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Loans & Advances

Housing Loan *

Features:

Purpose:

Ø For Purchase of New House , Construction, Investment & Take over from other Bank.

Limit:

Ø Maximum up to NZD 1 million

Ø Subjected to 60 times of gross monthly salary for salaried/self employed or 80% value of the house, which ever is lower.

Rate of Interest:

Ø 5.25% Floating (2% below Bank Base Lending Rate**) (Interest Rate changed w.e.f. 01.01.2016)

Period :

Ø Up to 25 Years

* T & C apply


Personal Loan for Salaried Employees *

Features:

Purpose:

Ø For Employees of  Government, Quasi Govt, Public Sector Undertaking, Corporate etc or any reputed organization in New Zealand.

Condition:

Ø Annual income  NZD30,000  and above.

Ø Person must maintain satisfactory  salary account with BOB (NZ) Ltd.

Limit:

Ø 5 times of gross monthly salary or NZD 50,000, whichever is lower.

Repayment Period:

Maximum 36 months

Rate of Interest:

Ø 4% to 7% above Bank Base Lending Rate**

* T & C apply


Business Loan *

Features:

Purpose:

Ø Working capital facility for day to day  operations. Term loan for capital expenditure such as Plant and Machinery and other fixed assets.

Facility :

Overdraft /Term Loan / Letter of Credit/Bank Guarantee

Limit:

Ø Up to 2.5 million

Rate of Interest:

Ø 0 to 4% over Bank Base Lending Rate **

Margin:

Ø 15% to 35% depending upon value of other collateral security

Period:

Overdraft facility  12 months , renewable thereafter

Term Loan not excedding 84 months subject to annual review.

* T & C apply


Scheme for financing retail traders:

Features:

Purpose:

Business needs both  short term and long term

Facility:

Ø Term Loan & working capital requirements

Limit:

Ø Up to 1 million

Rate of Interest:

Ø 0 to 4% over Bank Base Lending Rate**

Margin:

Ø 5% to 30%

Period:

Repayble on demand, subject to annual review for working capital limits;  For term loan not exceeding 60 months subject to annual review

* T & C apply


Loan/Over Draft against property *

Features:

Limit:

Ø Maximum  up to 1 million

Ø Subjected to 36 times  of gross monthly salary for salaried class & up to 3.5 times average annual income for self-employed.

Rate of Interest:

Ø Variable rate of interest

Period:

Ø Over Draft 12 months, Term Loan 84 months

* T & C apply

 

** Bank Base Lending Rate 7.25%