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Frequently Asked Questions

How long is your banking processing time?
The banking processing time for a home loan typically takes about 4 to 6 weeks (about 1 and a half months) from the submission of all required documents.
What are the required documents for borrower?

The required documents generally include: 

  1. a) Personal Guarantee of spouse or Father & Mother
    b) Documents for Borrower & Guarantor
    • Application form 
    • NRC Copy – Original to verify 
    • Recent Passport Size Photo 
    • Copy of Household Registration Letter 
    • Recommendation letter from Head of Quarter 
    • Letter of chief of Quarter certifying that collateral security owner has not married again, in case of first wife/husband passed away

    •  

    c) Income proof – If employed

    • Bank statement for last 3 months 
    • Certificate from Employer 
    • Pay Slip (not required, if salary is credited to bank account) 
    • Copy of Tax Book


    d) Income proof – If self-employed /Business

    • Bank Statement for last 6 months 
    • Business License/ Company Registration 
    • DICA extract showing shareholder details 
    • Previous Year Tax Receipt 
    • Site visit by bank staff and assessment of business activity


    e) Documents regarding house property

    • Details of property to be constructed / purchased 
    • Copies of all related documents of property to be purchased 
    • Related contracts / agreements etc. with the contractor, architecture, supplier 
    • Stage wise construction cost details, in case of construction/renovation of house etc.
How are my payments / amortization collected?
Payments can be collected monthly through auto-debit from your bank account, post-dated cheques, uabpay or over-the-counter payments at any of our branches.
Do I need guarantor(s)?
Yes, guarantors are generally required for securing a home loan. The number and eligibility of guarantors will depend on the loan amount and the borrower’s financial profile.
What types of home can I buy ?

You can buy various types of homes including: 

  • Residential houses 
  • Apartments 
  • Condominiums 
  • Land for construction of residential property 
  • Renovations to house, condominium and apartment
How to Apply
To apply for a home loan, you can visit any of our branches or apply online through our website. Fill out the application form and submit the required documents.
What are the loan terms available?
The loan terms available range from 1 year to a maximum of 15 years.
Should I get the uab Home Loan through a dealer?
It is not necessary to get a home loan through a dealer. You can apply directly through our bank.
Are there any other charges for home loans?

Yes, there are other charges such as MMCB fees, legal fees, valuation fees, and stamp duty. These charges will be detailed during the loan application process. 

  MMCB Fees     12,000 MMK per application 
  Lawyer & Accessor Fees    80,000 MMK 
  Early Repayment Fees 3% on prepaid amount (if paid during the first 2 years loan period) 
2% on prepaid amount (if paid during the third year of loan   period) 
1% on prepaid amount (if paid after 3 years of loan period) 
What's the maximum loan based on my monthly income?

The loan amounts up to 70% of the project cost of the construction/ purchase. 

The Loan eligibility will be adjusted to ensure that total monthly installments from all loans (uab plus other banks) should not exceed 1/3 of gross monthly salary / monthly income as per the supporting documents provided. 

Minimum monthly income: MMK 1,000,000. You can calculate the estimated loan amount via our calculator.