About Home Construction Loan
With a Yoma Bank Home Construction Loan, you can build your dream home on your own land or you can buy land and build your dream home on that land. Inquire at your local Yoma Bank branch and let our financial experts guide you through our easy application process.
Choose the perfect loan for you
Key Features & Benefits
Get financial support for both costs of land and home construction
Loan Term up to 25 years
Receive financing up to 50% of land cost and 70% of home construction cost
Get support to check the document integrity of the land by a certified lawyer
Eligibility & Requirements
to Open Loan
- NRC (Original) and family registration list (Original)
- Original ward recommendation letter (proof of residence)
- Proof of income (employment verification or business registration details etc.,)
- Income Statement
- Blueprint of the building house
- Estimated cost and timeline of the construction of the house (the construction of the house is to be completed within 12 months)
- Any other land ownership-related documents
- Legal contract between the loan applicant and the contractor
- Detailed blueprint of the house
- Building permit and assessor report of the house upon completion of the building construction
- Assessor report and lawyer report of the land
- Insurance premium receipt upon 80% completion of the house construction (before disbursement of the last tranche)
For full document requirements, please talk to our skilled home loan specialist at your local branch.
Home Construction Loan
Calculator
Amount
35,000,000.00 MMK 1,000,000,000.00 MMKDuration in years
1year 25yearsInterest Rate
0
Monthly Payment
Total Interest Payable
Before you applied check these information
Other details of Home Construction Loan
| Terms | |
| Interest Rate | 10% per annum* |
| Loan Amount | Min- 35mn MMK Max- 1 bn MMK |
| Loan Tenure | Up to 25 years |
| Establishment Fees | At least 250,000 MMK (or) 1.5% of the approval loan amount (whichever is higher) |
| Early Repayment fees (if paid within first 3 years) | 3% on the outstanding loan amount |
| Down Payment (Land) | 50% of land value |
| Down Payment (Construction) | 30% of home construction cost |
| Eligible Story House | Max- 3 ½ stories |
| * Rates may subject to change |
Important Notice to Customers – please note that the bank does not charge any additional fee in processing the loan application by using third-party channels. The bank is not obligated for payments to any third party appointed by the customer and strongly encouraged to deal with bank directly for all communications.
Important Info for Customers.
Terms & Conditions Apply
Home Construction Loan
Frequently asked questions
These are :
- Salary Advance
- Salary Loan
- Home Loan
- Hire PurchaseSMART Credit
For more information, please contact to Yoma Bank 24/7 call center – 9662 or 097 9662 9662 or Yoma Bank official Facebook page or go to nearest branch during the operation hour and do not forget to bring NRC/Passport.
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