Caution

If you receive any calls (except from BoB Contact Center when you have lodged a concern with them +975 2 349903), SMS and email asking for personal details such as account number or ATM card number, please do not share. Bank of Bhutan will never ask for personal details of clients. It’s all spam.

Notification on ATM Withdrawal Charge

All customers are requested to note that cash withdrawals from other bank’s ATM machines are chargeable @Nu 9/- per withdrawal transaction from the sixth transaction onwards, and is recovered at each month end. This is a common charge across banks and as mandated by the Central Bank.

BoB provides timely long term financial assistance for setting up of new manufacturing units & service industries in the sectors of hospitality, entertainment, education, IT, tourism or for expansion of existing units/industries at attractive rate of interest.

ELIGIBILITY

  • All individuals/companies engaged in any type of manufacturing/service-related activity or units having satisfactory operational record/ history and have complete financial statements are eligible for this kind of loan.

QUANTUM

  • Maximum 75% of the total project cost.

INTEREST RATE

TENURE

  • Maximum of 20 years (excluding gestation period of 5 years)

CHECKLIST

  1. Application form (new clients)/Application letter (existing clients) duly filled in and signed on all the pages (Full Signature).
  2. Copy of valid Citizenship Identity (CID) of both the applicant and the guarantor as applicable. (general)
  3. Acknowledged copy of BoBL’s Term sheet
  4. One recent Pass Port size photograph of the applicant/optional for corporate/existing client(general)
  5. Detail project report – the report should include the following information
    A. The proper description of the project/business
    B. Proper project cost break up
    C. Details of Promoter (Proposed Shareholding of the business)
    D. Details of Consultants /FDI(if any)-
    E. Location details of the project – Pictures to be emailed
    F. Financial & Investment details (Means of Financing the project)
    i. Debt Equity Ratio
    G. Loan Security and Project Viability
    H. Total numbers of rooms and types of rooms (working days in a month and a year)
    I. Details of Services and product line
    J. Project GANNT chart
    K. Human Resources- Management Analysis
    L. Markets/Industrial Analysis
    i. SWOT Analysis
    ii. Pestle Analysis
    iii. SAM/TAM/TOM
    iv. Critical Success factor
    v. Details of competitors
    M. Impact on Environment
    N. Audited financials for the past 3 years for an existing business.
    O. Financial Details- Proper breakup
    i. Income source analysis (Installed Capacity)
    ii. Details of expenses
    iii. Power cost analysis
    iv. Administration, selling, and other fixed expenses
    v. Depreciation schedule
    vi. Interest on Loans
    vii. Preliminary & Pre-operative expenses
    viii. Financial statements for proposed loan tenure (profit & loss a/c, cash flow statements, balance sheet & changes in equity statement)
    ix. DSCR
    x. BEP analysis
    xi. IRR
    xii. NPV analysis
    xiii. Pay-Back period
    xiv. Interest During Construction /Interest Provisioning
    xv. Term loan payments and periodic interest schedules
    xvi. Working capital loan payments and periodic interest payments schedules
    xvii. Working Capital requirement
  6. Credit policy
  7. Valid Trade License
  8. Certificate of Incorporation
  9. Articles of incorporation
  10. Endorsed FDI agreement by ROC
  11. Work permit/ copy of residence permit(non-citizen)
  12. Bank statement of latest 6 months/ statement of foreign currency account if any
  13. Project Approval letter from TCB /DOI/concerned Authority
  14. Construction approval letter from Concerned authority and Approved drawing
  15. NEC Clearance Certificate
  16. Tax Clearance if applicable
  17. Details of loans with other FIs if any
  18. Letter from BPC for Power Supply
  19. Technical clearance from TCB of the drawings for the construction
  20. Estimates for Civil Works/Quotations for machinery & miscellaneous fixed Assets- proper break up along with quotations/invoices
  21. Ownership Certificate of the land/lease agreement etc.
  22. Technical Collaboration Agreement/Technical Know-How Agreement.
  23. Letter assuring release of foreign exchange from Ministry of Trade and Industry in cases involving import of machinery/raw material/vehicles.
  24. Insurance Details
  25. Copy of Lagthram (Provisional if original Lagthram is not there)
  26. Board Resolution/ Power of Attorney
  27. Sovereign guarantee / any guarantee, the letter from the concerned authority to be submitted.