Prime Bank Car Loan
Key Product Features
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|
1.25 % and Exclusive anniversary rate 0% processing fees
Sanction letter fee
Late Payment Charges
2% Per Year On Overdue Amount.
Age 22years - 65years
Min Income requirement
BDT30000 gross per month
- 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,
- employees of Government/Semi Govt./ Autonomous bodies/ Banks/ Financial Institutions and medium/ small enterprises.
- Landlord/ Landlady.
- 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.
Allows joint applicant?
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
- 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
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
- 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.
- 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.