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Interest Rate

The Kina Standard Home Loan has a rate of just 6.40% p.a., which is offered as a standard variable rate.

Repayment Frequency

The standard repayment structure is set to monthly repayments, but we can also tailor the repayment schedule based on your income. This will be determined at the time of your application.

Set Up Fee

There is a flat, one-time loan establishment fee of PGK1,000 that’s paid once the loan is finalised.

Servicing Requirement

The total loan commitment cannot exceed more than 30% of your salary. If you’re applying as joint applicants, then both incomes will be used when working out servicing requirements.

What about the other fees?

Good question. Like similar home loans, there are some charges associated with the Kina Standard Home Loan.

Frequently Asked Questions
What is a Kina Standard Home Loan?

A Kina Standard Home Loan is a loan for owner-occupiers. That means you intend to live in the house you’re purchasing, building or renovating. It will become your principal place of residency upon settlement or completion of your building works. The Kina Standard Home Loan has a set minimum loan amount of PGK20,000, but it does not have a set limit to which you can borrow. Borrowing capacity is based on your income and this is determined when going through your servicing. The maximum loan term is 30 years.

How do I apply for a Kina Standard Home Loan?

Applying for home loan can be daunting. There is definitely a lot to consider. The good news is that our lending team are with you every step of the way. To apply for a Kina Standard Home Loan we split the process into 6 easy steps:

1. Talk to us.
We will explain what a pre-approval is, how much you can borrow and detail the costs involved in obtaining a loan. We take pride in making sure there are no hidden fees when it comes to applying for a loan.

2. Get your deposit together.
To apply for a Kina Standard Home Loan, you must have a minimum of 10% of the purchase price saved as a deposit. There are a number of ways you can build your deposit:

i. Accumulate cash savings
ii. Access your housing eligibility funds via your superannuation provider
iii. Raise finance against an unencumbered property to purchase your new property.

3. Commence your house hunting
Once you’ve found a property, work out how much you can pay based off your conversations with your lending partner.

4. Sort the paperwork
Once you’ve put an offer on the property and pre-approval is granted, it’s time to get the do the paperwork. You’ll need to sit down with both your lawyer and banker to arrange all of this. This is the point where you will get your formal approval from the bank.

i. Complete your application form.
ii. Arrange with your lawyer and vendor the contract of sale. You must provide a copy to your banker.
iii. Arrange the 10% deposit.
iv. Arrange insurance quotes for home and contents. Kina Bank works with a panel of insurance firms and we can guide you through these steps if needed.

5. Sight the legal documents
Once you’ve received approval from the bank, you will receive a mortgage document which you can sign. Once you’ve signed it please return it to your banker.

6. Finalise settlement

Once you’re done this, collect your keys and move in!

What are forms of primary ID?

When applying for a new account, you will need to have 2 forms of primary ID. We classify primary ID as:

  • Passport (foreign passport must include a copy of your entry permit)
  • Driver’s licence
  • Employment ID card with employment confirmation letter
  • Current student ID and confirmation letter from your tertiary provider
  • Superannuation membership card
  • PNG work permit with Labour & Industrial Relations letter
  • PNG Government issued photographic Licence and or Permit
  • National Identity card issued by NID office

*All forms of ID must be valid. Any expired ID won’t meet the ID requirements and as such we won’t be able to accept the ID. If you don’t have 2 forms of Primary ID, please call us on +675 308 3800 or 180 1525.

What are the features of a Kina Standard Home Loan?
  • Loan sizes start from as low as PGK20,000
  • No upfront application fee
  • Loan terms range from 1 year to 30 years
What are the fees and charges attached to the Kina Standard Home Loan?

All of our fees and charges can be found in the Kina Bank Fees Schedule, see it here.

What is the repayment structure of the Kina Standard Home Loan?

The repayment structure is principal and interest. If you’re employed, the repayments will come directly from the account that your salary is paid into. If you’re self-employed, the repayments will be taken from your primary transaction account.

Do I need to be a Kina Bank customer to apply for a Kina Standard Home Loan?

Yes. Repayments must be drawn from a Kina Bank account

Can I set up a redraw facility with my Kina Standard Home Loan?

Yes, but advance payments can only be redrawn for payment of the annual insurance renewal premium, where applicable.

Are there monthly account fees when I take out a Kina Standard Home Loan?

Yes, you will be charged PGK10 each month.

What is the minimum age requirement to apply for a Kina Standard Home Loan?

You must be at least 18 years of age.

What loan amounts and terms do you offer with the Kina Standard Home Loan?

The Kina Standard Home Loan is set up to offer you the opportunity to borrow as little as PGK20,000, but there is no maximum borrowing limit set. The limit will be determined against your salary. The minimum loan term is 1 year and the maximum loan term is 30 years.

Do I need to have a job to apply for the Kina Standard Home Loan?

Yes. When you submit your application, you will need to show proof of employment. If you’re employed, you need to have a minimum of 6 months’ employment and if you’re self-employed you must have been working for a minimum of 2 years.

I need more information, who can I speak with about the Kina Standard Home Loan?

You can call us on +675 308 3800 or 180 1525 and our friendly team will help you get the information you need.

Important Information
Fees and limits schedule
Application Form

Still have questions?

Call Toll Free on 180 1525 or +675 308 3800

Or email us on kina@kinabank.com.pg

Kina Standard Home Loan Kina Fixed Home Loan Kina Prime Kina Residential Property Investment Loan Kina Fixed Rate Residential Property Investment Loan
Variable Interest Rate
Prime Relationship Advisor
Fee-free Prive Visa Debit Card
Flexible Repayment Frequency
3 year Fixed Interest Rate
Set Up Fee
For owner occupiers
For property investors
Not Applicable