WHAT DO I GET FROM THE FUND?
Financing can be offered either COF or BLR and fixed or floating rate depending on the source of fund.
E.g. BLR + 2.70% and the effective rate will vary in accordance to the periodically changes in BLR.
WHAT ARE THE FEES AND CHARGES I HAVE TO PAY?
- Stamp Duties as per the Stamp Duty Act 1949 (Revised 1989)
- Processing Fee
- Bank Guarantee Fee
- Letter of Credit Fee
- Commitment Fee
- Letter of Credit Fee
- Changes to the Letter Offer Fee
- Change in Availability Period Fee
- Administration Fee
*Fees and charges shall apply to whenever applicable.
WHAT IF I FAIL TO FULFILL MY OBLIGATIONS?
1.0% per annum above the prescribed rate or such other rates to be determined at the sole discretion of BPMB, in respect of late payments of principal, interest and any other monies covenanted to be paid accruing from the due date up to the date of settlement in a year of 365 / 366 days.
WHAT IF I FULLY SETTLE THE FINANCING BEFORE ITS MATURITY?
You are allowed to make prepayment in full and you are advised to give a notice of not less than three (3) months prior to the intended date of prepayment.
WHAT ARE THE MAJOR RISKS INVOLVED?
The interest rate for conventional financing is variable and it may change according to changes in the reference rates. An increased rate may result in higher monthly repayment.
DO I NEED A GUARANTOR/SECURITY/COLLATERAL?
Yes. Among the security requirement include project assets, debenture, assignment of concession agreement/ project account/ insurance policy, debenture, guarantee etc. depending on the type of project and financing.
The Guarantor as surety shall be liable to BPMB as creditor for the default committed by the Customer being the principal debtor.
DO I NEED INSURANCE FOR THE FINANCING?
Yes. Takaful/Insurance coverage may be required to cover the subject matter of BPMB’s financing e.g. project, shipping, building etc.
BPMB’s may be named as the loss payee/beneficiary in the Takaful/Insurance policy.
BPMB may take the Takaful/Insurance as part security via Assignment of Takaful/Insurance Policy pursuant to the financing granted by BPMB.
WHAT DO I NEED TO DO IF THERE ARE CHANGES TO MY CONTACT DETAILS?
It is important that you inform us of any change in your contact details to ensure that all correspondences reach you in a timely manner.
WHERE CAN I GET FURTHER INFORMATION?
If you have any enquiries, please contact us at:
Bank Pembangunan Malaysia Berhad (16562-K)
Menara Bank Pembangunan
No 1016, Jalan Sultan Ismail
50250 Kuala Lumpur.
If your query or complaint is not satisfactory resolved by us, you may contact Bank Negara Malaysia LINK or TELELINK at:
Block D, Bank Negara Malaysia
Jalan Dato’ Onn, 50480 Kuala Lumpur
Fax: +603 2174 1515
IMPORTANT NOTE :
LEGAL ACTION MAY BE TAKEN AGAINST YOU IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR FINANCING.
The information provided in this disclosure sheet is updated on 13/2/2014