Home Improvement Financing
Giving your home the makeover you have always wanted.
Eligibility
- Brunei Citizens and Permanent Residents.
- Individuals aged 18 to 65 years.
- Employed with Brunei Government, Semi-Government or private companies approved by BIBD.
* The maximum age of Customer is 55 years if the Customer is not receiving TAP, 60 years if the Customer is receiving TAP and not exceeding 65 years at the time of expected financing maturity.
Required Documents
- Original copy of Identification Card.
- Original copy of latest Salary slip.
- Letter of Confirmation. (Salary/ Pension/ Service Contract)
- Latest 3 months Bank Statements if salary is assigned with other Financial Institutions. (where applicable)
- Contract Agreement/ Quotation between the Customer and the Contractor.
- MOD registered contractor.
- Contractor’s Builder License.
- Construction approval from the relevant authority (ABCI). (where applicable)
Fees
- You may refer to the Bank's Schedule of Tariffs and the list of applicable rates for this product.
Features
Enjoy a flexible payment period of up to 10 years
Financing of up to 100% of renovation costs
Use our Home Improvement Financing for Home Renovation or Home Extension
Applicable for both Government Housing Scheme and Private Homes
Suitable For
Retired Individuals
Working Professionals
Tawarruq
Tawarruq consist of two sales contract. The Bank will purchase Shariah-compliant commodities from a supplier and sell the commodities to the customer (1st sale contract), disclosing cost price and profit amount (“Murabahah”). Customer, as the owner of the commodities, can appoint the Bank as their disposal agent (“Wakil”) to sell the commodities (2nd sale contract) to a third party on their behalf, and as their payment agent to credit the sale proceeds to the customer’s account and/or make payment arrangements as agreed by the customer.
Please read the Product Disclosure Sheet and the General Tawarruq Terms and Conditions of Sale before you decide to apply for the Home Improvement Financing.