Housing Loan *
Features:
Purpose:
Ø For Purchase of New House , Construction, Investment & Take over from other Bank.
Limit:
Ø Maximum up to NZD 2 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%