Note: interest Rate varies from 11.25% to 12.50% depending on the loan amount and customer segment. 12.5% for the Businessmen.
Monthly Repayment: BDT 16,547.52
Total Interest Payable: BDT 95,710.57
Total Amount Payable: BDT 595,710.57 (When principal money is 500,000 Tk.)
Product Features:
- Financial Amount (min to max): BDT 200,000 – 4,000,000
- Loan Tenure (min to max): 1 – 5 years
- Interest rate: 11.75%
Eligibility:
- Min. Salary requirement: BDT 30,000
- Age requirements (min-max): 25 – 65 years
Employment Eligibility
- Salaried Employee
- Self Employed
- Land Owner
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
- Quotation Change Charge BDT 1000/- each time.
- EMI Date reschedule charge BDT 2,000.
- IGPoA (Irrevocable General Power of Attorney) BDT 850.
- Duplication of BA letter copy BDT 100/- each time.
Other requirements
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.