Loans

Coronation Schemes

Education Loan
Purpose

To meet financing requirement for further studies.
Eligibility Parents/students/guardians that can provide adequate collaterals and guarantee. Employees with a minimum of 3yrs confirmed service and with guarantee.
Limit Up to 10 times the net salary incase the loan is not collaterals and guarantee.Employees with a minimum of 3 yrs confirmed service and with guaranteed
Interest 9% p.a
Coronation Scheme Bonus (7.5% for 1st yr,8.5% for 2nd yr )
Repayment period 5yrs
Repayment schedule EMI to commerce after 1 month of disbursement of the loan or the student has the option of continuing repayment after he/she finishes his/her studies and gets employed.
Security Fixed assets of the parents/guarantorIn case of employees, guarantee to be provided by the salary disturbing officers or an employee having same or higher grade.
Is NOC required from other FIs? YES
Other conditions Loans to be the name of parents/guarantor.
Pensioner Loan Scheme
Purpose General
Eligibility All Govt pensioners maintaining pension accounts with BOBL. Minors/survivors not entitled for the scheme..
Limit Maximum of Nu. 50000/- or 10 times pension amount (whichever is less).
Interest 10 % p.a ‚  
Coronation scheme Bonus (8.5 % for 1st yr, 9.5% for 2nd yr)
Repayment period 3 yrs
Repayment schedule EMI
Security Third party guarantee required if the loan exceeds Nu.20000/- with assured repayment source.
Is NOC required from others FIS YES
Others conditions Provide standing instructions by the borrowers to the Bank for transfer of loan installments from his/her pension saving account to the account.
What happens if the pensioner passes away during currency of the loan? The burden of the repayment falls on the nominee or the beneficiaries.
Disbursement One time disbursement may be availed only after all formalities are completed.
Ladies Plus Loan
Purpose General
Eligibility All ladies of 20 years and above
Limit Employed 100000 or 10 months salary which ever is less
Unemployed but guarantor good for amount involved Up to Nu.50000/-
Interest 10%  p.a
Coronation scheme Bonus (8.5% 1st year, 9.5% 2nd year)
Repayment period 3 years
Repayment schedule EMI (equated ‚  monthly installment )
Third party guarantor- who can qualify? Any person whose regular income is above Nu. 10000 per month
Security Third party guarantee
No collateral required
If guarantor is a business person Proof of net worth/assets/income tax slip
Is NOC required from other FIS YES