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Notification on ATM Withdrawal Charge
All customers are requested to note that cash withdrawals from other bank’s ATM machines are chargeable @Nu 9/- per withdrawal transaction from the sixth transaction onwards, and is recovered at each month end. This is a common charge across banks and as mandated by the Central Bank.
(Visa fee, Tuition fee & Living expenses for overseas studies)
Helping you finance your dream to study abroad. This loan is for aspiring students to help meet their visa fees, tuition fees, and living expenses.
ELIGIBLE COUNTRIES
Australia
Canada
United Kingdom
United States of America
ELIGIBILITY
Bhutanese individuals
LOAN CATEGORIES
Secured Education Loan
Unsecured Education Loan
AGE LIMIT
Secured Education Loan: 18 years and above
Unsecured Education Loan: 18 – 35 years
QUANTUM, TENURE & INTEREST RATE
Sl. No.
Loan Type
Amount (Nu.)
Tenure
Interest Rate
1
Secured
The amount equivalent to the requirement mentioned in the visa requirement letter of the specific country or Nu. 5.00 million, whichever is less.
Maximum 5 years, inclusive of a 3-month gestation
8.90% (p.a floating)
2
Unsecured
The amount equivalent to the requirement mentioned in the visa requirement letter of the specific country or Nu. 3.50 million, whichever is less.
Maximum 5 years, inclusive of a 3-month gestation
9.90% (p.a. floating)
REQUIREMENT
Checklist for Special Education Loan:
Special education loan form and undertaking letter duly signed by the applicant
One recent passport-size photograph of the applicant
CID copy of the applicant and spouse (if applicable)
Copy of offer letter from university/ Institute.
Copy of letter specifying the visa requirement amount / Visa requirement document.
Copy of Marriage Certificate
Additional Documents for unsecured education loan:
CID copy of his/her household members (If applicable)
Latest Net Taxable Income Certificate/letter from DRC of household members
Family tree/Birth Certificate of the applicant.
Family tree/Birth Certificate of Spouse (If applicable)
Land ownership letter for all household members from NLCs specifying the location, area, type, and PAVA value of the land.
Additional Documents for secured education loan:
Term Deposit Receipt (If applicable)
Ownership certificate of collateral security offered to bank. Branches must ensure and check properly the title of the ownership as per the Lag Thram (individual, joint, co-ownership, or family).
For joint and co-ownership land, a consent letter from the joint owner or co-owner should be obtained (If applicable).
For family-owned land – A copy of the family (household) register issued by the Department of Civil Registration and Census, MoHCA, and a NOC letter from family members (18 years and above) (If applicable).
Valid insurance copy of the collateral securities charged in case of buildings.
Stamped and witnessed Letter of Consent for extension of charges duly signed by the property owner (if applicable).
Note:You are required to bring the original copies of all the documents for verification by the Bank of Bhutan Limited.