Transport Loan

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

9.07% (Floating)

Tenure

  • 5 years

  • For second hand vehicle: 3 years maximum

Required Documents

  • Loan application form duly filled by the applicant

  • Copy of CID of both the applicant and the guarantor

  • One recent passport size photograph of the applicant

  • Copy of the Quotation/Invoice for new vehicles from authorized vehicle dealers

  • Award letter in case of passenger buses

  • TCB letter and tour operating license in case of tours and treks

  • Valid import license for import of vehicles from other countries (other than India)

  • Valid Trade license for hiring equipment (tippers/trucks/machineries/tractors/dozers and excavators)

  • Copy of Registration Certificate for second hand vehicles only

  • Sale Deed agreement (in case of financing second hand vehicles)

  • Guarantor details, if any

  • Ownership certificates of collateral security offered to bank

  • Letter of Consent, stamped and witness for extension of charges duly signed by the property owner (applicable only for fixed assets)

  • Proof of income to service the loan – verified rental income by way of rental receipts, BIT, etc.

  • Valuation certificates from established workshops in Bhutan (in case of financing second hand vehicles)

  • Copy of valid Insurance Policy (in case of second hand vehicles)

  • The age of the vehicle should not be more than 2 years (in case of second hand vehicle)