligible Applicant’s approved loan amount or a maximum of BND10,000, whichever is lower. This subsidy covers legal costs, valuation cost and fire insurance cost for the first year.
3.4 24-hour approval of loan application is subject to complete documentation at the time of application.
3.5 Eligible Applicants are entitled to fee waivers for the following:
  • Loan processing fee
  • Real Time Gross Settlement (RTGS) and Cashier Order fee
3.6 Eligible Applicants with approved loan amount above BND100,000 are entitled to Supa Save shopping vouchers worth BND200 while stock lasts.
3.7 The first ten (10) Eligible Applicants who quote the code published in the October issue of BHC magazine will each receive a furniture voucher worth BND100 upon successful application.
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.