Aspiring students, studying within or outside Bhutan, can realize their dreams of a higher education and soar higher towards a brighter future!
ELIGIBILITY
- Any individual/student studying/attending conferences/online classes/vocational trainings/day care centers
QUANTUM
A. With Mortgage
- 70% of the value of the collateral but not exceeding 10,000,000.00 for student studying in India or abroad and Nu. 1,500,000.00 for student studying in Bhutan.
- For students opting for green and sustainable studies – The maximum LTV shall be 75% of the value of the collateral security or maximum financing limit whichever is lower.
- 90% of the cash collateral such as Term Deposits or lien on CASA accounts.
B. On Salary
- Government Departments (Bhutanese and expatriates), Autonomous Body, and SOE: 70% of LTI OR total tuition fee including other related expenses, whichever is lower.
GUARANTOR CONDITIONS FOR SALARY BASED
Regular Employees
- Applicant is required to provide guarantor of equal or higher grade from the same office or Ministry/other Ministries/DHI owned Companies/SOEs with minimum 3 years confirmed services.
- Guarantor is required if the applicant is less than seven years in service excluding probation period.
Contract Employees
- Applicant is required to provide guarantor of same or higher grade from the same agency or equivalent position from the Civil Service/DHI owned Companies/SOEs with 3 years or more in service.
INTEREST RATE
CLICK HERE to view the Floating/Prevailing interest rate.
TENURE
Maximum Ten (10) years inclusive of Two (2) years gestation period.
REQUIRED DOCUMENTS
A. Checklist for Salary based Education Loan
- Application form duly filled by the applicant or Digital Application in (DLP) BoBLoan;
- Proof of identity of the applicant, guarantor, and children;
- Offer letter or Confirmation letter of enrolment;
- Latest Pay Slip of the applicant and guarantor;
- Course completion certificate if seeking reimbursement facility;
- Copy of Service Appointment Order or Latest Promotion Order or Service Concern Letter of the applicant and guarantor; and
- Power of Attorney (POA) only in case of people residing outside Bhutan/unable to present themselves in the Bank.
B. Checklist for Collateral based Education Loan
- Application form duly filled by the applicant or Digital Application in (DLP) BoBLoan;
- Proof of identity of the applicant, guarantor, and children;
- Offer letter or Confirmation letter of enrolment;
- Course completion certificate if seeking reimbursement facility;
- Ownership certificate(s) of the mortgage offered to the bank;
- A consent letter from the joint owner;
- For family-owned land a copy of family tree and No Objection Certificate (NOC) letter from family members (18 years and above);
- Latest Pay Slip of the applicant and guarantor;
- Power of Attorney (POA) only in case of people residing outside Bhutan/unable to present themselves in the Bank.