KBZ Introduces Long-Term Construction Loan
KBZ Introduces Long-Term Construction Loan
Myanmar Business To, 04 Jun 2019
URL: https://www.mmbiztoday.com/articles/kbz-introduces-long-term-construction-loans
KBZ Bank in collaboration with MYANMAR ART Construction & Development Co., Ltd and iMyanmarHouse.com, introduced a new product for individuals who want to build houses on their land, the new product offers 25-year home loan terms.
“KBZ bank will provide long-term loans at as much as 70 percent of the value of the home, this is for individuals who want to build a house on their own land. The loan terms will be considered based on the ownership and up to 25 years on a case by case,” said U Htay Aung, Head of Home Loan Department of KBZ Bank.
Moreover, KBZ will also provide loans for up to three years for those building hotels, motels, restaurants, boarding houses, factories, warehouses and other types of buildings as well as renovation loans.
The terms of the loan will be determined based on the type of land ownership and the interest rate will be up 13 percent.
“IMyanmarHouse.com will take responsibility on marketing and promotion partnerships, while MYANMAR ART Construction & Development Co., Ltd, will provide financial and construction services. We want to make the dream of owning a house come true in accordance with our motto ‘Every Citizen Shall Own a House,” said U Nay Min Thu, Managing Director of iMyanmarHouse.com.
If you want to apply for the loan, you can get it by providing copies of land ownership certificate, income description, ID cards, family certificate and bank statements for the last six months.
“KBZ bank will provide long-term loans at as much as 70 percent of the value of the home, this is for individuals who want to build a house on their own land. The loan terms will be considered based on the ownership and up to 25 years on a case by case,” said U Htay Aung, Head of Home Loan Department of KBZ Bank.
Moreover, KBZ will also provide loans for up to three years for those building hotels, motels, restaurants, boarding houses, factories, warehouses and other types of buildings as well as renovation loans.
The terms of the loan will be determined based on the type of land ownership and the interest rate will be up 13 percent.
“IMyanmarHouse.com will take responsibility on marketing and promotion partnerships, while MYANMAR ART Construction & Development Co., Ltd, will provide financial and construction services. We want to make the dream of owning a house come true in accordance with our motto ‘Every Citizen Shall Own a House,” said U Nay Min Thu, Managing Director of iMyanmarHouse.com.
If you want to apply for the loan, you can get it by providing copies of land ownership certificate, income description, ID cards, family certificate and bank statements for the last six months.