Transport Loan

Purpose

For the purchase of new vehicles. Vehicles already purchased which are less than one year old are also be eligible for transport loans.  

Commercial transport includes the purchase of taxis, electric cars, public transport buses, trucks, tourist buses, and any vehicle purchased for commercial purchase.  

Eligiblity

  • Should be a Bhutanese citizen

  • 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.

Quantum

VehicleTypeMaximum LTV as set by RMARevised Conditions
Personal Vehicle or TaxiLight Vehicle30%Fixed Assets to the extent of loan amount OR
Guarantor with fixed assets and good credit record OR
Loan amount to be 20% of Vehicle Cost
Electric VehicleLight Vehicle70%Fixed Assets to the extent of loan amount OR
Guarantor with fixed assets and good credit record OR
Loan amount to be 50% of Vehicle Cost
TrucksHeavy Vehicle50%Fixed Assets to the extent of loan amount OR
Guarantor with fixed assets and good credit record OR
Loan amount to be 40% of Vehicle Cost
Passenger BusesHeavy Vehicle70%Fixed Assets to the extent of loan amount OR
Guarantor with fixed assets and good credit record OR
Loan amount to be 50% of Vehicle Cost
Tourist BusesHeavy Vehicle70%

Tenor

5 Years Maximum

Interest Rate

10.5%

Floating Rate

12%

Fixed Rate

Existing Clients

The loan must be cross-collateralized with the existing fixed assets irrespective of the exposure of their existing facilities. However, a proper due diligence must be done on the client’s past performance.

Required Documents

  • Loan application form duly filled by the applicant

  • Copy of CID of the applicant

  • 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)

TypeFile NameDate ModifiedSize

pdf
ADDITIONAL LOAN 5:29 am 05/15/2019123.3k

pdf
Addendum 10:33 am 09/03/201857.7k

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TRANSPORT LOAN 5:45 am 05/15/2019191.2k