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Transport Loans
We have been financing the purchase of Commercial
and Personal Vehicles since 1992. Today the total
outstanding portfolio stands at Nu.213,508,447.11
as of 01/10/2007.
Lending Policy:
A)
) Purchase of Light Vehicle for Commercial use(Taxi):
- Application Fee: Nu.100/- for every application
- Interest rate : 14%
- Repayment mode : Monthy
- Maximum term : 5 years
- Penalty rate : 5 % penalty would be levied
for an amount of defaulted installments.
B) Purchase of vehicle
by Govt. Employees for personal use:
- Interestrate : 12%
- Repayment mode: Monthly
- Maximum term : 5-7 years
- Penalty rate: 5% penalty the 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.
- The Quota holder must sign a "Letter
of Authorization"
- 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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