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Auto Loan
This product will allow car financing to the customer segment. Under this scheme, the vehicle is hypothecated to the bank only. In addition to this registration requirement, on a case-to-case basis, bank may also secure the loan partially by the commonly acceptable form of cash/quasi cash securities available in the market.
1. Customer Segment
Any Bangladeshi individual who has the means and capacity to repay bank loan; In specific terms, these could be salaried executives of multinational and middle to large size local corporate, Government officials, Officials working in reputed NGOs (Non Government Organizations), international aid agencies & UN bodies, any tax paying businessmen of repute, any employed / self-employed tax-paying individual having a reliable source of income.
2. Loan Feature
Loan amount Maximum Tk.30,00,000.00 for both Recondition & Brand New Car
Repayment tenure Maximum 5 years for reconditioned car & 6 years for Brand new car.
Payment method- Equal Monthly Installments.
Competitive interest rate
No hidden cost.
3. Eligibility
Age limit: Minimum 25 years, Maximum 65 years at loan maturity
Monthly surplus income (after meeting all expenses) shall be at least Tk. 15,000/-.
For salaried individual, minimum service length of 3 years and must be a confirmed employee. For self employed individual, a business record of minimum 3 years
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