| Product Description |
| 1 |
Purpose of the Loan |
Personal /Consumer (not for commercial) |
| 2 |
Nature of Loan |
Term |
| 3 |
Tenure of the Loan |
Maximum 6 years.(New car)
Maximum 4 years.(Reconditioned car) |
| 4 |
Eligibility |
Minimum Service length 3years, Monthly surplus income to be equal or more than Tk.15,000.00
33% of monthly net income should be equal or higher than the installment.
Age 25-65 years, Bangladeshi.
|
| 5 |
Maximum limit |
New car Tk.20,00,000.00
Reconditioned car Tk.10,00,000.00
|
| 6 |
Documents/Securities |
Employer/Authority’s, personal,Spouse guarantee, Hypothecation, Post dated cheque Others. |
| 7 |
Debt Equity Ratio |
Up to 80:20 for Brand new car & 70:30 for reconditioned car |
| 8 |
Down payment |
Minimum 10% |
| 9 |
Rate of Interest |
Most Competitive Interest Rate Available in the market |
| 10 |
Mode of repayment |
Monthly equal installment |
| 11 |
Implication of Interest |
Quarterly compound on the rest amount |
| 12 |
Processing fee |
@0.5% on sanctioned amount, or minimum Tk.5,000.00 at the time of disbursement. |
| 13 |
Others |
Must be insured during the tenure of loan. |
