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.
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
Basic documents required
Required Documents
Required Documents
Fees & Charges
Required Documents
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.