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
  • Individuals having permanent source of income such as; employees, businessman, doctors, lawyers, consultants, migrant workers, rental income etc
  • Loan eligible up to 60% of the value of property
  • 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 income
  • 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
  • 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
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
Interest Rate 10.00% p.a
Lawyer & Accessor Fees 80,000MMK
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 )