Home Improvement Financing
Syariah Concept
Tawarruq
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
Financing Amount
- Max $250,000
- Min $3000 (new application)
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) month’s 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
Fees
Refer to TAIB Schedule of Tariffs & Fees