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Be it big or small, new or second hand, get your commercial vehicle like truck, taxi, bus, LCV etc., financed from BoB. Easy process, quick disbursement and minimum paper work, make it smooth and easy.
ELIGIBILITY
Transport Loan is extended to the intending customers for purchase of vehicles such as excavator, trucks, buses/light vehicle/taxis etc. for personal as well as for commercial purposes.
INTEREST RATE
CLICK HERE to view the Floating/Prevailing interest rate.
QUANTUM
Classification
LTV
Commercial – Service Oriented (Truck and machineries such as Excavator, Bull dozer and pay loader)
50%
Non-commercial – Light vehicle
30%
Electric/hybrid vehicle/Passenger Buses
70%
TENURE
New Vehicle purchase
Tenure
Commercial Vehicle
5 years
Non-Commercial
5 years
Public Service – Passenger Buses
7 years
Tourism Transport
5 years
Two Wheeler – Bicycles, trek bikes
2 years
Two Wheeler Motor bikes
5 years
Electric/hybrid
7 years
SECOND HAND TENURE
Remaining tenure not exceeding 5 years. However, second hand for two Wheeler – Bicycles, trek bikes will not be accepted.
REQUIRED DOCUMENTS
A. Checklist for Transport Loan- Commercial
Application form duly filled by the applicant OR Digital Application in DLP BoBLoan;
Proof of identity for an applicant and guarantor;
Income proof to service the loan;
Copy of the Quotation/Invoice for new vehicles from authorized vehicle dealers;
Vehicle import authorization letter;
Award letter in case of Passenger buses – Public Service;
TCB letter and tour operating license in case of tours and treks – Tourism Transport;
Valid Import license for import of vehicles from third countries (other than India);
Copy of driving license in case the loan is availed for purpose of taxi operation;
Valid Trade license for hiring equipment (tippers/trucks/machineries/tractors/dozers and excavators) – Commercial;
Copy of Registration Certificates for second hand vehicles only;
Sale Deed agreement and Insurance copy in case of financing second hand vehicles;
Ownership certificate(s) of the mortgage offered to the bank;
Consent letter from the joint owner if the mortgage provided is joint ownership;
For family-owned land a copy of family tree and No Objection Certificate (NOC) letter from family members (18 years and above); and
Power of Attorney (POA) only in case of people residing outside Bhutan/unable to present themselves in the Bank.
B. Checklist for Transport Loan- Non-Commercial
Application form duly filled by the applicant OR Digital Application in DLP BoBLoan;
Proof of identity for an applicant and guarantor;
Latest Original Pay Slip of the applicant and guarantor (if applicable) dully filled, signed and sealed by salary disbursing officer;
Copy of the Quotation/Invoice for new vehicles from authorized vehicle dealers;
Copy of Registration Certificates for second hand vehicles only;
Sale Deed agreement and Insurance copy in case of financing second hand vehicles;