Apply for Education Loan : Bank of Bhutan

Organization : Bank of Bhutan
Facility : Apply for Education & Festival Loan
Country : Bhutan

Website : https://www.bob.bt/personal-banking/loans-pb/education-loan/

Apply for Education Loan :

Launch a rewarding career with Bank of Bhutan Education Loan! Aspiring students, studying within or outside Bhutan, can realize their dreams of a higher education and soar higher towards a brighter future

Related : Mobile & Agency Banking Bank of Bhutan : www.statusin.org/27307.html

Eligibility :
** Students studying in private Schools/Colleges in Bhutan, India & Third Countries
** Individuals on self study
** Parents/guardians (consent letter from the parents, if applicable)

Quantum :

Interest Rate :
7.86% (Floating), 9.58% (5 Years Reset) and 9.86% (Fixed Rate)

Tenure :
7 years

Required Documents :
** Education Loan application duly filled in by the applicant
** 1 passport sized photograph
** CID copy of applicant

** CID copy of children if 15 years and above
** Provisional admission or latest academic admission of the university/college
** Latest progress report of the student
** Fee structure

The following documents are to be submitted on the provision of the collateral :
** Ownership certificate of collateral security offered to bank
** Property valuation/assessment certificates/drawings of buildings conducted by BoBL’s engineer
** 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)
** Letter of Consent (if applicable) if guaranteed

** Proof of income to service the loan – rental income statement signed by the tenants and the landlord/BIT/PIT/Salary Slip duly certified by the Department concerned

** Letter from the applicant that rental income will be tied up for payment of loans (if applicable)

If repayment is tied to the salary the following documents are to be submitted :
** CID copy of guarantor (equal or higher grade with three years of confirmed service from same department)
** An irrevocable letter of authority from the applicant to his employer for deduction of monthly loan installment from salary

** An irrevocable letter of authority from the employer to deduct the monthly loan installment from salary of applicant and remit to bank

** Latest Pay Slip of the applicant(s) and guarantor dully filled by salary disbursing officer, signed and sealed by salary disbursing officer & recommendations

Festival Loan :
** Don’t miss out on the fun and frolic of festivals. Opt for BoB Festival Loan to shop for clothes, gifts, sweets and groceries. Bring back the cheer and celebrate in style.

Eligibility :
** Government/Corporate/Private Sector employees with 2 years of minimum PF of confirmed services
** Self employed person who can show adequate proof of income

Quantum :
** Nu. 400,000/ subject to 30% take home pay whichever is lower.

Interest Rate : 9.80% (Floating)
Tenure : 5 years maximum

Required Documents :
** Application form duly filled by the applicant
** Proof of income tax and source of income
** One recent passport size photograph of the applicant
** CID copy for both the applicant and guarantor

** An irrevocable letter of authority from the applicant to his employer for deduction of monthly loan installment from salary
** Latest Pay Slip of the applicant(s) and guarantor dully filled, signed, and sealed by salary disbursing officer & recommendations

** An irrevocable letter of authority from the employer to deduct the monthly loan installment from salary of applicant and remit to bank
** Appointment order for both applicant and guarantor
** Declaration form must be signed and attached along with the application form

Further Information :
Call us on: 1095
Write to us at: customer.care AT bob.bt
Request Callback : +975

Corporate Office :
Babesa, Thimphu Bhutan
Bank of Bhutan
Post Box No.102
PABX: (+975-5): 02-334333
Fax: (+975-5): 02-334296, 337271