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AYA Bank introduced recently concerning loan system for above 20 years old local citizenship who have regular income to buy the property. Under this program, while buying the property firstly 30 percent of the price has to be paid and for the remaining, the increase rate will be 13 percent.
The payment can be done within the 15 years. The detailed program of loan money has asked to Myanmar times by U Myint Zaw, Managing Director of AYA Bank.
While home loan money system started let’s do first renting a house. Whom will you rent the house? We, Young peoples, Chairman U Zaw Zaw discussed about it and we think of reasonable price. What it means by reasonable price? And when? Wanted to talk abour loan money system.
Normally, it Cash down. For example, if 300 lakhs kyats worth an apartment is 30 percent then we paid 100 lakhs kyats. 200 Lakhs Kyats has remained. Original it was 2 million in only five years. It is 60 months. Their increase and income will not be sufficient.
When he think if he can pay for 15 years then how much will have to pay? 300 Lakhs Kyat worth have been paid from his collection, and if he pay the remaining 200 lakhs kyats for 15 years then there will be no burden.
