Subsidized Loan by Statutory Bodies/Government Linked Agencies/Employers

For employees serving under the above organizations.

Maximum Loan

100% of cost of property or our Company’s valuation on the property whichever is the less subject to our Company’s Management Loan Committee’s approval.

Maximum loan is subject to respective Employers’ subsidized loan scheme.

Maximum Repayment Period

25 years subject to age plus repayment tenure not exceeding 65 years.

Subsidized Interest Rate

According to respective organizations’ subsidized loan scheme.

Frequently Asked Questions

  1. Can we utilize the balance of our subsidized loan entitlement to purchase a 2nd property?

    Yes, you may apply but subject to your employer’s approval.

  2. What is your maximum loan period?

    Our maximum loan period is 25 years subject to age not exceeding 65 years whichever is earlier.

  3. If we have a loan with other Bank, can we transfer our loan to Borneo Housing utilizing our subsidised loan?

    Yes, you may but subject to your employer’s approval.

  4. If I intend to build a house on my own land, do I need to appoint a Contractor?

    Yes, you may appoint a reliable contractor and also provide us with the Contract Agreement (if any).

  5. If I am building my own house using direct labour, can I request for advance payment in order to commence the construction of the building?

    No, we do not allow payment in advance. Release of loan upon completion of documentation can only be made progressively based on our Company’s Progress Report on construction works achieved.

  6. If I apply for an additional loan can the progressive payment be paid direct to me?

    No, all progressive payments are to be channelled through the solicitors handling the loan documentation.

  7. If I apply for Borneo Housing loan, can the legal fees be paid from the loan approved?

    No, we do not allow the legal fees to be deducted from the approved loan and other disbursements are to be paid by you.

  8. My land is situated at the Kampong Reserve, is it acceptable as a security?

    Since the land belongs to the Community for e.g. the Kampong itself and not individual, it is therefore not acceptable to us as a security for loan facility.

  9. * The Company reserves the right to vary the above information, terms & conditions from time to time without assigning any reason whatsoever.