City Bank Manarah Auto Finance

Manarah Auto Finance is designed to purchase brand new and reconditioned but unregistered automobiles for personal use only.

Some other important info:

Max. financing Amount :  BDT4000000 50%
Min. loan tenure :1 year
Max. loan tenure: 5 year
Islamic / Conventional:  Islamic

Processing fee:
1% on approved loan amount.

Early Settlement: 
N/A

Late Payment Charges
2% on overdue amount.

Other requirements

Car Registration
Joint registration of the vehicle in the name of the bank & the client.
Allows joint applicant?
Yes
Car Insurance
1st class comprehensive insurance of the car.
Security

• Post dated cheques against each monthly installment.
• Any other security deemed necessary to protect the interest of the bank.
• Hypothecation over the vehicle.

Guarantor
You just need only one guarantor to be approved to get this loan.

General Important Documents:

1. Recent passport size color photographs of applicant (s) and guarantor (s).

2. Personal net worth statements of applicant (s) and guarantor (s)

3.  NID/passport/ driving license of applicant (s) and guarantor (photocopy)

4. Recent utility bill (gas/water/electricity/municipal tax)

5. Business card/ office ID of applicant (s) and guarantor (s)

6. Recent  tax certificate or  E-TIN.

7. Last 12 month Bank statement for businessman and 6 month for others

8. Rent or lease agreement of house/ property (if needed).

Required documents for Salaried Person /Self Employed :

• Salary Certificate/ Letter of Introduction.
• Offer letter/Release letter from previous employer to prove service experience.
• Professional certificate issued by concerned institution.

Required documents for Businessman :

• Copy of trade license.
• Memorandum of Association and Articles of Association of the company.
• Certificate of Incorporation, Latest form xii, Partnership deed.

Required documents for Landlord/Landlady :

• Title deed of premises / property, Valid rental deed with tenants.
• Utility bill copy.
• Ground rent payment.
• Municipal tax payment receipt.

Other Benefits:

• Shortest loan processing time
• Joint applicant allowed
• Early, full and partial settlement allowed.