Land & Building Loan - SHWE Bank

Home Consumer Banking Loan Land & Building Loan

General Purpose of Loan

SHWE Bank’s Land & Building Loan is a tailored, long-term solution for individuals aspiring to own and reside in their dream property, whether it’s a complete “land and building” package or just a plot of land.
With our Land and Building Loan, you will be able to turn your property ownership goals into reality by making affordable monthly installments throughout the loan term.

Product Features

SHWE Bank’s Land and Building Loan offers outstanding financing options and a flexible repayment period of up to 15 years, whether you purchase either land and buildings or land only from developers or individual landowners.
Under Land & Building Loan Financing Program, the land purchased must be Grant Land or Official Land, titled in the seller’s name.

General Customer Eligibility

Any Myanmar Citizens with stable income.
Family members are allowed as joint applicant.
The age must be from 20 years to 65 years (by the end of loan tenor) for both applicant and joint applicant.
2 guarantors are required to apply for land & building loan.
Business experience/term must be at least 3 years if the applicant is a self-employed businessman.

Fees and Charges

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Interest rate :	13% per annum
Interest calculation method :	Reducing amortization method
Application fees :	MMK –10,000 (a one-time handling fee)
Minimum Down Payment:	30%
Service Charges (Upfront):	1% on loan amount
Early Repayment Fees:	2% on outstanding outstanding balance (if paid during the first 2 years of loan period)
Insurance :	To place insurance at Bank’s appointed insurance company

Document Required for “Land and Building” loan application

Personal Document Requirements

One passport Size Photo (Mandatory)
NRC copy of the applicant (Mandatory)
Household List Copy (Mandatory)
Original Testimonial Letter from Ward Administration Office (if any)
Original Testimonial Letter from Police Station (if any)
Copy of Current Place of Living– Title/Rent (if any)
If self-employed, Copy of Business Premises – Title/Rent (if any)
Other proof of wealth -gold, car, FD receipt etc. (if any)

If the applicant is Salary Employed;

Employment Confirmation Letter – Mandatory
Salary Slip (minimum 3 months) – Mandatory
Proof of income/Bank Statement for last 3 months – Mandatory
Professional license (such as Doctor License, Seaman’s CDC) – (if professional employed)

If the applicant is Self-Employed- Shop/ Retail Business;

Copy of Business’s License/ YCDC License – Mandatory
Business Photos – Mandatory
Financial Statement for last 3 years – Mandatory
Tax receipt for last 3 years – Mandatory
Proof of income/Bank Statement for last 3 months – Mandatory

If the applicant is Self-Employed- Company/ Corporate Business;

Copy of Company Registration Certificate – Mandatory
Copy of Company’s License – Mandatory
DICA Information – Mandatory
BOD Resolution (Meeting Minutes) – Mandatory
Financial Statement for last 3 years – Mandatory
Tax receipt for last 3 years – Mandatory
Proof of income/Bank Statement for last 3 months – Mandatory

Documents required for land and building

Advance payment of Sales and Purchase Contract – Mandatory
Property Photo – Mandatory
Original Land Document with seller title name – Mandatory
Original Succession Contracts
Original 105/106 (Land Map & Land History) with the remark “purpose to sell”
GP or SP – (if joint applicant) – Mandatory
BCC – (if Land and Building)
Other related documents as and when necessary