Employee Loan
If you are a government employee and would like to invest in things that you care about, you are at the right place. We initiated the government employee loan scheme in 1997 and has been one of our most successful ventures over the years.
For borrowers availing Employee Loan in Thimphu, kindly visit our Extension Office at Motithang.
Eligible Borrowers:
Employees of Government
Armed Forces
Corporations
International Organizations
NGOS
Private Companies
Monastic Body with Regular Pay
Eligibility Criteria and Limits
| Organization | No. of years in service | Max loan amount | Guarantor required |
|---|---|---|---|
| Government, Armed Forces, Govt. Corporations, Listed Companies, NGOs, International Organizations, and Monastic Body | During probation period | Nu. 50,000 | Yes |
| After probation till 3 years | Nu. 300,000 | Yes | |
| 3 years and above | Nu. 500,000 | No | |
| Private Companies (Not Listed) | After probation till 3 years | Nu. 100,000 | Yes |
| 3 years till 5 years | Nu. 300,000 | Yes | |
| 5 years and above | Nu. 500,000 | Yes | |
| Contract Employees (Management Level) | Nu. 500,000 | Yes |
Undertaking Form
Undertaking forms for following categories of borrowers:
- Undertaking form – Government Employees & Armed Forces
- Undertaking form – Private Companies (not listed)
- Undertaking form – Others
Loan Insurance
Optional for all borrowers.
Guarantor Requirement
- Must be an employee of a government, corporation, NGO or international organization with minimum 5years of service OR
- Proprietor of the private company/ seniors with minimum5 years of service in the same company.
- Proprietor can guarantee for more than one person.
- Employee of a private company may guarantee but he/she must not have guaranteed for any other salary-based loans from any organization.
- Guarantors must be a PF member (not applicable for proprietors).
Installment Deduction
For government employees & armed forces with e-PEMS facility, installment shall be deposited by the individual borrowers to the loan account or savings account.
For Private companies, installment deductions shall be done at source by the respective agencies/employers.
Interest Rate
9.50 % (Floating) 11.00% (fixed)
Tenure
Maximum 5 years