The home of your dreams can now be yours with Bank of Bhutan Housing Loans. Build your dream home without facing any financial hardships.
- All Bhutanese Nationals with sufficient collateral and repayment source.
- Commercial housing loan: 80% of building estimates and 70% of building estimates which exceed 50 million.
- Non-commercial (home) loan: 90% of building estimates.
- For renovation: 50% of the renovation cost.
- Takeover loan: Loan Outstanding with other FIS.
Floating/prevailing interest rate
- Application form duly filled by the applicant and signed on all the pages (full signature).
- Copy of valid Citizenship Identity (CID) of both the applicant and guarantor (if applicable).
- One recent passport size photo of the applicant.
- Approved drawing plan of the building and a copy of approval letter for construction from concerned authority.
- Expected rental income for new construction or proof of income to service the loan – rental income statement and BIT/PIT/Salary Slip duly certified by the Department concerned.
ADDITIONAL CHECKLIST IF THE REPAYMENT IS TIED UP TO SALARY
- Appointment letter for applicant and guarantor (if applicable).
- Latest payslips of applicant and guarantor (if applicable).
- Non e-PEMS – Latest pay slip of the applicant(s) duly signed and sealed by salary disbursing officer & recommendations.
ADDITIONAL CHECKLIST IF IMMOVABLE COLLATERAL IS PROVIDED
- Ownership certificate(s) of the collateral security offered to the bank.
- Consent letter from the joint owner or co-owner if the collateral provided is joint/co-ownership.
- A copy of family tree – For family-owned land, family (household) register issued by Department of Civil Registration and Census, Ministry of Home and Culture Affairs (MoHCA) and a copy of No Objection Certificate (NOC) letter from family members (18 years and above (if applicable).
- Sale Deed agreement in case of purchase of already constructed building/flat.
- Power of Attorney (POA) given by the rightful owner for execution of loan documents may be accepted only in case of people residing outside Bhutan/unable to present themselves in the Bank. However, it should be witnessed by a person having a good track record with the bank. For acceptance of POA, refer to the following Guidelines on issuance of Power of Attorney by the client.
- POA issued by an Individual has to be special or Limited POA issued for one-time financial or banking transaction;
- POA isssued by an individual has to be issued to a family member(Transaction pertaining execution of Legal documents, agreements);
- An Individual issuing a POA to a person has to specify the purpose for which the POA has been issued.The POA issuer has to fill up Bank’s POA form witnessed by a Bank’s client having a good track record