Standard Chartered Bank Saadiq Auto Finance

Standard Chartered Bank Saadiq Auto Finance

An attractive package with no personal guarantor requirement.

Key Product Features

Interest Rate 11.50%
Standard Chartered Bank Saadiq Auto Finance's interest rate may vary from 11.5% to 12.5% depending on customer category.

Floating (Variable) Interest
N/A
Min. financing Amount BDT500000
Max. financing Amount BDT4000000 50%
Min. loan tenure 1 year
Max. loan tenure 7 year
Islamic / Conventional Islamic
Approval duration Standard Chartered Bank may take approximately 20 working days to approve and review your loan request.

Fees and Charges

One time set-up Penalties
Processing fee
1% on approved loan amount.

Sanction letter fee
N/A
Early Settlement
1% on overdue amount.

Late Payment Charges
3% on overdue amount.
Other Charges

CIB Charge: BDT 100.

Eligibility

Age requirement
Age 25years - 60years

Min Income requirement
BDT48000 gross per month

Employment Eligibility
  • Salaried Employee
  • Self Employed
  • Land Owner
  • Bangladeshi by citizenship or by birth.
  • Permanent employees of Govt., Semi Govt. and Autonomous Bodies, Banks and financial institutions,  Senior teachers of University, Govt. School, College, and Madrasha, Executives/Officers of Multinational Companies and renowned NGOs.
  • Worthy businessman having trade license, VAT certificate and TIN.
  • Self-employed professionals like Doctors, Engineers, Architects, and Accountants having sufficient cash flow.
  • Trade license of minimum 3 years for businessmen.
  • Employees working on renewable contract basis with 12 months or more.

Other requirements


Car Registration
Car will be registerd at the name of bank till end of the loan period or loan formalities.
Allows joint applicant?
Yes
Car Insurance
1st class comprehensive insurance of the car.
Security
  • Hypothecation over the car.
  • A post-dated cheque.
Guarantor
2

Standard Chartered Bank Saadiq Auto Finance

Required Documents


  • Accepted copy of the quotation of the items to be purchased.
  • 2 attested photographs.
  • Photocopy of NID/ Passport.
  • Last one years' bank statements.
  • TIN certificates.
  • Last tax return.
  • Letter from employer with details of employment and salary.
  • Rent receipt/ Rental Agreement.
  • Proof of Address ( copy of t&t/ postpaid mobile bill/any utility bill/municipal tax receipt).
  • Whether enjoying any other investment facility with any other banks, the amount, mode and name of the bank including security and present performance to be stated clearly in client's declaration.
  • For service holder: Letter from employer with details of employment position and salary, salary certificate, pay slip, visiting card, copy of employer ID..
  • For Businessmen: Trade License of minimum 3 years/ memorandum of articles & visiting card.
  • For Teachers: salary certificate/ pay slip, visiting card, copy of employer id, any other income documents.
  • For Landlord/Landlady: 3 months' rent amount as reflected in the rental agreement or rent receipt. proof of ownership of property.

Note: Additional document may require considering the profile of the applicant.



Additional Information


  • No prior account relationship required with Standard Chartered.  Additional Info: Maximum allowable age of the vehicle at the end of the loan tenor is 10 years in case of Toyota, and 8 years in case of other brands. Partial payment fee: 2% of the prepayment amount. 
  • Minimum Income: For Businessmen Yearly turnover must be BDT 12000000.