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.

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

ELIGIBILTY

  • All salaried employees with Provident Fund(PF)/ Gratuity

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).
  • Spouse can stand as guarantor. However, if the applicant is a private or contract employee, then the spouse should be a regular employee of Government/DHI Owned companies.
Sl. NoEligible BorrowerGuarantor requirement
1Regular employeese-PEMs and Non-ePEMs (EMI remitted from the office)
✓ Guarantor is not required if the applicant is in service for more than 3 years excluding probation period.
✓ Guarantor is required if the applicant is less than 3 years in service excluding probation period.
✓ The guarantor should be equal or higher grade with 3 years or more in service.
✓ For senior officials and executive officials who cannot provide guarantor of same grade shall provide guarantor of one or two grades lower.
2Contract employees✓ All the borrowers are required to provide Third Party Guarantee (TPG) of same or higher grade from the Civil Service/ DHI owned Companies/ State Owned Companies (SOEs).
✓ For senior officials and executive officials who cannot provide guarantor of same grade shall provide guarantor of one or two grades lower.
✓ The guarantor must be regular employee or their contract term should be equal or more than the loan tenure. Otherwise, the loan tenure should be equivalent to their contract tenure.
3Private employees All the borrowers are required to provide 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.
4BoB Corporate client employees (with Corporate Banking Department)Irrespective of the requirement of PF, gratuity, and the number of years in service, the borrowers are required to provide employer guarantee.

(To be consulted with the Corporate Banking Department)

QUANTUM

1. Regular Employees

In ServiceAmount Eligible (Nu.)
6 to 12 months (including probation period)100,000.00
Above one to 3 years (confirmed service excluding probation period)300,000.00
Above 3 years (confirmed service excluding probation period)500,000.00
The maximum regulatory limit is Nu. 500,000 per person at a time or 70% LTI whichever is lower.

2. Contract Employees

In Service Amount Eligible (Nu.)
3 to 12 months (confirmed service)200,000.00
Above one to 5 years confirmed service or contract term whichever is lower.500,000.00

3. Private Employees

In Service Amount Eligible (Nu.)Conditions
12 months (confirmed service)100,000.00Limit computation will be 1.5 times the PF accumulation of the applicant but the slab has to be followed as per their service in the company whichever is lower.
Above one to 3 years (Confirmed service excluding probation period)200,000.00
Above 3 years (Confirmed service excluding probation period)500,000.00

4. BoB Corporate Client Employees with Corporate Banking Department

In ServiceAmount Eligible (Nu.)Conditions
Confirmed service excluding probation periodMaximum
500,000.00
Conditions – Employer recommended amount or 70% LTI whichever is lower.

INTEREST RATE

CLICK HERE to view the 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.