Bank Asia Auto Loan
Key Product Features
Interest rate 12% to 14% depending on the customer sigment & loan amount.
Floating (Variable) Interest
|Min. financing Amount||N/A|
|Max. financing Amount||BDT3000000 50%|
|Min. loan tenure||1 year|
|Max. loan tenure||5 year|
|Islamic / Conventional||Conventional|
|Approval duration||15 Working Days|
Fees and Charges
|One time set-up||Penalties|
Sanction letter fee
No Early Settlement & Partial Adjustment fees
Late Payment Charges
Age 25years - 65years
Min Income requirement
BDT15000 gross per month
- Salaried Employee
- Self Employed
- Land Owner
Any Bangladeshi individual who has the means and capacity to repay bank loan; In specific terms, these could be
- salaried executives of multinational and middle to large size local corporate
- Government officials
- Officials working in reputed NGOs (Non Government Organizations)
- International aid agencies & UN bodies
- Any tax paying businessmen of repute
- Any employed / self-employed tax-paying individual having a reliable source of income.
- For salaried individual, minimum service length of 3 years and must be a confirmed employee.
- For self employed individual, a business record of minimum 3 years.
Allows joint applicant?
1st Party Insurance Required
The vehicle is hypothecated to the bank only. In addition to this registration requirement, on a case-to-case basis, bank may also secure the loan partially by the commonly acceptable form of cash/quasi cash securities available in the market.Guarantor
Bank Asia Auto Loan
- National ID Card / Passport / Driving license.
- Recent color photograph,
- business card and office ID card.
- Copy of TIN related document
- Letter of introduction (In case of salaried executives) as per given format or Pay Slip
- Professional Certificate for Professionals
- Trade license/MOA for businessmen Bank Statement of last 12 months
- Valid Quotation of the car to be purchased.
Minimum Monthly Income:
- Monthly surplus income (after meeting all expenses) shall be at least BDT 15,000
- 5 years for reconditioned car
- 6 years for Brand new car
VAT: 15% VAT applicable over all kind of charges and fees