Brac Bank Auto Loan

Brac Bank Auto Loan

A Very Flexible Package With Only 11.25% Interest Rate and Fixed Rate Facility

Key Product Features

Interest Rate 11.25%
Interest Rate varies from 11.25% to 12.50% depending on the loan amount and customer segment. 12.5% for the Businessmen. t.

Floating (Variable) Interest
Min. financing Amount BDT200000
Max. financing Amount BDT4000000 4000000
Min. loan tenure 1 year
Max. loan tenure 5 year
Islamic / Conventional Conventional
Approval duration 2-5 Working Days if all documents are okay.

Fees and Charges

One time set-up Penalties
Processing fee

Sanction letter fee
Early Settlement
2% (within 3 years), 1% (after 3 years and before expiry).

Late Payment Charges
2% per month on overdue amount.
Other Charges
  • Quotation Change Charge BDT 1000/- each time,  
  • EMI Date reschedule charge BDT 2,000,
  • IGPoA (Irrevocable General Power of Attorney) BDT 850,
  • Duplication of BA letter copy BDT 100/- each time.
  • Loan rescheduling fee: 1.0% of the outstanding loan amount or BDT 15,000/- whichever is higher.
  • 15% VAT is applicable on all fees and commissions as per Govt. circular no SRO 117-LAW/2002/342-VAT dated June 06, 2002.


Age requirement
Age 25years - 65years

Min Income requirement
BDT30000 gross per month

Employment Eligibility
  • Salaried Employee
  • Self Employed
  • Land Owner
  • Available for Salaried individuals, Business Persons, Self Employed & Landlord.
  • Length of service: Confirmed employment with total 1 year work experience.
  • Age of Business: Minimum 2 years


Other requirements

Car Registration
Joint registration mandatory.
Allows joint applicant?
Car Insurance
1st Party Insurance.

Hypothecation over the car.


Brac Bank Auto Loan

Required Documents

Documents Required:

  • Latest one year's personal bank statement. 
  • Photocopy of national ID/Passport.
  • One copy passport size photograph of the applicant.
  • One copy passport size photograph of guarantor.
  • Price quotation of the vehicle.
  • Business card/ visiting card of the applicant.
  • Personal TIN certificate.

Additional documents required for salaried person:

  • Letter of Introduction stating salary, issued by the employer. 

Additional documents required for business person:

  • Copy of Trade License.
  • Company’s bank statement for last one year.
  • Memorandum of Articles for Limited Liability Company.

Additional documents required for self employed person:

  • Professional Certificate issued by authorized institution.

Additional documents required for landlord:

  • Valid documents of the property, Rent receipt/deed.

Additional Information

  • Minimum monthly Income is BDT 30,000 (for salaried); BDT 35,000 (for others).
  • Minimum Age requirement 25 Years at the time of application.
  • Maximum Age is 65 Years at the time of maturity.
  • For Reconditioned Cars, Loan Is Applicable For Upto 5 Years Old Model.
  • 50% down payment needed. The rest can be taken from the bank.