Bank Loan Application
A panel of bankers has been appointed to provide loans to those who qualify, but the final decision lies with you as you are free to choose any bank/finance company of your choice. The documents required to apply a loan are:‐
With the continuous increases in the cost of labour, sand, clay bricks, etc., the building industry is at an inflection point whereby the implementation of IBS is no longer an optional choice, but a life and death necessity for future survival. Having our own concrete manufacturing facilities provides us the platform to conduct research and development into construction methods and IBS products that are specific to the project types that are being undertaken by our group of companies.
i) For self Employed or Businessman/woman
- Photocopy of your IC
- Trading License
- Bank Statement (latest 6 month)
- Financial Statement (Latest 2 years)
- Income Tax and Payment Receipt
- Form 9, 24 and 49 (for “Sdn. Bhd” company only)
ii) For Fixed Income Earner (Salary)
- Photocopy of your IC
- A copy of last 3 month’s pay (payslip)
- Letter of Employment
- EPF Statement
- EA form
- 6 month’s bank statement (Salary Crediting)
*Bank Loan repayment period is 30 years (maximum).
Sequence of Loan Processing
- Submission of loan application form with the necessary documents.
- Interview by bank/finance company.
- Letter of Offer upon approval from bank/finance company.
The Letter of Offer fully signed by you as acceptance of the offer and returned to the bank/finance company with a copy to the developer.
- Deed of Assignment and Loan Arrangement (for Strata Units); or
- Memorandum of Transfer Form 14A and Charge Form (Landed units with individual titles).
- Letter from bank/finance company advising you to execute loan documents at solicitor’s office.
- Loan documents forwarded to bank/finance company for execution.
- Loan documents returned to solicitors who will forward to developer for execution of Memorandum of Transfer.
- Executed loan documents returned to solicitor for stamping and registration. Stamped loan documents forwarded to bank/finance company for safe keeping. A copy each is given to purchaser and developer.
- Bank/finance company will release payments to developer progressively in accordance to the Third Schedule of the Sale and Purchase Agreement upon receipt of our invoice.