Home Loan

Bring Your Dream Home with MD Bank
Open your dream with MD Bank to achieve your dream home.
Inquiry at nearest branch and we will guide you through application process.

Features and Benefits

Home Loan Specialist will guide you to apply application easily.
You can purchase of Landed House, Condo, Mini Condo and Apartment.
You can pay only 30% down payment for your dream home.

Eligible Borrower

Individuals having permanent source of income.
Age at least 21 years old and not more than 60 years old.

Conditions

Down Payment	Minimum 30%
Loan Amount	Up to 70%
Loan Repayment Period	Up to 15 Years
Loan Repayment Method	Equal Monthly Instalment (EMI)

Fees and Charges

Interest Rate	10 % p.a.
Service Charges	1% on Loan Amount
Late Fees	Up to (90) Days – 1% (Per month) (91 – 180) Days – 2% (Per month) Above (180) Days – 3% (Per month)
Early Repayment Fee	3% on the prepaid amount (if paid during the first 2 years of the loan period) 2% on the prepaid amount (if paid during the third year of the loan period) 1% on the prepaid amount (if paid after 3 years of the loan period)

Requirements

Applicant and Guarantor

NRC (Copy) – original to verify
Census (Copy) – original to verify
Ward Recommendation (original)
Recent Passport Photo (2 pecs)
Other Bank Loan Statements (if applicable)

Property Owner (or) Seller (or) Developer

NRC & Census (Copy)
Deep of Landownership
Land Map & History – Form 105/106
Deposit & related Contracts – including contract between land owner & developer
Building Completion Certificate (BCC)
General Power (GP) (or) Special Power (SP)
Photos of Property

For Salary Employed

Employee Recommendation from HR (or) Senior Management Level of Company with Letter Head (original – indicates position, salary and applying date)
Salary Pay Slip (or) Bank Statement – 6 months
Income Tax – 6 months
Employee Card (copy) – original to verify

For Businesses (or) Self Employed

Updated DICA Registration (or) License of Business (copy) – original to verify
Company Extract (includes shareholder lists and company constitution)
Other related Licenses (copy) – original to verify
Income Tax for the last 2 years – including current year
Financial Statements for the last 2 years – including current year
BOD Meeting Minutes (original)
Company (or) Business Photos

For Guarantor

Personal Guarantee of spouse (or) Father/ Mother (or) any family members with relevant income proof.