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Personal Mortgage Loan

☆ Introduction
A loan released by ICBC for borrower, which is mortgaged by real estate, for the purposes of  buying car or Real Estate, consumption, business operation and other private uses.

☆ Features
1. Two choices: "Mortgage", "Mortgage with a maximum amount".
2. The longest tenure of the Loan can be up to 15 years.
3. The maximum amount of the Loan can be up to 50% of the evaluated value of the mortgaged real estate.
4. The interest rate can be adjusted according to the credit condition, repayment capacity and overall contribution of the borrower.
5. The repayment method can be monthly Straight Line Repayment, monthly Reducing Balance Method, monthly Installment Repayment on Int and One-time Repayment on Principal.

☆ Application Conditions
1. Natural Cambodian Citizens with full civil capacity of age between 18 (inclusive) and 65 (exclusive) years old;
2. Holding legal ID document, having permanent address and stable job, proof of permanent residency (or proof of residence) in the city, certificate of marital status or proof of non-marriage;
3. Good credit history, willing to repay;
4. Stable source of income and ability to repay all principal and interest of loan when due;
5. Definite, legitimate and compliance usage;
6. Affording to pay the down payment of the car or real estate;
7. Full value collateral with valid rights recognized by ICBC provided;
8. Other conditions stipulated by ICBC.

☆ Application documentation
1. Application Form for Personal Mortgage Loan
2. ID card of the borrower and his/her spouse, certificate of permanent residence in the city where the loan is applied, or proof of residence, certificate of marital status or proof of non-marriage;
3. Proof of personal income (personal tax payment, salary and wages, leasing and investment income, proof of financial assets in ICBC or in other bank within the last 6 months);
4. Proof of loan purpose (purchase contract or agreement, housing renovation contract, deposit receipt for the down payment and others);
5. Other documentation stipulated by ICBC.

☆ The above is for reference only. Details refer to the rules drawn up by ICBC Phnom Penh Branch. To save your time, please consult ICBC Phnom Penh Branch before applying for the service.