This loan is for the purchase of new vehicles or vehicles already purchased which are less than six months old. Repayment is from the vehicle (commercial vehicles) and from other sources(personal vehicle). The loan itself is backed by the vehicle. We have been financing the purchase of commercial as well as personal vehicles since 1992.
Light Vehicles
Lending Policy
For purchase of Light Vehicle for Commercial use(Taxi):
- Loan Processing Fee: Nu 500/- for every application.
- Interest rate and Term: Click here
- Repayment mode : Monthly
- Penalty rate : 5 %
For purchase of Vehicle by Govt.Employees/Corporate employees/Military Personnel for personal use:
Eligibility Criteria
- Should be a Bhutanese citizen.
- Generally, client must have 25% to 40% of cost of vehicle as equity contribution
- Departmental Undertaking must be submitted if repayment is to be made from salary.
- Cash flow/Profit & Loss statement & copy of Trade License must be submitted if repayment is to be made from Business Income.
- Comprehensive Insurance is a MUST
Heavy Vehicles
Lending Policy
For purchase of Heavy Vehicle:
- Loan Processing Fee: Nu 500/- for every application.
- Interest rate and Term: Click here
- Repayment mode : Monthly
- Penalty rate : 5 %
Eligibility Criteria
- Should be a Bhutanese citizen.
- Generally, client must have 25% to 40% of cost of vehicle as equity contribution
- Cash flow/Profit & Loss statement & copy of Trade License must be submitted if repayment is to be made from Business Income.
- Comprehensive Insurance is a MUST