General Announcements & Circular |
| Credit Division |
To commemorate the Coronation & Centenary Celebration, NPPF is pleased to inform all its members that the interest rate on Member Education Loan Scheme has been reduced from 10% to 9 % P.a with effect from 1st October, 2008.
Please note that monthly repayment amount will remain the same for the existing loans although the interest has been reduced to 9% P.a.This will result in early repayment of the loan.
The Education Loan Scheme term has been maintained at 15 years for the benefit of the members.
The Education Loan Scheme details are as follows:
| DESCRIPTION |
REMARKS |
| Purpose |
- To provide financial assistance to members and their children’s studies.
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| Eligibility |
- Contributing members of the Civil and Armed Forces Pension Fund.
- Minimum of 3 years contribution to the NPPF at the time of application.
- Minimum Provident Fund balance should be Nu.30,000/- at the time of application.
|
| Limit |
- Monthly repayment of 60% Net Pay.
- Up to maximum of Nu.1000,000/-
|
| Rate of Interest |
- 9% with effect from 1st October, 2008
|
| Term of Loan |
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For Further Information and assitance, please call our Credit Division at 02-334787 or visit our website www.nppf.org.bt
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| Credit Division |
This is to notify all the members who have taken Housing Loan from NPPF that it will now open a counter from 1st September, 2008 to facilitate deposit of the loan repayments.
However, please note the repayment shall be accepted only in the form of cheques drawn on the banks at Thimphu. Members can now opt to either continue to deposit Housing Loan repayment through the current system with the Bank of Bhutan branches or approach the NPPF directly to repay the loan.
The counter will be opened till 4 pm during working days and till 12 pm on Saturdays. Since repayment will be accepted only in cheques, individual loan account shall be created on the next working day.
This arrangement is made for the convenience of the members.
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| Real Estate |
Towards enhancing transparency in the management of the NPPF housing facilities, the management has been reviewing the housing management rules and regulations to institute a proper system.
From its past experience, we find that there are only about two to three flats being vacated in a year. As there are not many flats vacated to meet the demand of the applicants, the NPPF has decided not to accept applications from the members for residential flats and quarters. The applications already received and registered with the NPPF are treated as invalid.
However, as and when flats are vacant, the NPPF will make the information available in the media and on its website. All those interested can apply to the NPPF as per the eligibility criteria provided in the announcement.
All are requested to note the above.
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One unit class III (J/N/III/16) residential quarter in the NPPF complex at Samdrup Jonkhar will be available for rent with effect from November 2008.The interested PF members in Grade 11 to 15 who have served more then 5 years and presently working in Samdrup Jonkhar may apply to the NPPF latest by October 15 , 2008.
The application from can be downloaded from the NPPF website:- www.nppf.org.bt
The NPPF shall make the allotment through a lottery draw on October 16, 2008 in its office premises at Samdrup Jonkhar. The successful applicant shall enter into an agreement with the NPPF on the same day and the unit shall be handed over on October 31, 2008.
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