What is First Private Bank's High Net-worth Customer Loan?

  • The High Net Worth Loan is a type of financing designed to support the operational and working capital needs of businesses. It is available for borrowers seeking a minimum loan amount of 10,000 Lakhs (1 Billion MMK) and above, with a maximum loan tenure of up to 2 years.

Types of Collateral

  • Immovable Properties: Land and Buildings, Condominiums/Mini-Condominiums, and Fixed Deposit Accounts.
  • Additional Collateral: Other movable assets such as Machinery, Motor Vehicles, and Heavy Equipment can be pledged as additional collateral.

Interest and Repayment Plan

(1) Interest 13%
(2) Service Charges 0.5%
(3) Interest Repayment Method Interest must be paid on a Monthly or Quarterly (every 3 months) basis.
(4) Principal Repayment Method The full loan amount (principal) must be repaid at maturity (the end of the loan term).

Requirements

  • A copy of NRC Card and Household Registration Card with a passport photo of the applicant
  • Copy of valid Business License/Registration
  • Financial Statements for the latest 3 years
  • Receipts of Income tax for the latest 3 years
  • Business Photos
  • Title Deeds, Lease (Original and Copy)
  • Form-105/Form-106 in the name of the applicant mentioning that the reason is to borrow from the bank
  • If the building is self-constructed, original building permit and original residency permit should be submitted to the bank.
  • Photos of the building.
  • Court Affidavit mentioning that the property is free from mortgage, free from sale and free from giving as a gift to someone.

Application Procedure

  • Please visit the nearest First Private Bank Branch and discussed with the branch manager for required documents, etc. and fill Application Form and submitted it to the bank.
  • Responsible personnel will scrutinize the applied information and inspection will be made for Title clearance and assess the market value and forced-sale value of the properties.
  • The loan will be disbursed within maximum 2 weeks provided that all the required documents are adequate and in line with rules and regulations of the bank.
  • Sign the loan contract and related documents at the bank once the loan has been disbursed.

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