Personal Finance

EASY LOAN
BDFI easy loan - Installment & credit line will allow an individual to borrow money by using the equity in his home to secure a loan or line of credit. The client can borrow up to 70% of his home's equity and mortgage, based on the current market value and loans already secured by his home. A home equity line of credit provides the flexibility and convenience of borrowing only as much as the client needs up to his credit line. As he pays down the balance on his credit line each month, he replenishes his available credit to use again as required. The limit can be used for for home improvements, buying a car, important purchases, college tuition, medical, foreign employment and social or other expenses.

Highlights

Credit Lines

• Credit Lines from 300,000 – 7,500,000
• Flexible repayment terms that meets the client's ability to repay.
• Documentation Fee – 1.5% of the approved limit.
• Loan Tenor – 12 months, yearly renewable at the sole option of BDFI.
• Low Annual Fee – waived for the first year. 1% after 2 nd year onwards to be charged in the first month of the calendar.
• As the client repays the balance, that money can be available to him again.
• Issue cheque at any time for any amount up to the client's approved credit limit.

Hire Purchase / Leasing
BDFI Auto Loan program provides vehicles and other equipments under Hire Purchase & Leasing facilities. Individuals being salaried or self employed or a business entity may be entertained for private as well as commercial vehicle under our Hire Purchase & Leasing Loan facilities at a very competitive terms & conditions.

Highlights

• Loan amounts 300,000 – 5,000,000
• Moratorium Period of maximum 3 months in case of commercial vehicles, depending upon the need.
• Financing for new / used recondition vehicles not more than 7 yrs. Old at the time of final maturity of the loan.
• 100% financing for new and used vehicles in case of additional collateral provided by the client.
• Loan Tenor of maximum 84 months.
• Processing Fee of 1%.
• Maximum Finance unto 80% of the cost.
• Pre-payment facility allowed after 12 months. 1% prepayment charge within first 12 months.
• No applicant fee.
• 70% finance for second hand/ reconditioned vehicle based upon the current book value of the vehicle and is applicable only for existing client who have proven good record with us.
• Turn Around Time – 48 hours from the receipt of application along with complete information.
• Buy Back Leasing – If a business entity has already made fixed asset investment for his machinery, equipments, vehicles etc. and now is stuck in the middle of the road due to lack of working capital for the operation of his business, then buy back leasing can be a good option. We will value his assets and buy back the asset from him and again provide the same asset on leasing facility to the client. This way the client will have the privilege of using the assets as well as finance to run his business.

Other Loans

Loan Against Fixed Deposit Receipt (LAFDR)
If you are a Fixed Deposit Account Holder in BDFI , then you can avail upto 90% of the Fixed Deposit Amount as Loan from our Bank by pledging your Fixed Deposit Receipt. You have to pay +2% extra interest on the amount withdrawn as loan on monthly basis.

Loan Against Marketable Securities (LAMS)
BDFI also provides loan facilities against pledging of Marketable Securities and HMG Bonds at a competitive interest rate.

Loan Against Financial Guarantee (LAFG)
We provide loan facility against 1 st Class Bank Guarantee, Financial Guarantee and Other Banks Guarantee , interest being flexible depending upon the type of Guarantee provided.

Guarantee
A guarantee is a definite and irrevocable undertaking by a bank ( guarantor ) on behalf of its customer (debtor) to make payment up to a specified sum of money to the beneficiary ( creditor ) on demand in case of default by its customer.

Guarantee implies that bank is undertaking to compensate any financial loss that may arise to creditor due to non fulfillment of the basis contract by the debtor.

Types of Bank Guarantee :-

• Bid Bond: It is guarantee issued by bank for its customer for margin amount that must be deposited.
• Performance Bond
• Advance payment guarantee (APG)
• Maintenance guarantee
• Custom guarantee
• Standby letter of credit*.(*applicable after NRB approval)

Procedure:
Processing, Approval, Sanction & Disbursement

Approval will take into account the applicant's character, credit standing, performance on any previous facilities availed, feasibility of the proposed project, repayment capacity and security.

The Bank will check with other financial institutions for existing liabilities of the borrower (including directors if the borrower is a company)

Bank staff will inspect all relevant property and sites
The Borrower and Guarantors must complete all documentation and mortgage formalities prior to disbursement of any funds under the sanctioned facility
Disbursement will be as per the request of the borrower, as far as possible.
As a rule, construction loans will be disbursed in phases, after inspection and assessment of the utilization of the previously disbursed funds.