Midland Bank Car Loan
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- Tuesday09:00 AM - 05:00 PM
- Wednesday09:00 AM - 05:00 PM
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- Friday09:00 AM - 05:00 PM
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Note: Interest rate varies from 12 to 14% depending on the customer segment.
Monthly Repayment: BDT 16,607.15
Total Interest Payable: BDT 97,857.58
Total Amount Payable: BDT 597,857.58 (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: 12%
Eligibility:
- Min. Salary requirement: BDT 30,000
- Age requirements (min-max): 21 – 62 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:
1% on approved loan amount.
Early Settlement:
2% on approved loan amount.
Late Payment Charges
2% on overdue amount.
Other Charges
- Price of Loan Application Form(s): BDT 200.00.
Other requirements
Car Registration
Joint Registration.
Allows joint applicant?
Yes
Car Insurance
1st Class insurance.
Security
Hypothecation over the car.
Guarantor
You just need only two guarantors to be approved to get this loan.
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