When you need money in a hurry or during an emergency, trust Bank of Bhutan to extend a helping hand with its Overdraft Loan facility. This is a short term loan and comes with hassle-free documentation and easy fund access.
ELIGIBILITY
- All types of whole sellers and retailers and individual with sufficient collateral security.
QUANTUM
60% of total value of stock, book debts and fixed assets may be considered as the permissible limit depending on the past track record and repayment capacity.
INTEREST RATE
CLICK HERE to view the Floating/Prevailing interest rate.
TENURE
Period of 1 year subject to review/renewal.
CHECKLIST FOR OD TO TRADERS/WHOLESALERS & RETAILERS
- Application form duly filled by the applicant OR Digital Application in BoBLoan;
- Proof of identity for an applicant and guarantor;
- Copy of the Quotation/Invoice (for stock purchase);
- Copy of valid trade license;
- Copy of tax clearance certificate;
- Copy of insurance of stock and building;
- Statement of stock & book debts, sundry creditors as on a recent date (for an existing business);
- For micro and small businesses – Sales and Purchases report for the past 12 months and projections for 1 year. For medium and large businesses – Profit and Loss, Cash flow and Balance sheet;
- Ownership certificate(s) of the mortgage offered to the Bank;
- Consent letter from the joint owner if the mortgage provided is joint ownership;
- For family-owned land a copy of family tree and No Objection Certificate (NOC) letter from family members (18 years and above); and
- Valid insurance copy of the collateral securities charged in case of buildings.