faq

MAB allows the customers to purchase a residence such as Condos/Apartments or landed properties from authorized developers.

You must be of Myanmar nationality, between the age of 24-55 years old. For more information, please contact to MAB Call Center at (+95) 18610612 or email to [email protected].

Yes, any immediate family member with a regular income can be a co-applicant for Home Loan application.

Yes, we need at least two guarantors for Home Loan Application.

We provide multiple channels for your loan repayment.

• MAB Branches
• MAB mobile banking
• MAB ibanking
• Agency Banking

Bank will inform the customer within 10 working days whether it is approved or rejected.
However, according to the customer’s completed documents submission, the loan approval date may be deferred.

(Requirements of Customer)

1. A copy of NRC, A copy of household list
2. Letter of employment or contract (must show employed date, designation, salary and confirmation of employment)
3. Pay slips/bank statement for 3 months
4. Tax payment slips for 3 months
5. Company Documents from DICA
   • Company Profile
   • Filing History
   • Address
   • Officers
   • Shareholdings
   • Company Authority
   • Members
   • Documents
     • Copy of Officers ID’s
     • Company Constitution
     • Certificate of Incorporation
6. Other Source of Income
7. Most recent audited financial statements for the company owned or company license
8.  Bank Statements for 3 Months
9. Tax payment slips for 3 years
10. BOD Resolution (All directors need to sign for initial)

In case, there is some issue or default regarding the HP/AF Finance, company will take full responsible for it.

For 2 Guarantors

• A copy of NRC of guarantor
• A copy of household list of guarantor

Note: “*’’ Mandatory Documents.

The customer can make a phone call to the bank and ask for the information that they will need in the application process or go to the authorized developers to get detail about the home loan application.

If the customer’s submitted documents are not covered enough for credit assessment, MAB may ask customers to provide additional documents.

• Grant/Leasehold Land
• Freehold Land
• YCDC Land
• DUHD Land

The customer can apply the MAB Home Loan via MAB bank branches or from our authorized developers.

Yes, the customer needs to have fire insurance from an insurance company authorized by MAB for Home Loan.

Yes, under the regulations of Internal Revenue Department, stamp duty shall be paid by the customer according to the rules and regulation of Internal Revenue Department and Sales & Purchase Agreement must be officially registered as a part of the loan process.

MAB will provide a monthly repayment schedule once the Home Loan application gets approval. It can be checked via ibanking.

Amortization method is used for MAB Home Loan.

The benefit of using an amortization schedule is that the interest is calculated monthly on the remaining principal amount.

If the customer would like to ask for more details, the customer can go to the branches or call the call center.

Yes, Customer may require to pay higher percentage of down payment to the bank to fulfill DSR ration for loan repayment.

The property which are not included in MAB accepted land types or the property ownership documents are not qualified enough to evaluate for loan assessment.

The customer will receive the ownership documents once the repayment
(Principal + Interest) and other outstanding balances have been paid to the MAB.