Home Construction Loan

Personal Banking > Loans

Home Construction Loan

Personal Banking > Loans

About Home Construction Loan

With Yoma Bank Home Construction Loan, you can build your dream home on your own land, or purchase land and construct your dream home on it.

Visit your local Yoma Bank branch, and let our financial experts guide you through the easy application process.

Choose the perfect loan for you

Key Features & Benefits

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Get financial support for both land and home construction costs

Loan term of up to 25 years

Receive financing for up to 50% of land costs and 70% of home construction costs

Get support to check the document integrity of the land by a certified lawyer

Loan Application Requirements

  • NRC (Original) and family registration list (Original)
  • Original ward recommendation letter (proof of residence)
  • Proof of income (employment verification or business registration details etc.,)
  • Income Statement

  • Blueprint of the house
  • Estimated cost and timeline for the house construction (construction must be completed within 12 months)
  • Any other land ownership-related documents

  • Legal contract between the loan applicant and the contractor
  • Detailed blueprint of the house
  • Building permit and assessor’s report upon completion of house construction
  • Assessor’s report and lawyer’s report of the land
  • Insurance premium receipt upon 80% completion of the house construction (before the disbursement of the final tranche)
requirement
Note

For the complete list of document requirements, please speak with one of our skilled home loan specialists at the nearest Yoma Bank branch.

Before you apply, please review the following information

Home Construction Loan Details

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Terms
Interest Rate13% per annum*
Loan AmountMin- 35mn MMK
Max- 1 bn MMK
Loan TenureUp to 25 years
Establishment FeesAt least 250,000 MMK (or) 1.5% of the approval loan amount (whichever is higher)
Down Payment (Land)50% of land value
Down Payment (Construction)30% of home construction cost
Eligible Story HouseMax- 3 ½ stories

* Rates may subject to change

Note

Important Notice to Customers – please note that the bank does not charge any additional fees for processing the loan application when using third-party channels. The bank is not responsible for payments to any third party appointed by the customer. Customers are strongly encouraged to communicate directly with the bank for all matters.

Important Info for Customers.

Terms & Conditions Apply

Home Construction Loan

Frequently asked questions

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The available loans are:

For more information, please contact Yoma Bank’s 24/7 call center – 9662 or 097 9662 9662 or Yoma Bank official Facebook page, or go to the nearest branch during operating hours. Don’t forget to bring your NRC/Passport.

Read all FAQs

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