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Be it big or small, new or second hand, get your commercial vehicle like truck, taxi, bus, LCV etc., financed from BoB. Easy process, quick disbursement and minimum paper work, make it smooth and easy.
ELIGIBILITY
Transport Loan is extended to the intending customers for purchase of vehicles such as excavator, trucks, buses/light vehicle/taxis etc. for personal as well as for commercial purposes.
INTEREST RATE
CLICK HERE to view the Floating/Prevailing interest rate.
QUANTUM
Classification
LTV
Commercial – Service Oriented (Truck and machineries such as Excavator, Bull dozer and pay loader)
50%
Non-commercial – Light vehicle
30%
Electric/hybrid vehicle/Passenger Buses
70%
TENURE
New Vehicle purchase
Tenure
Commercial Vehicle
5 years
Non-Commercial
5 years
Public Service – Passenger Buses
7 years
Tourism Transport
5 years
Two Wheeler – Bicycles, trek bikes
2 years
Two Wheeler Motor bikes
5 years
Electric/hybrid
7 years
SECOND HAND TENURE
Remaining tenure not exceeding 5 years. However, second hand for two Wheeler – Bicycles, trek bikes will not be accepted.
REQUIRED DOCUMENTS
Loan application form duly filled by the applicant
Copy of CID of both the applicant and the guarantor
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/machineries/tractors/dozers and excavators)
Copy of Registration Certificate for second hand vehicles only
Sale Deed agreement (in case of financing second hand vehicles)
Guarantor details, if any
Ownership certificates of collateral security offered to bank
Letter of Consent, stamped and witness for extension of charges duly signed by the property owner (applicable only for fixed assets)
Proof of income to service the loan – verified rental income by way of rental receipts, BIT, etc.
Valuation certificates from established workshops in Bhutan (in case of financing second hand vehicles)
Copy of valid Insurance Policy (in case of second hand vehicles)
The age of the vehicle should not be more than 2 years (in case of second hand vehicle)