Consumer Loan

Conveniences and small luxuries make life enjoyable. Consumer Loan is an easy finance option for purchasing household items.

ELIGIBILITY

GUARANTOR REQUIREMENT

General condition for guarantor applicable to all the eligible employee

Shall be Bhutanese Nationals and regular employee and shall stand liable for the loan till the liquidation of the loan.
Shall not stand as guarantor for more than three active loans (salary-based).
A spouse can stand as a guarantor for his/her spouse. However, if the applicant is a private or contract employee then the spouse should be a regular employee of Govt./DHI Owned companies.
The guarantor should be in the service for 3 years or more.

Sl. No	Eligible Borrower	Guarantor requirement
1	Regular employees	1. e-PEMS A guarantor is not required. 2. Non-e-PEMS (EMI remitted from the office) A guarantor is not required if the applicant is in service for more than 3 years including the probation period.A guarantor is required if the applicant is less than 3 years in service. The guarantor should be equal or higher grade from the same office/Ministry. For senior officials and executive officials who cannot provide guarantors of the same grade from the same organization/ministry shall provide guarantors of one or two grades lower from the same organization/ministry.
2	Contract employees	All the borrowers are required to provideTPG of the same or higher grade from the same agency or equivalent position from the Civil Service/DHI owned Companies/SOEs.For senior officials and executive officials who cannot provide guarantors of the same grade from the same organization/ministry shall provide guarantors of one or two grades lower from the same organization/ministry.
3	Private employee	All the borrowers are required to provide an employer guarantee or TPG from a civil service/DHI-owned Companies/SOEs. However, the private company should be in operation for more than 5 years.

QUANTUM

Sl. No.	SERVICE DURATION	MAXIMUM AMOUNT ELIGIBLE (Nu.)	CONDITIONS
1	Regular Employees
	6 to 12 months (including probation period)	100,000.00	Subject to fulfilment of 70% LTI
	Above one to 3 years confirmed service	300,000.00
	Above 3 years confirmed service	500,000.00
2	Contract Employees
	3 to 12 months (confirmed service)	200,000.00	Subject to fulfilment of 70% LTI
	Above one to 5 years confirmed service or contract term whichever is lower	500,000.00
3	Private Employees
	12 months (confirmed service)	100,000.00	Limit computation will be 1.5 times the PF accumulation of the applicant or as per the slab whichever is lower subject to fulfilment of 70% LTI.
	Above one to 3 years confirmed service	200,000.00
	Above 3 years confirmed service	500,000.00

INTEREST RATE

Floating/Prevailing interest rate.

TENURE

5 years maximum

REQUIRED DOCUMENTS

Application form duly filled by the applicant and signed on all the pages (full signature) – For walk-in customers only.
Copy of valid Citizenship Identity (CID) of both the applicant and guarantor (if applicable).
One recent passport-size photo of the applicant.
The latest original pay slip of the applicant and guarantor (if applicable) duly filled, signed, and sealed by the salary disbursing officer & recommendations.
Copy of appointment order or promotion order of the applicant and guarantor (if applicable).
Recommendation letter duly signed and sealed by Head of Department, salary disbursing officer, and the applicant.