Home Improvement Financing

Syariah Concept
  • Bai’ Bithaman Ajil (BBA)
Purpose
  • Renovation / Extension of House
  • Rescheduling from other bank with an additional extension / renovation of house
Eligibility
  • Age 18 years old and above
  • Not exceeding the retirement age at the end of payment period
  • Brunei citizen and permanent residents
  • Employees of Brunei Government and selected Private sectors
Term
  • Max 10 years (Structural), 6 years (Non-Structural)
Profit Rate
  • 7.5% Monthly Reducing
Financing Amount
  • Max $250,000
  • Min $3000 (new application)
  • Min $500 (refinancing)
Processing Fee
  • $200
  • $150 (Refinancing)
Basic Documentation Requirement
  • A completed Home Improvement Financing Application form
  • Identification Card Applicants and/or home owner
  • Original copy of applicant’s latest three (3) months’ salary slips
  • Latest Employment confirmation letter
  • Bank statements for the last 3 months (if applicable)
  • Latest certificate of balance and/or latest clearance letter (if applicable)
  • Contract agreement / quotation between contractor and the house owner / applicant
  • Contractors certificate of registration
  • Proposed / approved house plan (approved by ABCI)
  • Approval letter from the authority (if applicable)
  • Assign salary to TAIB