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What is MCB Mortgage Loan?

MCB Mortgage Loan is the loan product accessible to property owners who can mortgage any of their existing acceptable properties as a security to avail the credit facility.

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Special Benefit

  • Easy source of cash and can borrow for virtually any purpose of financing
  • Tenure up to 15 years (7 years for apartment & Condo with no owner book and 15 years for land & building and apartment & Condo with owner book)
  • Short processing time
  • Flexible Repayment

Eligibility

  • Individuals having regular source of income such as employees, businessmen, self-employed consultants/professionals, property owners (rental income), etc.
  • Applicant should be 23 years or above.

Loan Amount

  • 10 Million to 250 Million MMK

Interest Rates

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Interest rate per annum
10%

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Basic documents required

Required Documents

Personal Account

  • Consumer Loan application.
  • NRC and Household lists of all the applicants and guarantors.
  • Original Ward Certificate & Police Certificate of all the applicants and guarantors.
  • Income source documents such as employees (Pay Slip, Account Statement, Recommendation Letter, Tax Receipt) or Businessman ( Updated License, Financial statements for 3 years, Tax Receipts, Account Statements), or Property Owner (rental agreement/ document evidencing ownership of assets for rental income).
  • Regarding property documents, following should be obtained:
    a) For Land and Building, copy of title of the land. (It should be in the name of borrowers – Lease hold / Free hold lands with clear title only acceptable). For Apartments/ Condominium, copy of Sales Contract/ Ownerbook & Copy of title of the land.
    b) Land Map (form 105), Land history (Form 106), not older than 6 months.
    c) Building/land/ Apartments/ Condominium photos

Fees & Charges

  • 1.5% of loan amount upfront
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How To Apply

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Frequently Asked Questions

Savings Account allows unlimited withdrawals and deposits, and provides quarterly interest payment to the account. Interest is calculated on a monthly basis before the fifth of every month.

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