Transport Loans
We have been financing the purchase of Commercial
Vehicles since 1992. Today the total outstanding
portfolio stands at Nu.121,809,273.85 as of 01/10/2007.
Lending Policy:
A)
For purchase of Heavy Vehicle:
- Application Fee: Nu.100/- for every application
- Interest rate: 13%
- Repayment mode : Monthly
- Maximum term : 5 years
- Penalty rate : 5 % penalty would be levied
for an amount of defaulted installments.
Eligibility criteria:
- Should be a Bhutanese citizen.
- Must have RSTA approval if the vehicle is
to be purchased from authorized Indian dealer.
- Generally, client must have 50% of cost of
vehicle as equity contribution
- Departmental Undertaking must be submitted
if repayment is to be made from salary.
- Cash flow/Profit & Loss statement & copy of
Trade License must be submitted if repayment
is to be made from Business Income.
- Comprehensive Insurance is a MUST
Credit Process:
Step 1 : Application form is available
free of cost. You will be required to fill in
your basic information & loan proposal in this
form. The form should be supported with all documents
prescribed under Eligibility Criteria and other
documents such as a copy of Identity card & two
nos. of passport size photo.
Step 2 : With Step 1 documents, you will be
required to approach the credit Officer to review
your documents/discuss & Appraise your proposal.
Step 3: On acceptance of your proposal, Loan
clearance from other Financial Institution viz.
BOB, BDFC, NPPF and RICB will be sought. The maximum
period for obtaining loan clearance is one week
after which we commence our loan appraisal to
the loan committee. Following the above the BNB's
actual appraisal and approval time would take
half a day at the maximum. The loan committee
is consists of Appraisal officer legal officer,
Dy. Credit Head, Credit Manager and Dy. Managing
Director and the Managing Director.
To
download Loan Aplication Form click below:
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