The Miyazaki Bank, a regional bank headquartered in Miyazaki City, is now offering home loans with a 50-year term. This is an attempt to keep monthly repayments affordable as construction and home prices continue to rise.
The maximum age of the borrower upon loan maturity will be 92 years, 10 years longer than the group life insurance limit, making this an unusual option.
Interest rates will be the same as the other home loan products offered by the bank. Loans will range from 1 ~ 200 million Yen, and can be used for purchasing existing homes and for refinancing.
Source: The Miyanichi Press, October 6, 2022.
