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Overdraft
We have been financing loans for business since
1992. In 1997 after we became a Bank also started
providing overdraft facilities. The current size
of the Portfolio is Nu. 775,044,547.52 as of 01/10/2007.
Lending Policy:
- Application Fee: Nu.100 for every application
- Valuation Fee: As per Engineer's inspection
report (Maximun Nu.5,000/-)
- Interest rate: 14%
- Repayment: Lump sum for overdrafts.
- Maximum Term: Overdraft renewable annually
- Penalty Rate: 5%
Eligibility Criteria:
Security
- Should be a Bhutanese citizen
- Immovable properties; House/ Building must
be commercially viable
- Movable properties; Equipment/ Vehicles (not
older than five years)
- Gold jewelleries and Fixed Deposit Certificates
- Ownership Certificates (3 months validity)
- Trade License
- Should have a sound source of repayment
- Loan will be sanctioned at 50-60% of the collateral
Value
Credit Process:
Step 1: Fill and submit Application Form
is available at any BNB office. The form should
be supported with all documents prescribed under
Eligibility Criteria besides other documents such
as copy of Identity card and two passport size photo.
Step 2: The Credit Officer will review your
documents and proposal. The Engineering Division
will determine your collateral value. Any issues
relating the policy, you will be directed to Managing
Director/Dy. Managing Director.
Step 3: On acceptance of your proposal, Loan
clearance from other Financial Institution Viz.
BOB, BDFC, NPPF and RICB will be sought. The maximum
period for obtaining loan clearance is one week
after which we commence our loan appraisal to the
loan committee. The actual appraisal and approval
time in BNB takes half a day at the maximum. The
loan committee is consists of Appraisal officer
legal officer, Dy. Credit Head, Credit Manager and
Dy. Managing Director and the Managing Director.
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