It has 11% interest rate for all.
Monthly Repayment: BDT 16,369.36
Total Interest Payable: BDT 89,296.91
Total Amount Payable: BDT 589,296.91 (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: 11%
Eligibility:
- Min. Salary requirement: BDT 50,000
- Age requirements (min-max): 22 – 60 years
Employment Eligibility
- Salaried Employee
- Self Employed
- Land Owner
Some other important info:
Max. financing Amount : BDT4000000 Upto 50% of car quotation value
Min. loan tenure :1 year
Max. loan tenure: 5 year
Islamic / Conventional: Conventional
Processing fee:
1% +VAT@15% of Sanction loan amount
Early Settlement:
1%+VAT @15% of outstanding loan amount,
Late Payment Charges
At actual + Additional 2% only overdue loan amount.
Other Charges
- Application fee : BDT 500+VAT@15%.
- 15% vat applicable over all kind of charges and fees.
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.