June 30: Bank of Bhutan has temporarily suspended the Ladies Plus loan. The loan has been suspended for a while due to large number of customers.

Launched in May 2008, the Ladies plus Loan has attracted more than 600 customers until the mid of June. Officials from the Bank of Bhutan say that there are still about 150 customers in the waiting list applying for the loan.

Following the rush coupled with the June closing period, the bank has temporarily suspended the loan offer.

The Ladies Plus Loan is one of the three new schemes introduced by the Bank of Bhutan to commemorate the centenary celebrations. The loan is offered to women in the workforce and housewives for a period of three years.

The annual interest rates for the first year is 8.5% followed by 9.5% in the second year and 10% in the third year.

Statistics from the Bank shows that almost 51% of those who availed the Ladies plus Loan were housewives followed by civil servants.

Meanwhile, the bank is in the process of starting similar schemes in other parts of the country.

At present women in Thimphu and Phuentsholing can avail the facility which is expected to resume in about a month’s time.