Find the answers you’re looking for

• Which supporting documents are required for my application?

  To verify your information and evaluate your application, you’ll need to provide certain documents. These may vary depending on your details and the loan type.

  Proof of Income

  Employees / Pensioners

  • Recent payroll
  • Social insurance statement (if required)
  • Pension confirmation (if applicable during the loan period)

  Self-Employed

  • Tax form
  • Recent financial statements
  • Social insurance statement or income certificate from an accountant/auditor
  • VAT statements (where applicable)

  Additional Income

  • Social benefits: recent remittance receipts or approval documents
  • Alimony: recent remittance receipts
  • Rental income: title deed, rental agreement, or recent receipts
  • Dividends/investments: company financial statements and accountant/auditor confirmation

  
  Proof of Securities

  Before Bank Decision

  • Sale agreement
  • For unfinished properties: architect/engineer certificate for cost and duration, title deed of current owner
  • For completed properties: sale agreement, acceptance of offer (if purchased from a debt acquisition company)

  After Bank Decision

  • Energy performance certificate (Category A for Green Loans)
  • Advance payment receipt (if applicable)
  • Property division agreement (if relevant)
  • Planning and building permits from the local authority
• Which interest rate works best for me?

  Fixed Interest Rate
  

  • Ideal if you want stability in your monthly payments.
  • Protects you from potential rate increases for a set period (3, 5, or 10 years).
  • You’ll know exactly what you’ll pay each month—great for financial planning.
  • After the fixed period ends, the loan switches to a variable rate.
  • For first-home or holiday-home loans, you can lock in a fixed rate for up to 25 years, ensuring complete predictability.

  Note: If market rates drop, the fixed rate won’t adjust.

  Variable Interest Rate
  

  • Suitable if you can handle fluctuations in monthly payments.
  • Lets you benefit from possible reductions in market interest rates.
  • Your instalment may increase or decrease during the loan term.

  What Influences Interest Rates?
  

  Rates change based on factors like:

  • Central Bank Monetary Policy
  • Inflation and economic growth
  • Market supply and demand for money
  • Global economic trends and investor expectations
• Do I get a Grace Period on my loan?

  Enjoy flexible repayment with an optional grace period.

  • Up to 12 months on the principal, or
  • Up to 12 months on both principal and interest if your property is under construction.
• Up to what age can I repay my loan?

  Your age at the end of the loan term should not exceed 65. If you can show that you’ll be able to repay beyond that age, you may qualify for a loan up to age 70. For joint applications, we consider the youngest applicant’s age, giving you more flexibility to meet your needs.

• Can I request a postponement of my instalments?

  If something unexpected happens, you can postpone up to 2 monthly instalments per year (up to 24 during your loan term). Approval is at the Bank’s discretion and subject to Terms & Conditions.

• What happens after I submit my application?

  Once you submit your application and provide all the required documents, you’ll receive a final decision within ________   days.
  
  If you apply online through our Digital Housing Loan, you’ll get notified right away—or within 24 hours—about your pre-approval, rejection, or referral to a Bank officer for further review.
  
  For more details, visit the Digital Housing Loans section.

  What happens after your application is approved?

  • A Bank officer will contact you with your binding letter of offer.
  • If you applied for a Digital Housing Loan, you’ll first receive the decision via SMS and a notification on Internet Banking / BoC Mobile app.

  You’ll have 15 working days to review the offer, compare options, and make an informed choice. You can accept the offer after 5 working days from receiving it.

  If you accept and the property valuation meets the Bank’s Lending Policy, you (and any guarantors) will sign the loan contracts.

  Once all contracts, guarantees, and conditions are in place, the loan will be granted according to the agreed terms.

• What if I decide to pay off my loan early?

  If you repay your loan early, either in full or by paying instalments ahead of schedule, the Bank may apply fees based on your interest rate type and the amount prepaid.

  For loans with a long-term fixed interest rate, early repayment costs can be significant. These costs depend mainly on interbank market rates (which change daily) and the date of repayment.

  For more details, feel free to contact a Service Officer at any branch. You can also check all charges in the Bank’s Schedule of Fees and Charges.

• What should I keep in mind when repaying my instalments?
  • Set up automatic payments from your account with written instructions.
  • Choose a payment date that works best for you—if it changes, just let any Bank branch know.
  • Keep in mind that late payments may lead to extra charges.
  • If your financial situation changes and you’re having trouble keeping up, contact us right away. We’ll work together to adjust your repayment plan to fit your new circumstances.
• What securities are needed for my loan?

  To protect both you and the Bank, you’ll need to provide the following:

  • First mortgage on the property being financed.
  • Sales contract assignment if buying from a developer or land company.
  • Life insurance covering the loan amount and term (or equivalent loan protection).
  • Home insurance against risks like fire, earthquake, natural disasters, and floods, with a clause in favour of the Bank.
  • Property valuation to confirm it meets the Bank’s policy.
  • If you’re married or in a civil partnership and applying alone, your spouse/partner must give consent and a personal guarantee.
  • Additional guarantees may be requested if necessary.