Does the term of finance vary for different purpose of financing?
The term of financing provided by BBK varies based on purpose of financing. The minimum term for financing is 5 years. The maximum permitted term available for variable rate financing is given below: Purpose Residential Commercial For purchase of Land Up to 15 years Up to 10 years Purchase of Property Up to 25 years Up to 20 years Please note that the life of the Property should not exceed 30 years at maturity of the loan. Please note that the same terms and conditions will be applied for loan against property. • How much financing does BBK provide? For individual customers, BBK provides up to 90% of the land value and up to 80% for the Property value. This is of course, subject to BBK’s terms and conditions. The details of the required down payments is as follows: Purpose Bahraini National (who is a resident) Other GCC Residents and non-Bahrainis residing in the GCC For purchase of Land 10% 15% Purchase of Property 20% 25% • What is maximum amount of finance offered per customer? BBK
