It is a great news that Lanka Bangla Auto Loan facility up to 90% of vehicle price.
Monthly Repayment: BDT 16,310.23
Total Interest Payable: BDT 87,168.16
Total Amount Payable: BDT 587,168.16 (When principal money is 500,000 Tk.)
Product Features:
- Financial Amount (min to max): BDT 200,000 – 150,000,000
- Loan Tenure (min to max): 1 – 5 years
- Interest rate: 10.75%
Eligibility:
- Min. Salary requirement: BDT 30,000
- Age requirements (min-max): 23 – 65 years
Employment Eligibility
- Salaried Employee
- Self Employed
- Land Owner
Some other important info:
Max. financing Amount : BDT150000000 90% of Car value
Min. loan tenure :1 year
Max. loan tenure: 6 year
Islamic / Conventional: Conventional
Processing fee:
0.25% of loan amount plus 15% VAT.
Early Settlement:
2.0% on the outstanding principle amount plus 15% VAT.
Late Payment Charges
4% Above the nominal rate.
Other Charges
- Other charges for registration, Insurance, Tax & VAT, Stamp charges etc:At actual for all products.
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
1st party comprehensive insurance.
Security
Hypothecation over the car
Guarantor
You just need only one guarantor to be approved to get this loan.