Prime Bank Car Loan

Prime Bank Car Loan

Key Product Features

Interest Rate 12.50%
11% to 14%

Floating (Variable) Interest
Min. financing Amount BDT200000
Max. financing Amount BDT4000000 Maximum 50% of the vehicle price but loan ceiling up to BDT 4000000
Min. loan tenure 1 year
Max. loan tenure 5 year
Islamic / Conventional Conventional
Approval duration 2 or 3 Working Days (If All Documents are ready)

Fees and Charges

One time set-up Penalties
Processing fee
1.25 % and Exclusive anniversary rate 0% processing fees

Sanction letter fee
At actual
Early Settlement

Late Payment Charges
2% Per Year On Overdue Amount.
Other Charges
  • CIB Charge: BDT 200 for each individual + BDT 20 for each firm / company under ownership of the same individual.
  • Loan Application Form: BDT 400
  • VAT: 15% VAT is applicable on fees and commissions as per Govt. circular no SRO 117-LAW/2002/342-VAT dated June 06, 2002. )


Age requirement
Age 22years - 65years

Min Income requirement
BDT30000 gross per month

Employment Eligibility
  • Salaried Employee
  • Variable/Commission-based Employees
  • Self Employed
  • Land Owner
  • Employees of Multinational Companies (MNCs) and Large Local Corporate (LLC), foreign NGOs, aid agencies, UN bodies.
  • Contractual employees working as consultant/advisor/ researcher of UN organization/ADB/ World Bank/ International NGO’s/ other international organizations,
  • Professionals,
  • employees of Government/Semi Govt./ Autonomous bodies/ Banks/ Financial Institutions and medium/ small enterprises.
  • Landlord/ Landlady.
  • Businessmen


  • For permanent and confirmed salaried person, minimum one (1) year experience with 6 months employment in present organization.
  • For Businessmen, minimum one (1) year experience in the same line of business.
  • For Landlord/Landlady having 6 months rental income continuation.

Other requirements

Car Registration
Allows joint applicant?
Car Insurance
1st Class Insurance Required
  • One personal guarantee.
  • Joint registration of the vehicle.
  • First party comprehensive insurance of the car.
1 Personal Guarantee Required

Prime Bank Car Loan

Required Documents

Required Documents:

  • Recent passport size color photographs of applicant (s) and guarantor (s)
  • Photocopy of NID/passport/ driving license of applicant (s) and guarantor (s)
  • Price quotation of car
  • Latest utility bill (gas/water/electricity/municipal tax)
  • Business card/ office ID of applicant (s) and guarantor (s) if any
  • Latest tax certificate/ E-TIN
  • Personal net worth statements of applicant (s) and guarantor (s)
  • Bank statement of last 12 months for businessmen and 6 months for others,
  • Rent or lease agreement of house/ property (if applicable)

Additional documents required for Salaried Person /Self Employed :

  • Salary Certificate/ Letter of Introduction
  • Offer letter/Release letter from previous employer to prove service experience
  • Professional certificate issued by concerned institution.

Additional documents required for Businessmen :

  • Copy of trade license
  • Memorandum of Association and Articles of Association of the company
  • Certificate of Incorporation, Latest form xii, Partnership deed.

Additional documents required for Landlord/Landlady :

  • Title deed of premises / property, Valid rental deed with tenants
  • Utility bill copy
  • Ground rent payment
  • Municipal tax payment receipt

Additional Information

Minimum Monthly Income:

  • BDT 30,000 (Taka Thirty Thousand) for salaried person of MNCs, LLC, Foreign NGOs, aid agencies and UN bodies.
  • BDT 35,000.00 (Taka Thirty Five Thousand) for salaried person other than MNCs, LLC, Foreign NGOs and UN bodies.
  • BDT 30,000 for Govt. employees.
  • BDT 40,000 for Landlord / Landlady.
  • BDT 45,000 for Businessmen

Maximum Tenure:

  • 6 years for brand new cars
  • 5 years for reconditioned cars

Early Settlement Fee:

  • 2% of the Settlement amount to be realized if applicants (s) adjust the loan before adjustment of 25% of disbursed loan (Principal) amount
  • 1.50 % of the Settlement amount to be realized after adjustment of 25 % of disbursed (Principal) loan amount.
  • 1% of the Settlement amount to be realized after adjustment of 50 % of disbursed (Principal) loan amount.
  • 0.50% of the settlement amount to be realized after adjustment of 75% of disbursed (principal) loan amount.

Loan re-scheduling fee:

  • At actual

Join Applicant Allowed:

  • Spouse, father, mother, daughter, sister, son brother and in-laws.

Other Benefits:

  • Flexible repayment schedule
  • Automatic realization of monthly installments
  • Shortest loan processing time
  • Life insurance facility covering your payment obligations in the event of your death
  • Early, full and partial settlement allowed
  • Processing fee 1.25 % of the loan amount
  • Competitive interest rate
  • Joint applicant allowed
  • Minimal documentation.