Car Loan

We offer Car Loan to purchase brand new/ reconditioned vehicle, according to your requirement.

Features

Loan amount from BDT 5 lac to 40 lac or 50% of the vehicle’s price, whichever is lower.
Flexible repayment of 12 - 60 months.
Interest Rate: Presently 9%
Processing Fee: 0.50% of the loan amount but not more than Tk.15,000/-.
No Hidden Charge
Easy documentation & quick processing.
Option for early & partial settlement.

Eligibility:

Vehicle must be non-commercial unregistered brand new or reconditioned.
Applicant must be Tax Paying Bangladeshi Individual having satisfactory net-worth who has means and capacity to repay Bank Loan.
Age: Minimum 21 years & maximum 65 years at the time of maturity of the loan.
Monthly net income must be 3 times of loan installment.

Required Documents:

Copy of National ID of Applicant/ Guarantor(s).
2 Copies of recent lab printed passport size photograph.
Copy of latest Income Tax Clearance Certificate/ Tax Return/ Tax Acknowledgement Receipt of the applicant.
Copy of utility bill
Bank statement of at least 06 months of Applicant.
Bank statement of Guarantor.
For salaried person, letter of introduction & salary certificate from competent authority.
For businessman, valid trade license & income statement.
Quotation of vehicle from bonafide Auto Dealers duly accepted by applicant.

Security:

Registration of the vehicle in the name of client & Bank.
Hypothecation over the car.
Personal Guarantee(s).
Authorization for debiting client's deposit account for collection of EMI.
Required No's of fully prepared post dated & valid signed MICR cheques with Memorandum of Deposit of cheques.
First Party comprehensive insurance of the vehicle.

CAR LOAN