Loan Against Property
You may wish to leverage your investment in property to obtain financing for your personal, business and family needs. This may include providing and additional liquidity for investments, raising capital for your business, education of your children or even arranging funds for a wedding in the family. With this facility, unleash the potential of your property investments to create more wealth.
- Repayment period up to 10 years
- Repayable on monthly installments
- Loan can be availed for any legal purpose
- Minimum monthly income MMK 1,000,000
- High end cars and heavy machinery dealers, who rented the cars and machineries to reputed lessees.
- Individuals or companies who has given apartments, office buildings, houses etc. on lease to reputed tenants.
- Land and Building owned by the borrower or close family member like father, mother, spouse, sister/brother.
a) Personal Guarantee of Spouse or Father/Mother
b) Documents for Borrower & Guarantor
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
- Land related documents such as; Grant, Form 105/106 etc
| Interest Rate | 12.5% p.a |
|---|---|
| Lawyer & Accessor Fees | 90,000MMK |
| Early Repayment fees | 3.00% on prepaid amount (if paid during the first 2 years of loan period) |
| 2.00% on prepaid amount (if paid during the third year of loan period) | |
| 1.00% on prepaid amount ( if paid after 3 years of loan period) |