|Loan Amount||Tk. 15.00 Lac|
This product will allow vehicle financing to the customer segment in terms of bank’s policy. Under this scheme, the vehicle is hypothecated to the bank only. In addition to this registration requirement, on a case to case basis, banks may also wish to secure the loan partially by the commonly acceptable form of cash/quasi cash securities available in the market.
Loan To Price ratio: Loan amount can not exceed 65% of the vehicle price in case of minimum downpayment @ 35% in cash. In case of FDR minimum security @ 35% of the vehicle price and loan amount will be 100%.
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 Organisations), international aid agencies & UN bodies, any tax paying businessmen of repute, any employed / self-employed tax-paying individual having a reliable source of income.
Monthly net income must be 3 times of loan installment.
As required by the Bank.