Monthly Repayment: BDT 17,332.66
Total Interest Payable: BDT 123,975.91
Total Amount Payable: BDT 623,975.91 (When principal money is 500,000 Tk.)
Product Features:
- Financial Amount (min to max): BDT 300,000 – 4,000,000
- Loan Tenure (min to max): 1 – 5 years
- Interest rate: 15%
Eligibility:
- Min. Salary requirement: BDT 25,000
- Age requirements (min-max): 21 – 60 years
Employment Eligibility
- Salaried Employee
- Self Employed
- Land Owner
Some other important info:
Max. financing Amount : BDT4000000 50% will be financed by bank.
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 Charges
N/A
Other requirements
Car Registration
Joint Registration of the vehicle under the names of both the borrower(s) and bank.
Allows joint applicant?
Yes
Car Insurance
Comprehensive 1st party insurance coverage of asset favoring the bank.
Security
Hypothecated over the car and postdated check.
Guarantor
You just need only two guarantors to be approved to get this loan.