Monthly Repayment: BDT 17,088.81
Total Interest Payable: BDT 115,197.34
Total Amount Payable: BDT 615,197.34 (When principal money is 500,000 Tk.)
Product Features:
- Financial Amount (min to max): BDT 500,000 – 50,000,000
- Loan Tenure (min to max): 1 – 5 years
- Interest rate: 14%
Eligibility:
- Min. Salary requirement: BDT 0
- Age requirements (min-max): 22 – 60 years
Employment Eligibility
- Salaried Employee
- Self Employed
- Land Owner
Some other important info:
Max. financing Amount : BDT50000000 70% of the car quotation value
Min. loan tenure :1 year
Max. loan tenure: 5 year
Islamic / Conventional: Conventional
Processing fee:
1% on loan amount minimum BDT 7000 + VAT.
Early Settlement:
2% on approved loan amount.
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.