Note: interest Rate varies from 11.25% to 12.50% depending on the loan amount and customer segment. 12.5% for the Businessmen.
Employment Eligibility
Some other important info:
Max. financing Amount : BDT4000000 or 50% of car value whichever is lower.
Min. loan tenure :1 year
Max. loan tenure: 5 year
Islamic / Conventional: Conventional
Processing fee:
0.5% on approved loan amount.
Early Settlement:
2% (within 3 years), 1% (after 3 years and before expiry).
Late Payment Charges
2% per month on overdue amount.
Other Charges
Car Registration
Joint registration mandatory.
Allows joint applicant?
Yes
Car Insurance
1st Party Insurance.
Security
Hypothecation over the car.
Guarantor
You just need only one guarantor to be approved to get this loan.